The UK Gambling Commission (UKGC) has confirmed that all licence holders must submit regulatory returns on a quarterly basis from 1 July.
The decision follows a ‘consultation response’ to review the frequency of regulatory returns observed by all licence holders. As such, the Commission will amend Licence Condition 15.3.1 to impose mandatory quarterly submissions to improve the “harmonisation of reporting periods and to achieve unified submission dates”.
Quarterly submissions will enable the Commission to improve its budget and forecasting “through an improved ability to understand income levels on a more regular basis”.
Further advantages will allow the Commission to gather more frequent datasets from operators in a timely and accurate manner to help enhance its understanding of industry trends.
Implementing the changes, the process of submitting returns will be simplified, supporting an easier system to maintain for the Commission, which seeks to align reporting periods, and improve the quality of industry statistics.
In its decision, the UKGC recognised potential concerns about increased administrative burdens, especially within the lottery sector. However, the Commission believes that a transparent process and its guidance will mitigate stakeholder concerns.
Consequently, the Commission plans to eliminate approximately 600 requirements by standardising submission timelines across all licenses, thereby enhancing efficiency.
The Commission will adopt a 28-day deadline for submitting quarterly data, considering it sufficient and maintaining consistency with existing practices. New requirements will be communicated thoroughly, with support provided to the industry ahead of the implementation date on 1 July 2024.
As explained, “The period mandated for the submission of regulatory returns will be 28 days. This is consistent with the current requirement window for quarterly returns.”
“We recognise that some licensees preferred a 42-day window for submissions, but have decided that 28 days for the collation and submission of quarterly data is sufficient.”
The shift to quarterly returns aligns with the Commission’s objective to adopt a risk-based, evidence-led, and outcome-focused approach, enhancing its responsiveness to market dynamics and regulatory shifts, and boosting data quality for all stakeholders.
