The biggest operators of UK casinos have all announced plans to reduce their annual net losses.
The UK’s largest casino operator has announced plans for a “cash flow neutral” model, with the intention of avoiding losses and maximising revenues.
Its chief executive, Paul Jones, told The Times that the company would be more risk-averse as a result.
“The new model of a cash flow neutral model, where you don’t need to do anything to make money, will allow us to keep investing in our business and continue to grow,” Mr Jones said.
“We are looking at the future and looking forward to investing more in our brands and services.”
He said the new model would help keep the UK gambling industry “competitive” in the long term.
“There is still room for growth in the industry, but there is also room for cost-cutting,” Mr Evans said.
The announcement comes on the back of strong profits from casino gambling.
The National Lottery, the UK’s biggest sports gambling operator, recorded £7.7bn of net revenue in the first quarter of the year, up £1.9bn on the same period last year.
Gambling revenues for the gambling industry have been growing since the financial crisis of 2008, but the industry’s profits have been hit by the rise of online gambling and the downturn of the UK economy.