Peter Jackson, CEO of gaming and entertainment provider Flutter Entertainment, came forward in the Irish Times, sharing his thoughts on the Irish Gambling Bill and offering some advice for the new regulator. The company has expressed staunch support for the country’s updated gambling legislation, reiterating its commitment to safe and sustainable gambling.
Ireland Updates Its Regulations for the Digital Age
The update to Ireland’s antiquated gambling regulations has been a long time coming. The nation’s newest Gambling Regulation Bill marks a significant milestone in its journey to ensure that laws remain relevant in the digital age. The European Gaming and Betting Association (EGBA) praised the Irish government’s initiative, lauding the extensive list of safe gambling measures.
Ireland’s new legislation also found unexpected support in global sports betting, gaming, and entertainment provider Flutter Entertainment. The company has a deep Irish heritage, and its officials have released several statements congratulating lawmakers for their work on the updated regulatory framework. Company CEO Peter Jackson also recently shared his insight on the matter in a press release for The Irish Times.
The New Authority Faces Many Challenges
Jackson shared some advice for the burgeoning Gambling Regulatory Authority of Ireland (GRAI), drawing from his substantial industry experience. His chief recommendation was that the new institution should receive adequate funding. The Futter CEO used the UK regulator as an example, citing its £45 million (€51.5m) budget supporting a team of 200 employees. While not as large, the Irish authority will still require sizable funding to remain effective.
GRAI should have access to more funding each year, providing it with the ability to attract the talent required to regulate a vibrant and evolving sector that is a significant contributor to the Irish economy.
Peter Jackson, Flutter Entertainment CEO
Another vital piece of advice concerned the new regulator’s ability to remain dynamic and adaptable. Jackson noted that effective regulation depended on continuous dialogue with the industry, ensuring that all operators adhered to the same high standards. The CEO was adamant that the authority would ideally use its resources and expertise to punish offenders while allowing safe, responsible betting to flourish.
New effective controls should strengthen protections for those who may need it, but not impact the many thousands of recreational customers.
Peter Jackson, Flutter Entertainment CEO
Jackson used the opportunity to reassert Flutter’s commitment to responsible gambling, expressing hope that the company would get to work with a world-class regulator to match its status as a global industry leader. He concluded that given proper regulation, Ireland’s gambling market could accommodate a healthy and sustainable customer base while protecting vulnerable individuals.