Ladbrokes boss warns gamblers could be driven onto the black market

Ladbrokes Coral boss Kenny Alexander today warned that gamblers could be driven onto the unregulated black market if the industry is damaged with onerous regulation.

The comments from Alexander, who is chief executive of GVC Holdings, came as the House of Lords Gambling Industry Committee published a report calling for urgent action from the Government to reduce gambling-related harm.

Alexander backed calls for a review of the 2005 Gambling Act but pointed out that GVC had already improved its player protection policies, with a reduction in the amount of advertising and more funding for research into problem gambling.

He said: “We have to do a better job of communicating that, because those who are implacably opposed to gambling as a matter of principle are actively seeking to damage the industry through onerous regulation, which will ultimately drive customers into the hands of the unregulated black market.

“It is important that all stakeholders work together to keep gambling effectively regulated for all parties."

The House of Lords report said smartphones and the exploitation of soft-touch regulation by gambling operators had contributed to a perfect storm of addictive 24/7 gambling.

Committee chairman Lord Grade said: “Urgent action by the Government is required. Lax regulation of the gambling industry must be replaced by a more robust and focussed regime which prioritises the welfare of gamblers ahead of industry profits.”