According to the latest survey by the UK Government, the majority of gambling firms have experienced revenue fall by at least 50% year-on-year as a result of the COVID-19 pandemic.
The Coronavirus Business Survey conducted by the Department of Culture, Media and Sport (DCMS) between the 23rd April and 22nd May includes a wide range of industries, including gambling businesses.
The survey showed that since the lockdown in March, year-on-year revenue was down by 100% for thirty gambling businesses, while fourteen businesses saw a revenue drop anywhere between 50% and 99%. Eight companies experienced a decline between 1% and 49%, and only two mentions a revenue increase or remained the same.
Most companies relied on the Government’s furlough scheme, with thirty-two firms furloughing between 75% and 100% of their employees. Only three companies had furloughed between 50% and 74% of staff, and twenty operators decided not to use the scheme at all.
In addition, twenty gambling companies stated their ability to trade as a viable entity is under threat from the time of taking the survey to mid-July, while twenty other companies expressed no visible concern.