Deloitte, the highly acclaimed auditors, recently announced the results of their comprehensive report on the economic contributions of the UK’s online gaming industry. The report reveals that the industry employs more than 100,000 people, pays £700 million pounds as taxes every year, and is worth £6 billion pounds. The report has also taken into consideration the socio-economic significance of the gambling industry in the preparation of its report.
Ladbrokes, which is among the latest and most prominent gaming enterprise in the UK, stated that it commissioned the Deloitte report to correct current beliefs about the economic and social significance of the online gaming industry and its valuable contributions to UK economy. The bookmaker hopes that the report will help people to realize the significance of the industry.
Ladbrokes also has plans to request the government to lower tax rates for local bookmakers. The company claimed that the current tax structures have forced sportsbooks such as itself to seek their fortunes offshore. Christopher Bell, the chief executive of Ladbrokes, stated that the report was made at a right time for the industry and it is expected to create awareness among stakeholders as well as the government about the industry’s great contributions toward employment and economic development.
Bell also spoke about Ladbrokes’ hopes of the report causing positive changes in policy making, leading to a possible elimination of the uncertainties regarding taxation and regulating the internet gaming industry.
The report calls upon all parties concerned to strike a balance between the abilities of UK online gaming enterprise to compete in a rapidly growing market as well as effective regulation.