Zona de Azar UK – New Study Shows 23% Job Losses in Land Based Gambling Sector

UK.- June 01, 2020 www.zonadeazar.com According to a new study as many as 6.5 million jobs could be lost in the UK following the COVID-19 pandemic. Research by the Institute for Social and Economic Research at the University of Essex said that many could be short term losses with a return to work later depending on the length of the lockdown on businesses.

In the study it modelled potential damage to all sectors of industry and regarding the gambling sector that employs 100,000+ workers in land based gambling it showed that the damage could be severe with a median of 23% of job losses occurring and a worst case scenario of 54%.

Even in its best case scenario the study showed that a bare minimum of 2% of long term job losses will happen.

In England betting shops have been cleared to reopen on the 15th June and with horse racing, football and greyhound racing also starting up it is expected that even with safety restrictions in place job losses may not be as big as predicted.

However the UK casino industry is still in lockdown and no response or updates from operators or the trade body the Betting & Gaming Council (BGC) has been forthcoming on any talks with government or even between each other on reopening is known.

The latest study follows on from the one by the Office for Budget Responsibility (OBR) that said the UK economy could shrink by 35% once the COVID-19 pandemic in the UK is over.

The most severely effected is the hospitality, leisure and entertainment sector with still no indication from government if, when or how these industries can open.

Professor Matteo Richiardi , who is an expert on labour markets and led the study said, “If this is short, say a few months, the links between employers and employees of affected industries might not be severed, and individual careers might not suffer too much,” he told The Observer newspaper.

“Under a longer lockdown, losses of human capital and scarring effects will occur. The economy will still bounce back, but at a higher cost for individuals.”

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