UK Casino Revenue Report: How the COVID-19 Pandemic Has Changed the UK Gambling Landscape
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The COVID-19 pandemic has affected the gambling industry in the UK. The government-mandated lockdowns have closed down many casinos. Online casinos have picked up some of the slack.
Leanbackplayer has released a report on how the UK gaming industry was affected by the COVID-19 Pandemic. The pandemic has led to a dip in gambling revenue in the country. However, online casinos have managed to pick up some of the slack.
Both GGY and Tax Revenues have dropped in 2020 and 2021. The data from the UK Gambling Commission and the casinos themselves suggest a 15% drop in GYD. HM Revenue and Customs reports a 6% decline in the fiscal year ending in March 2021 compared to previous years.
The virus that has hit the UK gambling industry has caused huge losses. Land-based casinos have been the hardest hit. Online casinos provided a 25% increase in tax revenue. Online and remote betting provided 31% of the funds collected by HM Revenue and Customs.
The future of the gambling industry is uncertain, but the current trends point to a healthy and dormant industry. Online and remote casinos are experiencing a recent boom. The current situation is complicated by the ongoing COVID-19 virus.
