Adrian Hon, head of game developer Six to Start, said the games industry had a track record of "conveniently ignoring or forgetting regulations that might interfere with their ability to sell to players".
"We know that many people, including children, struggle with overspending on loot boxes," he said, adding they were deliberately designed to be "habit-forming".
"The least that games companies could do is disclose the presence of loot boxes, but they won't even do that - it's an indictment of their priorities and lack of care towards vulnerable players."