Flutter Entertainment CEO doesn’t expect white paper until 2023
Jackson questions lack of time before Christmas and desire for new ministers to make their mark on the long-awaited document
Flutter Entertainment CEO Peter Jackson has said he doesn’t expect the white paper into the Gambling Act 2005 review to be released until 2023.
Following the London-listed operator’s Q3 results announcement, Jackson was asked for his thoughts on the document which has been hampered by delays.
He said: “On the white paper, I can’t comment on the timing because I’ve tried to comment on it for about two years now and keep getting it wrong so I don’t think anything I can say will have any credibility.
“I feel like it’ll end up coming out after Christmas, because there isn’t much time between now and Christmas and whether the new ministers want to put their mark on it or not,” the CEO added.
Last week, the new minister responsible for the white paper Paul Scully said it would be released in the “coming weeks”, despite the Department for Digital, Culture, Media and Sport (DCMS) only now looking for a senior policy advisor to lead the government’s work on the document.
Coupled with this, Parliament heads for its Christmas recess on 21 December and does not return until 9 January.
The tight timeline suggests Jackson’s prediction seems the most likely given the other pressures facing Prime Minister Rishi Sunak’s government, including the cost-of-living crisis and the war in Ukraine.
Touching on the impact of the white paper on Flutter’s UK operations, which saw UK & Ireland online revenue grow 4% in Q3 to £443m and sports betting revenue dip by 10%, Jackson noted the group was in a solid position to absorb any impact.
Jackson continued: “We’re positioned on both relative and absolute basis with the changes we’ve made to the business over the years.”
The CEO also commented on the macroeconomic environment and any potential impact it might have on the group: “We aren’t seeing any discernible impact at the moment in the UK. Let’s see what happens with the changes around energy bills but we should remember our customers are very recreationally focused.
“Typically, people are spending around £10 a week. We will see what happens, but we are confident in the business and we are seeing any impact at the moment.”