Connect with us
Prague Gaming & TECH Summit 2025 (25-26 March)
728x90 banner available here

Latest News

Betting Brands may Shift Focus from Sports to Casino Amid COVID-19 Pandemic

Published

on

Reading Time: 3 minutes

 

COVID-19 has shaken up the world. No one and no business has been left unaffected by the virus, and that includes the betting industry. Land-based casino and betting shops have especially felt the impact of the novel coronavirus, which has forced these establishments to close to help stop the spread of the disease. Even the biggest sports betting brands in the UK have suffered online and offline from the widescale suspension, postponement or cancellation of major sporting events.

There’s no question that as far as the gambling industry is concerned, brick and mortar betting shops and casinos have taken the hardest hit, with one of the worst cases being in Nevada, which shut down every casino on its famous Las Vegas strip back in mid-March. Nevada depends on tourism more than any other U.S. state and is used to catering to tens of millions of visitors annually. Unemployment rates are expected to go up by a minimum of 30% in the state, according to the Nevada Resort Association. This has left many to wonder and worry if Vegas’ big names like Wynn Resorts, MGM Resorts, and Sand Crop. will survive the virus’ economic impact, even with help from the financial relief plan.

That said, the closures caused by the coronavirus have been felt across the industry. For instance, the impact on big groups like GVC has resulted in the company taking steps to do what it can to alleviate the strain that has been placed on its operations. Like other companies, GVC has been working hard to lower costs and re-prioritize activity to preserve free cash while making sure its customers continue to be able to enjoy great experiences. Among these re-prioritisations has been reducing the amount spent on sports content, online sports marketing, and trading costs.

Photo source: Shutterstock

Even online Sportsbook is not Immune to Coronavirus

Naturally, the online gambling industry has a massive advantage over its land-based counterparts. No one needs to social distance online and gambling can be enjoyed safely from home 24/7 via a computer or mobile, whether one is self-isolating or in full quarantine. However, in spite of this fact, online sportsbooks continue to find it a challenge to make the most of the internet advantage.

With no active mainstream sports, online bookies have been forced to fill the void with more emphasis on the virtual world of sports, including animated versions of major horse races like the Grand National, which was canceled because of the COVID-19 pandemic. The Virtual Grand National, like other virtual races, was a computer-simulated race. It included virtual spectators and virtual ambulances that followed the runners and riders around the courses.

Beyond virtual sports, digital bookmakers have also placed greater focus on eSports as well as other lesser known events. Still, even with the focus on these other events, all online bookmakers have seen a dramatic decline in depositors and increased churn rates because it is simply far too difficult to retain players when the major sports betting markets are at a standstill.

Many of the big name gambling operators have watched the value of their shares suffer from the COVID-19 outbreak. Some of these include:

  • William Hill shares have dropped by more than half since the 21st of February 2020
  • GVC Holdings (owner of Ladbrokes Coral) has seen a drop in share prices by more than 20%
  • Flutter Entertainment (owner of Paddy Power Betfair) has seen its share value tank by over 15%

Sportsbooks May Shift their Focus to Online Casinos

Online casinos, which offer online slots, virtual table, and card games, scratch cards, live casino games, etc. are in much better shape than their sportsbook cousins and that’s because they don’t depend on sports or other major events to continue carrying on with business as usual.

As such, many bookies that also offer a casino platform may consider cross-selling their online casino products to their existing sports betting customers in an attempt to recoup some of the money they’ve lost. This tactic could work as bored housebound punters, who previously focused solely on sports, can be keener to engage in casino entertainment until they can bet on their favorite football matches or horse races again.

Since March, COVID-19 has shut down most economies and sent more than a billion people into lockdown. Like many other businesses considered non-essential, land-based gambling establishments have closed their doors until the outbreak and restrictions ease. While only time will tell how well gambling operators will fare once the worst of the pandemic has run its course, for now, all they can do is focus on their online operations and survive as best they can. For some, online casinos could potentially provide the life raft they need to stay afloat.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Betting Brands may Shift Focus from Sports to Casino Amid COVID-19 Pandemic

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

Latest News

GamCare releases Annual Report following record breaking year of support on the National Gambling Helpline

Published

on

Reading Time: 2 minutes

GamCare’s National Gambling Helpline received a record 55,228 calls and online chats from people experiencing gambling harm in 2023-24 – a 25% increase from the previous year – according to the charity’s Annual Report.

