Stuart Dinsey stepped down from his role as chair of UKIE at the trade group's annual general meeting last week, and as he exited he left warning about the industry and the question of loot box regulation.
The findings of the latter are expected soon, and will reveal whether loot boxes are to be included in any changes to the UK's gambling laws.
Dinsey said what will follow will be "either acceptable self-regulation or enforced [government] action that could impact all of us, including those that do not offer loot box mechanics..."
"Final outcome is supposedly down to us as an industry," he wrote when he reiterated his thoughts via Twitter. "But in my opinion, it will most likely be determined by the promised actions -- or inaction -- of the global giants who have had a hugely profitable business model rightly challenged."
Dinsey concluded by saying he was fine with transparent in-game transactions but "uncomfortable" with loot boxes, adding he would like to see consumer protections improved.