New gambling laws labelled “bad for good causes”

TV gambling advertisements, which are to become legal later in the year, could have a knock-on effect on charitable donations through damage done to National Lottery sales.

Various financial experts have already advised on the effect that the adverts might have on the UK’s mounting debt problem.

In a letter to the Guardian, Council for the Advancement of Arts, Recreation and Education Denis Vaughan said that “the decision to loosen up the regulation on advertising for gambling is a regrettable one, most of all for the National Lottery”.

Just last week, financial advisors Chase De Vere labelled the UK’s debt problem as being “worse than ever”, with more and more borrowing unsustainable amounts through unsecured loans and credit cards.

The new gaming legislation comes into effect later in the year. Reforms to the existing legislation have proved controversial, and widespread public resistance has already provided the impetus to Gordon Brown’s dropping of plans to build a new supercasino in Manchester.

Tags: UK's debt problem, adverts, decision, National, week, new gaming, guardian, Manchester

Casino to affect house prices

The news that Manchester has been chosen as the site for the UK’s first super-casino has led some industry experts to predict a rise in house prices in the city.

Nationwide Building Society described the award as a “vote of confidence” in Manchester and said the number of jobs created will affect house prices.

“This could be good news for house prices in Manchester,” said Fionnuala Earley from Nationwide.

“It will bring new jobs to the city and the decision clearly represents a vote of confidence in Manchester’s infrastructure and the city’s ability to support a new super-casino. New jobs will lead to an increased need for housing which will support local demand and house prices.”

The news is undoubtedly good for those who already own houses in Manchester as they will see the value of their property soar.

However, first-time buyers will struggle to purchase a property in the city as prices rise, while Ms Earley also says the casino may have a negative impact on the value of some homes.

“Depending on the location of the casino, there could still be some negative impact on local prices if factors, like noise, for example, become an issue,” she said.

House prices in Manchester have risen by three per cent in the last year and by 101 per cent in the last five years.

Tags: rise, site, building society, need, year, cent, Manchester, noise