The UK Gambling Commission and Department for Culture, Media and Sport proposed the changes.
UK.- The UK Gambling Commission and Department for Culture, Media and Sport (DCMS) proposed a new scheme regarding UK gambling operators’ license fees.
The new changes will be implemented in April 2017 and according to the Gambling Commission, 1,900 out of its 3,000 licensed operators will have their fees reduced, with a third remaining the same and only 100 subject to an increase.
The Commission explained that its operating costs have been reduced in recent years and that the new structure, which is still pending approval from the Government, would reduce licence fee income by around 10 percent. Since the new fee scheme will introduce more bands based upon gross gambling yield (GGY), smaller operators are likely to pay much less.
“The Commission has reviewed its fees in light of a full year of operation since its remit was extended by the 2014 Act to include the licensing and regulation of overseas operators,” said the Gambling Commission in a statement. “Its review has confirmed that, while its overall costs have increased with the extension of its functions, its income from licence fees is, and will continue to be, in excess of its operational costs. Its recommendations to government for changes to licence fees have therefore been developed in this context.”