UK Gambling Sector Could Benefit From The New Appointment Of The Culture Secretary
Theresa May, UK Prime Minister appointed a new Culture Secretary, Matt Hancock. It was announced this week regarding the new appointment with this being a potential huge benefit for the gambling sector in the region.
Hancock will oversee the levy in the UK. His main role will be to lead the Department for Digital, Culture, Media and Sport sector. He will also be responsible for all gambling and horseracing.
Hancock’s previous experience may be what the market needs especially with his full understanding of the industry. Chairman of the Association of British Bookmakers, Paul Darling agrees saying
“Hancock has a full understanding of the industry and its dynamics and we look forward to working with him.”
Back in 2012 Hancock introduced the Offshore Gambling Bill. This bill was a plan to amend the 2005 Gambling Act that’s main objective was to
“provide that all relevant operators contribute to the Horserace Betting Levy.”
The current levy system, according to Former President of the Racehorse Owners Association, had a major impact from Hancock’s role. Other major roles on the agenda for Hancock including the government’s review of the gambling sector as a whole.