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Affordability checks will undermine the safer gambling success story, argues Gambling Business Group CEO, Peter Hannibal

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Affordability checks will undermine the safer gambling success story, argues Gambling Business Group CEO, Peter Hannibal
Affordability checks will undermine the safer gambling success story, argues Gambling Business Group CEO, Peter HannibalReading Time: 2 minutes

 

Peter Hannibal, chief executive of the cross-sector Gambling Business Group, has warned that the introduction of affordability checks as proposed by the UK Gambling Commission, will jeopardise the current low incidence of problem gambling and in the process undo much of the positive work that’s been achieved by the industry in partnership with its regulator and the wider stakeholder community, including the safer gambling agencies and charities.

Commenting on the Gambling Commission’s proposal that players should be required to provide evidence of affordability based on the highly controversial creation of a monthly discretionary spend ceiling – a figure which the cross-party think-tank the Social Market Foundation has recommended is set at £23 a week (£100 pcm) – Peter Hannibal said: “I would like to stress from the outset that although the Gambling Commission’s affordability proposal has been framed in relation to online players, it would be naïve in the extreme to assume that the principles and philosophy will not be extended to all gambling entertainment activities across all verticals including Adult Gaming Centres, Licensed Betting Offices and Bingo Clubs in some shape or form.

“While this proposal is wrong on virtually every level imaginable, the biggest concern for all those who genuinely care about safer gambling and continuing the UK industry’s internationally acclaimed success story in consistently maintaining problem gambling levels to below 1 percent for the last three decades, is the impact affordability checks will have on driving players away from regulated and responsible sites to unregulated offshore sites.

He added: “Currently the demand to play on unregulated sites is limited but the unintended and I assume unforeseen consequences of affordability checks will be to create such a market and then to sustain it.

“Make no mistake, this is prohibition by another name and wherever you look in the world prohibition has never worked and will never work, more than often creating exactly the set of problems that it sets out to address.”

Hannibal believes there’s a danger a proposal of this significance does not receive the necessary degree of scrutiny particularly in relation to its’ impact on safer gambling. He explained: “In December I contacted DCMS regarding what I feel was a balanced and logical set of Terms of Reference for the Review of Gambling, but pointing out that it was illogical for the Gambling Commission to be continuing their own unilateral consultation into what it refers somewhat euphemistically as ‘customer interaction requirements and guidance’.

“I argued that it would be more logical to include any proposals for controls on consumption – that could have a profound impact on the public – as part of the Government Review. It would also be in the public’s interest for proposals for such intrusions into personal affairs to be subject to the same Aim and Objectives as those DCMS have set out for the Review of the Act which appear free of preconceptions and well considered.

“The affordability proposal raises a huge range of quite fundamental ethical, legal and practical issues – not least a precedent for state intervention in consumer spending alongside a quite startling presumption that gambling entertainment, enjoyed responsibly by 99 percent of consumers, represents a public health issue way beyond that of tobacco, excessive alcohol consumption or obesity. As such it merits much deeper, evidence-based scrutiny.”


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Affordability checks will undermine the safer gambling success story, argues Gambling Business Group CEO, Peter Hannibal

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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ACR POKER CROWNS DECEMBER ‘PLAYER APPRECIATION MONTH’ WITH $500,000 IN GIVEAWAYS

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Tis the season to give back to players with supersized weekly races, massive ticket drops, and the return of the Mini Online Super Series 

ACR Poker is kicking off the holiday season in style, officially crowning December as Player Appreciation Month and celebrating its community with $500,000 in giveaways, offering something for every type of player.

Throughout December, ACR Poker’s biggest weekly races – The Beast, Sit & Crush, and Blitz Beast – are getting a serious glow-up as part of Player Appreciation Month. Each week from Saturday, November 29th to Friday, January 2nd, the prizes will be supersized. There will also be a sleigh-load of free tournament tickets dropped throughout December, giving players more chances to score big without spending a dime.

And starting Wednesday, December 17th, the Mini Online Super Series (MOSS) returns to close out Player Appreciation Month. There will be a full schedule of events with buy-ins from $0 to $109 and massive guarantees offered, with the full details released soon.

