NEWCO Formed After Merger Of Gambling Trade Associations

NEWCO Formed After Merger Of Gambling Trade Associations

In the UK, gambling associations are combining to gang up on lawmakers. A new trade group is being created to lobby politicians in an effort to have a greater voice in the growing anti-gambling outcry that’s taking over the industry.

The Remote Gambling Association in the UK is being joined by gambling trade associations. It has merged with the Association of British Bookmakers. The two organizations have formed “NEWCO”. Which is being described as the working title for an industry body that represents the gambling sector.

Senior industry sources have said about this merger, “All of the issues on responsible gambling and tax cut across the industry, so it’s time to get lined up a bit better.”

There have been a plethora of new regulations and restrictions against the gambling industry. This has made it very difficult for operators to conduct their businesses properly. The new group is looking for a CEO and Chairman to lead the organization.

The candidates for this position must prove that they have a good track record of successfully being able to influence the lobbying and political process in Whitehall, Westminster and Brussels. They must also have an established network within international and national arena of politics and media.

The ABB has been at the forefront of the fight to restrict fixed odds betting terminals in the UK. It lost the skirmish after government officials ordered for the maximum bet to be reduced from $130 every second to $2.60. They called the machines a “social blight.”

The spokesperson for the campaign, Matt Zarb-Coysin, said that NEWCO was born because the organizations relaized this mistake. He further explained, “This illustrates how discredited the ABB in particular are with policymakers and with government, given the way they handled the issue of FOBTs and their failure to acknowledge any kind of problem, which has led to resistance to any meaningful compromise. Ultimately, the £2 stake was enacted, their worst-case scenario, so it’s no surprise they’re looking for a new body to lead on this.”

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