In a recent statement, the CEO of Flutter Entertainment, Peter Jackson, has issued a warning about the potential “serious” consequences that could result from certain provisions within the proposed gambling legislation in the United States.
Flutter Entertainment, one of the world’s largest online gambling companies, has raised concerns about the impact of certain measures within the gambling bill that could potentially restrict their ability to operate in the US market. The company, which owns popular brands such as FanDuel and Paddy Power, has been a major player in the US sports betting market since the Supreme Court lifted the federal ban on sports betting in 2018.
Jackson stated that while Flutter supports efforts to regulate the gambling industry and ensure consumer protection, certain aspects of the proposed legislation could have unintended consequences for both businesses and consumers. He specifically highlighted provisions that could limit the ability of online gambling operators to offer certain types of bets or promotions, which could ultimately reduce competition and innovation within the industry.
The CEO also expressed concerns about the potential for increased black market activity if overly restrictive regulations are put in place, as consumers may turn to unlicensed or illegal operators if they are unable to access their preferred betting options through legal channels. Jackson emphasized the importance of striking a balance between protecting consumers and allowing for a competitive and thriving gambling market.
Flutter Entertainment is not alone in raising concerns about the proposed gambling legislation in the US. Other major players in the industry, such as DraftKings and MGM Resorts, have also voiced their opposition to certain provisions that they believe could stifle growth and innovation within the sector.
As the US continues to expand its legal gambling market, with more and more states legalizing sports betting and online gambling, industry stakeholders are closely monitoring the regulatory landscape to ensure that it strikes the right balance between consumer protection and industry growth. The concerns raised by Flutter Entertainment highlight the challenges that lawmakers face in crafting legislation that promotes a safe and competitive gambling environment while also allowing for innovation and growth within the industry.
