A survey conducted by the Department of Culture, Media and Sport revealed divisions in the way UK gambling firms responded to recent restrictions on coronavirus, with two-thirds of respondents failing to access government support.
The DCMS survey entitled ‘The Coronavirus Impact Business Survey’ showed that 19 betting companies had earned government financial support while 39 had not earned it.
The specific details of those surveyed were not disclosed, but it is likely that a large majority of respondents are land based betting firms.
Of those surveyed, twenty operators had not signed into the furlough scheme of government. Three gaming firms had furloughed between 50 percent and 74 percent of the employees and 32 had furloughed between 75 percent and 10 percent.
Thirty gambling firms have announced that since the lockout they have taken a 100 percent revenue hit, in direct contrast to only two that have seen sales rise or stay the same.
Fourteen of the gambling firms surveyed saw revenue fall between 50 percent and 99 percent, while eight firms recorded revenue declines between 1 percent and 49 percent.
In response to questions about how long businesses expect they will continue to trade, 20 businesses claimed their business’ future was under threat – while another 20 reported they were not worried about future trading.
Nine betting firms claimed they will continue trading for one to three months without any government financial backing. Twenty bookmakers believed they could continue to trade with additional funding for three to six months, while a further twenty believed they could trade for more than six months.
About five were unsure as to how long they could go on running, while two had shut their doors already.