Casino CEO Lashes at UK Politicians for Likening Failed Bank Investments to Casino Gambling
Ian Burke, CEO of Rank Group, a top operator of gaming businesses for casino gambling, bingo clubs and bookmaking services in the UK, has had enough of the negative statements directed against the casino gambling industry. This pertains to the frequent use of the term “casino banking” when referring to failed bank investments and to retail banks as “the arm of casinos”.
Mr. Burke refers to such slurs as thoughtless phrases that are unfair to both the casino and the banking industries. After all, Rank Group has an HK-based investment group that holds almost as much as 75 percent interest in their company, which made possible the creation of jobs and the contribution of revenues to the UK Treasury.
Currently, the casino industry is seeking reforms in licensing regulations that will allow them to increase the number of slot machines in smaller-sized casinos, where there is a growing demand. Mr. Burke argues that this will make casino operations more financially feasible, and has the potential to create more jobs. However, Mr. Burke sees the use of such statements as damaging because it connotes disapproval of the industry’s operations; thus, making it more difficult for the industry to elicit a fair hearing from government regulators and those who do not support their bid for licensing reforms.
The CEO of Rank Group asserts that his objective in sending such a message is for the politicians to understand that theirs is now a modern industry, where people play for fun. The negative statements about casinos are beginning to confuse the public, considering that the casino industry remains under strict regulations and has been taxed heavily throughout the years.