The UK Gambling Commission (GC) has modified its reporting requirements, mandating that gambling operators must now submit quarterly financial reports detailing their income to the regulator.
The Commission has released information about upcoming modifications to the regulatory revenue reporting requirements for gambling operators. Emphasising the significance of submitting documents, the regulator believes that they are essential for obtaining a thorough understanding of the gambling industry's present condition, operations, and scale in the country.
“Declarations from gambling licence holders are an important source of information to understand the size and health of the UK gambling market, as well as other key information,” the UK Gambling Commission said in its cover letter.
The gambling watchdog revealed details regarding the reporting periods, saying they would be “harmonised”.
As a result, gaming service providers will submit reports outlining their revenues for the following periods:
From April 1 to June 30;
From July 1 to September 30;
From October 1 to December 31;
From January 1 to March 31.
The timing of these changes is perfect as the UK gambling sector is anticipated to benefit greatly from the upcoming major sporting events, including Royal Ascot and Euro 2024. It is predicted that bookmakers in the country will experience significant growth during this period.
