The executive director of the UK Gambling Commission has urged a unified approach for international regulators in order to combat the difficulties in overseeing gambling firms with operations in several jurisdictions.
Speaking at a conference of the International Association of Gaming Regulators, Tim Miller highlighted the financial and geographical difficulties faced by gaming authorities in regulating multinational corporations.
“Whilst I’m not suggesting that a regulator needs to match the resources of the regulated, we at least need to be properly equipped to keep pace with the speed at which the industry is innovating and evolving,” said Miller.
“The emergence of a number of international gambling giants, with the resources to bring time consuming and expensive legal challenges to regulators across multiple jurisdictions, shows just how much internationalisation could disrupt our work.”
Throwing a spotlight on the UKGC’s difficulty in regulating a £14.1bn gambling sector with an £18m budget, Miller outlined his belief that the answer lies in regulators “being even more open to change.”
“Let’s continue to work together, to collaborate and to make gambling fairer and safer for all. We at the Gambling Commission are ready to take the next step and I am sure we are not alone in that.”