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DCMS: UK gambling divided on COVID-19 business resilience

first_imgShare A business survey carried out by the Department of Culture, Media and Sport (DCMS) has revealed that UK gambling firms have been divided in their response to Coronavirus restrictions, with only one-third of corresponding companies accessing government support.DCMS’ survey, entitled The Coronavirus Impact Business Survey, suggested that the majority of gambling companies were land-based, however the specific details of who was surveyed has not yet been revealed.Of those surveyed, 20 operators had not signed up to the government’s furlough scheme. Three gambling companies had furloughed between 50% and 74% of staff, while 32 had furloughed between 75% and 100%.30 gambling companies revealed that they had taken a 100% revenue hit since the lockdown, in stark contrast to the 2 which had seen revenues increase or remain the same.14 of the gambling companies surveyed had seen revenue drop between 50% and 99%, while eight companies reported revenue decreases between 1% and 49%.But despite these figures, 37 of the companies surveyed revealed that they had not requested government support or taken any further mitigating measures compared to 19 which had.Betting shops in England were given the green light to reopen their doors on Monday after being closed since 23 March. One of the largest divisions that became apparent in the DCMS survey was the future prospects for trading.Responding to questions on how long companies estimate that they can continue to trade, 20 companies believed that the future of their business was under threat – while 20 revealed that they were not concerned about future trading.9 betting companies estimated that without further financial backing from the government, they could continue trading for one to three months. 20 bookmakers believed that they could continue trading for three to six months with additional support, while a further 20 believed they could trade for longer than six months.A further five were uncertain as to how long they could continue to operate, while two had already shut their doors.The survey comes at a difficult time for the betting industry, with a number of operators having to shift a large portion of their operations into the online space. With rising costs of rent on UK high streets and a three month hiatus of live sport, UK bookmakers will have to find new ways to mitigate these impacts.Whilst DCMS’ survey is limited by its pool of gambling respondents, the true impact of COVID-19 disruptions will be revealed by sector Plcs publishing their interim trading statements during the June-to-July period.Industry observers are awaiting betting Plcs to announce their trading results, following the three-month blackout of the global sports calendar. Submit Better Collective cautious on quick recovery as COVID drags growth momentum August 25, 2020 Spillemyndigheden reports decline in Q2 betting August 25, 2020 StumbleUpon Share UKGC launches fourth National Lottery licence competition August 28, 2020 Related Articleslast_img read more

3 County Education Officers Suspended

first_imgMinister of Education, Prof. Ansu Sonii Authorities at the Ministry of Education (MoE) recently set up a Special Taskforce to look into complaints from parents regarding un-prescribed fees charged by some public school administrators.As a result of the early findings, according to an MoE release, the ministry has with immediate effect, suspended three of its County Education Officers (CEOs), including, G. Samuel K. S. Bondo of Montserrado County 1, Moses S. Dologbay of Nimba County, and James G. Gaye of Margibi County, “for lack of oversight,” which led to disregard for policies within their controlled school system.According to the release, the suspension of the CEOs takes effect as of Tuesday, October 15, 2019. This action followed after an all-day deliberation held between the Senior Management Team (SMT), and Education Officers, who are the direct representatives of the minister within the counties.“Henceforth, all education stakeholders, and the public are advised not to transact any matters relative to education management or operations at the county level with the suspended persons until further notice,” the release said.The SMT’s engagement, which resulted in the above action, was predicated upon the officers’ lack of appropriate communication of changes made to the prescribed fees the MoE charged, which was stipulated in the 2019/2020 National Academic Calendar. The act on the part of CEOs was considered as disregard for direct instructions and policies of the MoE.Meanwhile, the Special Taskforce remains operational, and continuing the probe into complaints originating from other counties, as well as analyzing fees charged at private schools.The exercise for private schools, the release said, is meant to gauge details of fees charged over the last two academic years, analyze, and report the variance to determine if an increment or fees charged commensurate with the service provided.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more

Oil well drilling in Western Canada forecast to stay strong through 2015

first_imgBy assessing conventional and tight oil-directed activity by these individual unique regions, together with oil well initial productivity, the firm claims to be better able to forecast overall Western Canadian oil supply potential. It says the oil production outlook developed for each region within Western Canada creates a solid building block for the overall supply. It concedes there’s been a decline in total conventional and tight oil production since 2009, but says since then horizontal oil well drilling has soared. Ziff Energy forecasts that drilling will remain strong until after 2015 when increasing maturity of existing plays will likely result in a production slow down. However, it also says a new crop of tight oil plays could stabilize or grow production to the end of the decade.- Advertisement –last_img read more