Casino News

Liberating gambling markets 'can help economy'

2009-02-04 12:13:19

Easing the restrictions on gambling markets can have a positive effect on the economy, an expert has said.

Simon Holliday, H2 Gambling Capital director, stated that it is normal to see countries relaxing gaming laws during economic downturns because of the positive effects it can have.

"Recessions often see governments liberate gambling markets as it is one of the few policies that can raise additional taxes whilst actually stimulating the economy," he remarked.

Mr Holliday made his remarks in response to a question about whether the UK government is doing enough to help the gambling industry in the current recession.

He stated that the sector is more resilient than a lot of others and, as such, may not need quite as much assistance, although his organisation is anticipating that certain parts of the market will be hit eventually.

The Rank Group is currently leading a campaign to persuade the government to reduce the amount of taxation that has to be paid by the struggling bingo industry.