Senior Managing Director of Electrocoin John Stergides says that from 2007, more than 65 companies in our sector have disappeared. This year is just coming to an end and I am sure that 2026 is the year to bring all business and consumers better times.
It will also be the end of the traditional unpopular 7th year of the 7 year cycle – 6 years good and one with hard times. (Electrocoin John Stergides)
Electrocoin has a fair share of the limited market in this downwards trading term which has been hit by high interest rates, high inflation, the loss of consumer confidence and the high cost of living caused by last year’s budget.
Sadly, it has been worse over the last few months due to the fears arising from the Autumn Budget in terms of tax and other changes.
Everyone knows the reality that the leisure and entertainment industries are suffering with low trading.
Arcades, FEC, bingo clubs, casinos, pubs, restaurants, cinemas – everything in the sector including retail shops are all feeling the pressure points.
Over the last 12 months the entire leisure industry was in suspense mode waiting for the budget and an improvement in the trading conditions so we can look forward to better times.
We manage to have few good games like the Godzilla and King Kong pintables. Rocket Launch and Magic 7 Key and lately the Big Wheel which help to getting a fair share of the market.
The most challenges we had were in the suspense caused by the unknown results of what the budget and other tax changes were coming. This was due to a government desperate to find the extra taxes – a process which made all entrepreneurs nervous and thus led to a hold on investing or expansion.
Electrocoin’s objectives for 2026 is to do the best in bringing new products to market and to keep our loyal personnel active by offering the best service and support as we have done for nearly for 50 years.
To move forward, we will introduce a few new concepts including the latest version of DDR World version and the new football game – Football Champ in readiness for World Cup Year.
The budget and legislation will never stop; they will always be there. But we have to adapt and take what is available and invest in R&D to create new products, new jobs and new opportunities in the future which is what the DCMS is asking from the industry.
I hope the Government will give the go ahead for new flexible regulations for the amusement sector and low stakes to grow the soft land base gaming which needs an uplift. (Electrocoin John Stergides)
We are still one of the countries which offer the amusement with prizes concept in the entertainment business.
The government has to give the tools and facilities to manufacturers to create games for people to want to play and this way new jobs and new opportunities will occur throughout the whole industry.
Before the 2007 Gaming Act, the UK was the leading supplier of games over the world, but now UK manufacturing is down to no more than a few fingers on one hand as the overseas manufacturers took over.
From 2007, more than 65 companies in our sector have disappeared, including established famous manufactures like JPM, Crompton’s, Coin Master, Ace etc – with the loss of thousands of jobs.
The UK has the talent to be back on the front line and to restart the UK industry. We need the Government to provide the tools and support rather than putting obstacles and more restrictions in our way.
The handling of the Gambling Act Review is typical of all Governments looking at gambling as negative rather than positive.
They cannot distinguish between hard gambling and low stakes games with entertainment which provides fun and a challenge with small awards which help communities to enjoy fun and socialising in the Arcades, Bingo and FECs.
The budget was not what was expected, it’s still not helping the retail and leisure industry to keep going and protect jobs and this will reflect in the economy in the next few months.
It will be no surprise if we have a general election before the expected date as the economy and unemployment will show in the next few months.
If the election is sooner, and the cost of living continues to hit hard, small businesses will be key.
(Electrocoin John Stergides)