In a year marked by uncertainty over the future shape and structure of the gambling harms treatment sector following the previous government’s white paper on gambling reform, the charity continued to prioritise those at-risk of, or currently experiencing, gambling harm.

Of all calls and online chats that were responded to on GamCare’s Helpline in 2023/24, 41,070 (74%) were classed as supportive interventions. This includes supporting people with initial guidance and advice as well as delivering a seamless entry point into structured treatment services, with individuals completing treatment reporting a significant reduction in gambling-related distress and financial harm.

In March 2024, the Office for Health Improvement and Disparities published an assessment of the gambling treatment system, highlighting that 57% of individuals engaging in treatment were referred by the National Gambling Helpline. This underscores the Helpline’s critical role in connecting people to the support they need. Over 9,100 free treatment sessions were delivered in the year to April 2024, with an average of just 2.1 days’ wait from point of referral.

GamCare’s targeted programmes aimed at young people, women, and the criminal justice system provided training on how to spot the signs of harms and where to signpost into support for 10,344 professionals, and education for 53,324 young people, children and parents. The Women’s Programme, in partnership with organisations such as Refuge, trained 3,813 professionals to recognise and address gambling-related harm among women.

Margot Daly, Executive Chair of GamCare’s Board, says: “Throughout a challenging year and with heightened demand for our services, GamCare’s staff have got on with the job of preventing harm where possible and treating harm where necessary. While we expect important changes in the gambling harms landscape, we have been determined not to let this uncertainty affect our relentless focus on the people who really matter – those at-risk of or currently experiencing gambling harms.

“I would like to thank and pay tribute to our frontline staff who provide 24/7 support for all those at risk or in distress. I also want to thank GamCare’s senior executive team who have steered GamCare through a period of sustained change, and to my fellow trustees for their guidance, unwavering support and the time each has dedicated to ensuring that the charity stays on course and on mission.

“As we look ahead to how the future of the gambling harms sector is shaped, we are committed to working proactively with the NHS and other partners and commissioners to ensure that people are continually able to receive the right support at the right time.”

The post GamCare releases Annual Report following record breaking year of support on the National Gambling Helpline appeared first on European Gaming Industry News.

Continue Reading

Latest News

Kambi Group plc repurchase of shares during 18 December – 23 December 2024

Published

on

Reading Time: 2 minutes

Kambi Group plc (“Kambi”) has during the period 18 December to 23 December 2024 (the “Buyback Period”) repurchased a total of 40,000 ordinary B shares (ISIN: MT0000780107) as part of the share buyback programme, within the mandate approved at the Extraordinary General Meeting on 20 June 2024 (the “Programme”).

The objective of the Programme is to achieve added value for Kambi´s shareholders and to give the Board increased flexibility with Kambi´s capital structure by reducing the capital. The Programme is being carried out in accordance with the Maltese Companies Act, EU Market Abuse Regulation No 596/2014 (“MAR”) and other applicable rules.

During the Buyback Period, Kambi repurchased a total of 40,000 ordinary B shares at a volume-weighted average price of 99.13 SEK. From the beginning of the Programme, which started on 6 November, until and including 23 December 2024, Kambi has repurchased a total of 344,000 ordinary B shares at a volume-weighted average price of 104.94 SEK per share.

During the Buyback Period, Kambi has repurchased shares as follows:

Date Aggregated daily
volume (number of
ordinary B shares)
Weighted average
share price
per day (SEK)
Total daily
transaction
value (SEK)
18 December 2024 10,000 100.00 999,967
19 December 2024 10,000 99.39 993,929
20 December 2024 10,000 98.86 988,588
23 December 2024 10,000 98.26 982,562

All acquisitions have been carried out on Nasdaq First North Growth Market in Stockholm by Carnegie Investment Bank AB on behalf of Kambi. Following the acquisitions and as of 23 December 2024, Kambi’s holding of its own shares amounted to 344,000 and the total number of issued shares in Kambi is 29,903,619 ordinary B shares. Under the Programme Kambi is authorised to repurchase a maximum of 3,127,830 ordinary B shares, up to a maximum amount of €12.0 million.

A full breakdown of all transactions carried out during the Buyback Period is attached to this announcement.

