What with leaving the EU, an upcoming election and the long delayed triennial review; things appear chaotic for the UK casino scene.

British gaming revenue hit an all time record of £12.6 billion last year showcasing growth within the sector despite increased regulation, taxes and political uncertainty. However, many have concerns how Britain’s gambling industry will fare in the wake of the economic upheaval caused by both Brexit and the upcoming general election.

“The devaluation of the pound has materially increased overseas business, and the UK market remains strong,” commented Simon Thomas, owner of lavish London casino the Hippodrome. Since England voted to leave the EU last summer, dollar and euro takings at the roulette wheels and blackjack tables inside his venue have seen a 20 percent rise.

Enticed by the weakened pound, tourists are flooding to London, while an increase in “staycations” among the domestic population, who have concerns that the sterling will not go as far abroad, has further increased gambling revenues. Two thirds of the industry’s money is taken in the bustling capital, the bulk of which is drawn from foreign visitors.

“At the moment Britain has very good value given the exchange rate, and we need to take advantage of that as best we can by offering domestic and international visitors a modern vibrant casino sector,” commented Tracy Damestani, CEO at National Casino Forum (NCF), the sole trade association for land based casinos in the UK. “Visitor numbers are holding up, but of course harsher restrictions on overseas visitors being able to easily and inexpensively travel to the UK will have an impact on all types of tourism and leisure opportunities.”

Amongst London’s tourists a record number of Chinese visits have been noted, with flights from China to the UK seeing an unprecedented 81 percent increase. This has been caused by a simpler Visa process spearheaded by the UK government, as well as the decreased pound proving tempting to foreign sightseers. London casinos the Hippodrome and the Empire have introduced Chinese staples such as Baccarat and Pai Gow in recent years to better serve their growing clientele.

“In London we have a variety of casinos that cater for different tastes and different wallets, from the world renowned ‘high end’ casinos in and around Mayfair to the larger, less exclusive venues.” Continues Damestani. “But in all of them we are fortunate to attract people from right across the world and increased visitors from China is amongst that mix.”

But what of the impact of the upcoming general election? Current British prime minister, Conservative Theresa May, caused a full-fledged media uproar recently by calling for a snap general election on June 8th, claiming the move will secure a better Brexit deal for Britain.

“The primary areas of concern for the gambling industry are gambling regulation and staff,” commented Simon Thomas, regarding the upcoming poll, “if the result is the predicted strong turnout for the Conservatives, then it will give a more stable platform for Theresa May to secure a sensible Brexit agreement, which should resolve the concerns regarding foreign workers.”

The UK government plans to announce findings of a review into the gambling sector in May. Unfortunately, the highly anticipated Triennial review has been delayed further by the election, leaving the industry in suspension as to what will happen next. Among issues being addressed is the perceived harm caused by Fixed Odd Betting Terminals (FOBT). According to key government figures, the main proposal will be a reduction for the maximum stakes that can be placed on FOBTs, a change that could wreak havoc with high street gambling sites.

“If the polls are to be believed we will probably have a Conservative Government on June 9th,” speculated Tracy Damestani, “we are then expecting the new government to announce its response to the call for evidence on machines, which will have a significant impact on casinos across the country and especially London. UK casinos have been calling for changes in regulations to allow great numbers of more modern gaming machines in British casinos, something we know our customers expect to have and which is the norm in most other jurisdictions around the world.”

The current 20 slot limit on British casinos (a much lower slot limit then it’s European counterparts) is also being assessed as part of the report.  “The current limit of 20 machines is a historical anachronism and stops casinos being able to fulfill their potential of offering gambling in the appropriate venue with the correct levels of supervision, while also earning much needed tourism income for the country,” stated Simon Thomas.  “The sooner it is corrected the better. The election will just be a delay to the process. Things will obviously run smoother if the existing team remains in place.”