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Industry in focus: Gambling

One hundred years ago, betting was an illegal activity in the UK. Today the industry, now carefully regulated, is looking at diversification, social responsibility and overseas expansion in order to maintain and increase growth, says Tim Phillips.

The problem for all but the largest operators, Kannor explains, is that as the cost of regulation increases and differentiation becomes harder, economies of scale become more important. “If you have a platform you are not unique. Small operators will not be able to have a strong regulatory framework with margins being squeezed significantly. It’s down to scale and diversification, and your capital structure to achieve it.”