In a historic milestone, the National Lottery is facing a change in its licensee. Along with this change, a new regulatory framework has been introduced, adopting a results-focused approach that promotes greater opportunities and incentivizes increased investment to maintain the relevance and sustainability of the National Lottery for the benefit of the entire British community.
The Gambling Commission has announced its strategy to ensure the success of this transition and to guarantee compliance with the fundamental duties of the National Lottery, such as protecting the interests of participants and maximizing returns for charitable causes.
Key Commitments:
It will oversee and ensure the transition and implementation of the fourth National Lottery license.
Why? It will ensure the integrity of the bidding process and that the new licensee meets the required standards, ensuring evidence-based and risk-based outcomes for effective regulation.
As a result, the dedicated program for the fourth National Lottery license will ensure a solid and efficient implementation, providing tangible benefits to consumers and the general public through improvements in the National Lottery.
It will incorporate its regulatory approach into the new framework of the fourth National Lottery license.
Why? This will ensure high standards of integrity, participant protection, and contribution to charitable causes, while fostering innovation and maximizing the value of the National Lottery as an asset for the UK.
As a result, the new licensee will be able to innovate while maintaining player protection, and the general public will benefit from increased returns for charitable causes throughout the license period.
It will evaluate the impact and benefits of the new National Lottery license regime.
Why? It is essential for the Gambling Commission to ensure that the licensing competition has been successful and that the strategic objectives set for the National Lottery are being met.
As a result, it will be able to demonstrate that the National Lottery continues to be a strong and reliable institution, committed to the welfare of British society.
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