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John Penrose Pushes For New UK Gambling Legislation

UK gambling laws are to be revised following the recent events of Black Friday, it was confirmed this week. Ministers are currently pushing for reforms to the existing system with particular emphasis on the removal of the ‘White List’. Fronting the campaign for change is the Economic Development Minister, John Penrose, who has suggested that new requirements are essential in order to protect UK consumers from offshore operators.

The UK is to review its current ‘White List’ system following the events of Black Friday in the US.

The current ‘White List’ system, which has been in place for some time, offers recognition to licenses issued by specified jurisdictions within the European Economic Area. The updated laws will require companies targeting UK players to apply for a United Kingdom license. Such modifications will see the country follow in the footsteps of other European nations such as Italy and France where domestic licenses are obligatory.

The indictment of Full Tilt Poker, a company operating under a ‘White List’ jurisdiction, is being used as evidence for the necessity of tighter regulations.

Supporters have been quick to highlight the advantages afforded by proposed amendments – arguing that the new requirements will give local brands a head start over foreign based competitors. John Penrose, who has been placed in charge of the UK gambling policy, also noted that the current system allows offshore operators to enjoy considerable tax benefits as they target UK consumers. The Gambling Commission has said that it will be undertaking a thorough investigation into the situation before reaching any final decision. Further details are expected for publication in the months ahead as British gamers and operators alike look on with keen interest and anticipation.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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