Entain CEO Jette Nygaard-Andersen has discussed the upcoming re-regulation of the UK gambling market, which will take place under Prime Minister Liz Truss and her newly appointed secretary of state for the Department of Culture, Media, and Sports, Michelle Donelan. Both women are known as gambling hawks who have been keener to push for tougher rules on gambling, which is why Nygaard-Andersen and Entain are preparing for what will most likely be a firmer stance on gambling.
Entain’s Boss Calm in Face of Oncoming Regulatory Changes
Entain, which suffered a record-breaking financial penalty in August, is one of the biggest British gaming giants. Speaking to Bloomberg News, Nygaard-Andersen explained that she expects restrictions on gambling sponsorships to be introduced, whereby sports clubs and football leagues would no longer be able to secure the same cushy partnerships with sports betting websites keen to spend money for the sake of brand visibility.
This is not exactly new, as calls for banning shirt sponsorships, as these partnerships are known, have been ongoing for years now and they were frequently heard during the pandemic months when anti-gambling campaigners argued that lockdown and exposure to gambling ads was a recipe for disaster. In July, the Premier League tried to get ahead of events by offering a compromise and a voluntary ban on such partnerships.
Clubs convened to discuss the prospect, with many expecting a decision in favor of a ban to follow, but there was no decision in July or any month since. Meanwhile, a much-anticipated review of the Gambling Act 2005 was delayed because Boris Johnson, the former Prime Minister, fell out of grace and stepped down from his position over a string of embarrassing scandals.
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Chris Philp, the minister who was responsible for the gambling review, urged any incoming government to act. In his resignation letter, Philp wrote that gambling addiction had a serious impact on the population and that it must be addressed. But Nygaard-Andersen is not expecting everything to be bad for Entain despite the headwinds in one of its primary markets.
In fact, Entain’s deep roots in the United States will enable the company to reap ever-strong results through BetMGM, a joint venture the company established with MGM Resorts International. As she spoke about the future, the chief executive turned down the likelihood of Entain ever being up for sale, insisting that the brand will remain a lodestar in the industry itself.
Jette-Nygaard seems confident in Entain’s bid on the US market, but the executive is equally aware that opportunities beyond Great Britain exist, and they are often more lucrative.