“I love that ACR is turning the whole month into one big holiday party and giving players a little extra cheer,” said ACR Pro Chris Moneymaker. “Giving back to the players who make this community is a great way to wrap up the year. Alongside supersized races, ticket giveaways and the Mini Online Super Series, players should also keep an eye out for something big from ACR on December 9th during WSOP Paradise. Stay tuned.”

Whether players are grinding tournaments, splashing in cash games, or simply logging in for some holiday fun, December is shaping up to be the most wonderful time of the year at ACR Poker.

For more information about Player Appreciation Month, visit ACRPoker.eu.

The post ACR POKER CROWNS DECEMBER ‘PLAYER APPRECIATION MONTH’ WITH $500,000 IN GIVEAWAYS appeared first on European Gaming Industry News.

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INTRALOT Announces Nine Month 2025 Financial Results

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The post INTRALOT Announces Nine Month 2025 Financial Results appeared first on European Gaming Industry News.

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Kambi initiates share repurchase programme with a value of SEK 100 million

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The Board of Kambi Group plc has decided to again exercise the buyback mandate which was received at the Extraordinary General Meeting on 18 June 2025 to initiate a share repurchase programme with a total value of SEK 100 million (€9m) which will run until 20 May 2026.

In line with its capital allocation strategy and empowered by the mandate received at Kambi’s Extraordinary General Meeting on 18 June 2025 (EGM) the board of directors (Board) of Kambi Group plc (Kambi) has today initiated a share repurchase programmes with a total value of SEK 100 million (€9m).

The programme will run from the date of this announcement until 20 May 2026 and shares acquired will be cancelled at a future date. The maximum number of shares that may be acquired is 1,672,887, and the aggregate purchase price for such acquisitions shall not exceed SEK 100 million (€9m). The aggregate number of shares that may be acquired under the mandate received at Kambi’s EGM is 2,990,362, which is equivalent to 10% of Kambi’s total issued shares at the time of the EGM resolution.

The buyback programme will be carried out in accordance with the Maltese Companies Act (chapter 386 of the laws of Malta), the Nasdaq First North Growth Market Rulebook for Issuers of Shares, the EU Market Abuse Regulation (EU No 596/2014) (MAR), and Commission Delegated Regulation (EU) 2016/1052 (the Safe Harbour Regulation). The share buyback programme is intended to benefit from the share buyback safe harbour provisions set out in MAR. To this end Kambi has entered into an agreement with Carnegie Investment Bank AB (Carnegie) to execute the buyback programmes and conduct the share repurchases on Kambi’s behalf.

The acquisition of shares shall take place on one or several occasions on Nasdaq First North Growth market in Stockholm (Nasdaq First North) and Carnegie will make its trading decisions in relation to Kambi’s shares independently of and without influence by Kambi. Payments for the shares are to be made in cash.

The programme will be effected in compliance with the trading conditions set out in article 3 of the Safe Harbour Regulation. In particular, Kambi shall not, on any single trading day, purchase more than 25% of the average daily share turnover on Nasdaq First North. The average daily share turnover is calculated on the basis of the average daily trading volume during the twenty trading days preceding the respective purchase date. In addition, share repurchases under each programme shall:

  1. not be made at a price higher than the price of the last independent trade or (should this be higher) higher than the current highest independent purchase bid on Nasdaq First North, 
  1. be made at a price per share within the price interval recorded on Nasdaq First North at any given time, i.e. the interval between the highest buying price and the lowest selling price, and 
  1. not exceed or fall below the maximum and minimum ranges set out in the EGM resolution. 

At the time of this announcement, the total number of issued shares in Kambi is 29,903,619. Kambi currently holds 2,193,675 of its own shares from prior buyback programmes which will be cancelled on or shortly after 1 December and 400,000 shares held to satisfy Kambi’s future obligations arising from its employee share option programmes.

Information on completed buybacks will be publicly disclosed in accordance with Safe Harbour Regulation and will also be available on the company’s website, kambi.com.

 

The post Kambi initiates share repurchase programme with a value of SEK 100 million appeared first on European Gaming Industry News.

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