How business can be a positive catalyst for change post-Covid

As governments around the world begin implementing recovery plans, emboldened by hope on the horizon, now is an important time to consider the long-term impacts of the Covid-19 pandemic on the gambling sector, our communities and society as a whole. More importantly, it is an opportunity for the industry to think about how we respond. The short-term challenges of the pandemic have been met with agility and flexibility, with businesses protecting their people, stopping the spread of the virus and mitigating operational challenges. But the pandemic has created seismic change across the world, forcing us to adapt the way we live and challenging the accepted norms of how our society works. Businesses have become, more than ever, essential to their communities, helping to focus our purpose on more than just the bottom line. If we are to recover and rebuild, and in the process protect the long-term futures of our people and society, the industry must also carefully consider how we respond to the longer-term challenges of the pandemic, not just the short term – and this is something that cannot be done alone. The opportunity for business to be a positive catalyst for change post-Covid-19 is an essential challenge to which the gambling industry must rise.

To truly improve, first we need to listen

The changes in society brought about by the pandemic come at a time when our industry is at an important stage of its growth and maturity. As the industry has changed, becoming a global, digitised entertainment experience, it has meant that gambling companies are an increasingly important part of the mainstream leisure landscape and an increasingly important part of people’s lives and society. Moreover, the rapid pace of technological change and development has the potential for positive impact in our industry more than most. As CEO of Playtech I believe that technology can also play an important role in helping to raise standards in the industry. Although we have made progress, we recognise we must continue to strive to do more and do more quickly. Technology can be a great force for good, but we also must recognise the increasing stakeholder attention and concerns, from digital wellbeing to explainable AI to unfair bias and security and privacy. We want to commit to deliver the good while addressing the risks. And we must do the necessary work to better understand those risks. To do that the industry must listen more. Playtech has started its journey to try and better understand and fulfil its potential role in this. Over the last 12 months, we’ve worked with academics, charities and thought leaders in, and outside, the gambling sector to deliver Sustainable Success – our commitment to growing our business in a way that has a positive impact on our people, our communities the environment, and our industry. But we need to continue to challenge ourselves about how best to utilise its scale, reach and data capabilities to build a sustainable, successful and safer gambling entertainment industry for the benefit of all stakeholders. We recognise this is just the start of our journey and we want to do more. As part of the industry’s commitment to making long-term sustainability part of its DNA, we must all commit to challenge ourselves and hold a mirror up to what we do. To continue to strengthen our stakeholder engagement into 2021, Playtech has launched our first Stakeholder Advisory Panel. Throughout the year we will host a series of panels comprised of thought leaders, policy and sustainability experts from leading institutions inside and outside of the sector. This is with a view to challenging and informing our work on sustainability, our culture and purpose and our work on safer gambling and mental health. Our aim is to improve the positive impact we as a business can have on society, and that is now more essential than ever.

Recovery and resilience

A key positive to come out of the pandemic has been the strength that many have found in their communities – from next-door neighbours to whole industries and ecosystems working increasingly closely together. If it was ever needed, the pandemic has reminded us all that our safety and prosperity is reliant on more than just ourselves. Like all companies, businesses in the gambling sector are an important part of their local communities. Moreover, our industry is reliant on the support of many charities, social enterprises and stakeholders in our communities and end markets. Not only are the services these charities provide essential for the long-term success and sustainability of the gambling industry, such as safer gambling treatment, research and education, but also for helping to address the unprecedented toll that the pandemic is having on people’s mental health and wellbeing. The mental health impacts of the pandemic will be large, long-lasting, and greatest in disadvantaged and vulnerable groups and communities. At a time of great interruption to funding, organisations delivering these services have had to quickly invest in technology and new ways of working to ensure services can be delivered and accessed remotely. But many face a battle for survival to continue providing these services. I have been proud to see the work done by leading companies in our sector to support their local communities during the pandemic, and the time has come now to look to how, as leaders in our communities, we can do more to support as the longer-term challenges from Covid-19 will be with us for a long time. To support our communities and the industry to help address the long-term challenges of the pandemic, Playtech is announcing a £3m Covid-19 Recovery and Resilience Fund. The Fund aims to assist non-profit and social enterprise organisations delivering mental health and wellbeing services in Playtech’s end markets and local communities, prioritising support for organisations who are delivering programmes to people affected by gambling-related harm, domestic abuse and unemployment, as well as at-risk groups such as young people, frontline healthcare workers and first responders. The fund will be managed and distributed by Charities Aid Foundation (CAF). Ultimately, when I reflect on the impact of the pandemic for our industry, I see it as the time when the connection between us all – and more specifically businesses and the communities in which we operate – became stronger. I also see it as an opportunity to work with stakeholders and organisations inside and outside our industry so that we can foster a stronger, sustainable and more resilient future. Mor Weizer was appointed Playtech CEO in May 2007. Prior to being appointed CEO, he was the chief executive of one of Playtech subsidiary Techplay Marketing, which required him to oversee the group’s licensee relationship management and product management for new licensees and the group’s marketing activities. Before joining Playtech, Weizer worked for Oracle for more than four years, initially as a development consultant and then as a product manager, which involved creating sales and consulting channels on behalf of Oracle Israel and Oracle Europe, the Middle East and Africa.