BGC’s CSR report emphasizes financial impact of the gambling industry

BGC’s CSR report emphasizes financial impact of the gambling industry

The BGC’s CSR report emphasizes the financial impact of the gambling industry.

The Betting and Gaming Council recently released its 2021 CSR report, highlighting the gambling industry’s financial contribution to the UK, totaling £7.7 billion in gross value added. The research, which emphasized the value of regulated betting and gaming to communities, the economy, and sport, also found that the gambling industry contributed £2.2 billion in treasury taxes and £4.5 billion through its supplier chain.

BGC underlines the contribution of the gambling industry to UK

Moreover, the sector supported 119,000 jobs – 61,000 direct, 22,000 in Scotland and Northern England, and 15,000 in London – with 19% of those employed under the age of 25 and 51% under the age of 35. Along with the aforementioned, the report singled out a number of companies, including bet365 Group, Flutter Entertainment, William Hill, Gamesys, and Entain, while also praising BGC members in general for their collective support for the Young People’s Gambling Harm Prevention Programme, which is delivered in collaboration with YGAM and GamCare.

In addition, the Gamesys Foundation committed £100,000 to mental health, the William Hill Foundation partnered with the Scottish Football Association to promote mental wellbeing, and Playtech became the first holder of GamCare’s safer gambling standard. Additional social measures have centered on safer gambling – specifically, funding for research, education, and treatment – with industry payments to GambleAware totaling £10.6 million. The largest payments came from bet365, Entain, and William Hill, while Flutter contributed £8 million in March 2021.

Entain and William Hill initiatives were emphasized, but one noteworthy policy established was Kindred Group’s commitment to disclose its income share from high-risk players, establishing a goal of producing no money from hazardous gambling by 2023. The Entain Foundation was singled out for its activities since its 2019 launch and significant CST accomplishments. The foundation committed to donate £500 million over the next five years to causes such as responsible gambling, education and treatment, and men’s mental health, and community projects by 2021.

Quotes from the Press Release

“We are delighted to have partnered with sports clubs, gambling researchers, and athletes in a number of our key jurisdictions, including Germany, the United Kingdom, Italy, and the United States,” said Martin Lycka, Entain’s SVP for American regulatory affairs and responsible gambling, and a trustee of the Entain Foundation. The breadth of the new projects we’re announcing, as well as the caliber of the partnerships we’ve formed, is a strong support of our overall CSR strategy, and there will be plenty more to come.

Maris Catania, Kindred Group’s head of responsible gaming and research, explained: “While revealing these figures may not be popular with some audiences, it may pave the way for more fact-based discussions and data sharing in the gambling sector.” That is critical.”

With regards to diversity, Entain, Flutter, William Hill, Playtech, and 888 were all recognized for their efforts in this area. Entain was lauded for its EnTrain project and £250,000 donation to a foundation that supports young women in the sector, while 888 launched its Environment, Social, and Governance committee.

“As a board, we are committed to ensure that topics like safer gambling, the climate change agenda, diversity and inclusion, and community engagement are regularly incorporated into the group’s strategy and decision-making,” said John Mendelsohn, chairman of 888 and the 888 ESG committee.

“The establishment of this committee underlines 888’s unwavering commitment to advancing ESG performance and guaranteeing sustainable and ethical business practices across the group’s operations.”

Michael Dugher, BGC’s chief executive, stated, “This research demonstrates the enormous contribution that the regulated industry makes to the communities in which it works. She added, “Across the board, we see examples of members and their employees making a significant difference in the lives of others through their support for post-pandemic recovery, their support for local communities, charities, and grassroots sports clubs that were disproportionately impacted by the pandemic, their commitment to inclusion and diversity, and their determination to combat climate change.”

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About Lou De Aguila

Lou Ramon Aguila is a contributor for Golden Casino News. He has a degree in BSBA Legal Management with great interest in high-profile legal cases involving sports personalities. An ultimate sports junkie, he covers just about everything in the sporting world with an emphasis on the NBA, NFL, and MLB. In his past time, Lou loves to read manga, watch anime and critique pro-wrestling matches.