Information on the Programme is available on Kambi’s website, https://www.kambi.com/investors/share-information/

The post Kambi Group plc repurchase of shares during 18 December – 23 December 2024 appeared first on European Gaming Industry News.

Continue Reading

Latest News

8Bit Creatives Joins Forces with ESFI as Talent Partner for WAVES Esports Championship 2025

Published

on

Reading Time: 2 minutes

The Esports Federation of India (ESFI) has joined forces with 8Bit Creatives, India’s leading esports consulting and talent management agency for the WAVES Esports Championship 2025 (WESC25). Through this collaboration, both organizations will work together for the content creation, amplification and reach of the WESC25 and take it to India’s massive youth population.

Organised by ESFI, WESC 2025 is a key initiative supported by India’s Ministry of Information and Broadcasting aimed at contributing to the growth of the nation’s burgeoning esports industry & creator economy. This event will be part of one of the Create in India Challenges by the Ministry of Information and Broadcasting under the esteemed World Audio Visual & Entertainment Summit (WAVES).

With a roster that includes some of India’s most influential gaming content creators, 8Bit Creatives will leverage the creativity and popularity of its talent to amplify the event’s visibility. Their creators, including Naman Mathur (Mortal), Payal Dhare (PayalGaming), Raj Varma (Snax), Kaashvi Hiranandani (KaashPlays), and many others, will host and participate in various engaging activities while interacting with fans to enhance the overall reach and excitement surrounding WESC 2025.

“WESC 2025 represents a tremendous leap forward for the Indian esports community. We are delighted to have 8Bit Creatives and their popular gaming creators on board, whose expertise will undoubtedly help amplify the event’s reach and impact. With qualifiers in full swing, we’re eagerly anticipating fierce competition as India’s top athletes strive for a place on the grand stage in February,” noted Mr. Lokesh Suji, Director of ESFI & Vice President of the Asian Esports Federation (AESF).

Sharing his thoughts, Animesh Agarwal aka 8Bit Thug, CEO and Co-founder of 8Bit Creatives said, “WAVES 2025 marks a groundbreaking chapter in India’s esports journey, and we’re thrilled to be the talent partners driving this initiative. As one of India’s leading talent hubs in gaming and esports, 8bit Creatives brings unparalleled energy and scale to WAVES 2025. This is more than a partnership; it’s a platform to showcase the potential of esports as a viable and celebrated career path while underscoring the government’s support for our rapidly growing gaming and creator economy. With our creators and innovative content strategies, we’re here to make history together!.”

WESC 2025 will feature competitive tournaments in popular titles such as eFootball and World Cricket Championship (WCC), played across four phases and Grand Finals. Notably, the winner of the eFootball tournament (Phase 1), MrTomBoy, won the bronze medal at the Asian Esports Games, Bangkok, showcasing WESC’s talent potential. Committed to inclusivity, the event is gender-inclusive, with qualifiers for eFootball (Phase 2) and WCC3 (Phase 1) already underway. Upcoming registrations include eFootball Phase 3 (Dec 18 – Jan 1) and WCC3 Phase 2 (Dec 15 – Dec 26).

8Bit Creatives’ esports and content division, S8UL, made history by winning the ‘Content Group of the Year’ award for the third consecutive time at the Esports Awards 2024, remaining the only Indian organization to achieve any Esports Award. Earlier this year, founders Animesh Agarwal, Naman Mathur, and creator Payal Dhare also joined Prime Minister Narendra Modi in a roundtable discussion on India’s gaming industry, showcasing 8Bit’s pivotal role in advancing esports and fostering a sustainable ecosystem for gaming content creators.

The post 8Bit Creatives Joins Forces with ESFI as Talent Partner for WAVES Esports Championship 2025 appeared first on European Gaming Industry News.

Continue Reading

Trending

EEGaming.org is part of HIPTHER, parent brand of various prominent news outlets and international conferences. These platforms and events span a wide range of industries, including Entertainment, Technology, Gaming and Gambling, Blockchain, Artificial Intelligence, Fintech, Quantum Technology, Legal Cannabis, Health and Lifestyle, VR/AR, eSports, and several others. This indicates that EEGaming.org is part of a larger network that focuses on a diverse array of sectors, particularly those related to cutting-edge technology and modern lifestyle trends.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2024 HIPTHER Agency. All Rights Reserved. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.