Changes around reporting requirements on group jurisdiction revenue - licence condition 15.2.2
Coming into effect 4 April 2018
You are required to indicate by LCCP notification either when your group begins advertising to a new jurisdiction, or where you become aware that a jurisdiction accounts for more than the 3% (or 10% in the case of small operators) of group revenues. This notification can be done by any group company holding a Commission licence.
A ‘group company’ is any subsidiary or holding company of the licensee and any subsidiary of such holding company. In respect of a company, ‘holding company’ and ‘subsidiary’ have the meaning ascribed to that term by section 1159 of the Companies Act 2006 or any statutory modification or re-enactment thereof.
The requirement would be to notify us at such a time as the group becomes aware of the change, and would focus upon a significant or sustained change in the group’s revenue profile by jurisdiction. For this rationale we would expect that it would be reported against a usual reporting period for the group and would relate to an appropriate time-period (for example annually or quarterly), dependent on factors such as the size or organisational structure of the group.
We are keen to avoid you having to inform us of a relatively small-scale or short-term change in revenues from a particular jurisdiction, for example if group revenues derived from a particular jurisdiction just exceeded the 3% threshold, but where you do not expect this will apply in the future on a sustained basis.
Examples may include a particular sporting event or a series of results which are a one-off or would not be expected to be repeated, as we would wish you to focus on significant or sustained changes in your business model or revenue profile by jurisdiction.