Industry News
How Gaming Industry Is Dealing with COVID-19 Pandemic
“There is nothing in the world that is not in this.”
Mahabharata, the Indian mythological epic
Well, the Hindu epic was certainly not referring to Corona. (In fact, it was referring to itself.)
If there is anything that merits such a claim at the moment, it has to be the COVID-19 virus. There is nothing indeed in the world right now that is not in the Corona-induced-fear-triggered crisis.
Its human toll is immeasurable and still growing. Businesses have been crippled. The betting and gambling industry is not immune to its effects either.
All the sports leagues in the world have been ground to a halt, suspending the entire spectrum of betting activities. Even the Olympics has been postponed. Many land-based casinos have been closed. Even those functioning are offering only limited access.
Multi-pronged Crisis
The economic impact on the gaming industry is going to be severe. Bill Miller, American Gaming Association President and CEO, has already called for government support. He listed the many sections of the gambling vertical that will be affected by the economic consequences of the COVID-19 outbreak in a statement:
“An estimated 616,000 casino gaming employees are prevented from working because of the important health and safety decisions made by state governments… The impact on our employees, their families, and communities is staggering, and the implications extend far beyond the casino floor. Leading technology companies that supply the industry, and the nearly 350,000 small business employees that rely on gaming for their livelihood, are also feeling the devastating blow of this unprecedented public health crisis.”
He predicted a grim economic situation if the government remains inactive in the near future:
“The federal government must act swiftly and comprehensively to get America’s hospitality employees, and the small businesses that support them, back to work…. In total, these mass closures will rob the U.S. economy of $43.5 billion in economic activity if American casinos remain closed for the next eight weeks.”
While he was talking about the US scenario, the situation is not much different in European and Asian countries. None of the industry experts would disagree with him on his following assessment of the industry:
“Gaming is an economic engine, employing millions of local residents, generating community investment through vital tax revenue, and supporting small businesses in communities…”
Bloom Amidst Gloom
It is not all one-way traffic of bad news either.
The e-sports sector has seemingly received a boost, with locked-down people flocking to e-sports and betting based on these games in the absence of traditional betting avenues.
Some of the gaming companies have found a sudden surge in traffic. Peter Ivanov, the head of trading at Bulgaria-based UltraPlay, says the customer interest towards its e-sports offerings is growing per day.
He says optimistically:
“We experienced a 30% increased turnover only in the first 5 days after the traditional sports shutdown. This is growing on a day-to-day basis as more people get involved. We expect this to get in 100’s% once all eSports leagues restart playing online.”
Ian Hills, general manager of Blexr, a Malta-based digital marketing and media company catering to the gaming sector, also reports similar trends:
“With the cancellation of much of the world’s sporting calendar we’ve naturally felt the effects in our sports revenues but results in our core competency of casino are holding fast, with our flagship brand recording several all-time highs over the last few weeks.”
How Industry People Are Coping
As there is a renewed buzz around e-gaming, online casinos and other internet-based activities, there cannot be a total shut down of the gaming industry.
Almost all companies have migrated to a work-from-home mode. Blexr’s Hills sums up how his company responded to the pandemic:
“We acted quickly and decisively in the face of growing anxiety about COVID-19, which is why we are entering our second week of being an entirely remote organisation. We wanted to adhere to government advice over social distancing and also we felt our collective responsibility to lessen the impact of the disease.”
Diana Rotaru, co-founder of Vegas Slots, says the best approach is to look for alternate products and support everyone around, especially the employees. She suggests:
“Regarding COVID-19, I understand that we are facing new and uncertain times. However I think people need to remain rational and try to think of the next steps and the best solution for their businesses , employees and the ones around us. It is also very important for companies to remain supportive and understanding with their employees and the people around them.”
It helped that online processes and operations can lend themselves to such quick and flexible transformation from office to home. In fact, the work-from-home option has been in vogue in several companies. Hills adds:
“Blexr has offered unlimited remote working as a flexible option for employees for over a year so we’ve got lots of battle-hardened experience at virtual meetings, VPN connections and maintaining the human interaction necessary for teams to work together.”
How Technology Companies Reacted
The technology service providers, though largely invisible to the public eye, are the rock around which the gaming industry is built. How are they doing?
Igor Markovic, a director board member at NSoft, a technology provider to betting industry based in Bosnia and Herzegovina, says his company has announced an unprecedented rescue package to the partners:
“In order to mitigate this demanding period, we have come up with a rescue package that will help our partners at this very moment and consequently, after all this is over, increase their business operation results. NSoft is ready to provide full support to its partners offering its virtual and draw-based games portfolio completely free of charge from 1 April to 1 June. Having no setup fees, no minimum monthly fees and no monthly revenue share invoices for two months will certainly help our partners to overcome these difficult months.”
Rarely do you find such remarkably generous gestures in the betting and gambling industry, where words like cut-throat and competition are more frequently used than the words like chivalry.
Be sure of that: Corona – another C-word – is bringing in some previously unheard-of positive changes too.
What’s in Store in Future?
The situation at present is such that the future can only be bright. There is no other way. But how bright it is going to be? And for whom it will shine the brightest?
There is a widely held view that e-sports and online casinos will thrive. Rotaru clearly subscribes to that view. She says:
“While live betting and live dealers are affected, there are alternative products that are unaffected by the existing situation, mainly e-sports like Call of Duty, DOTA and online Casinos games like table games and slots.”
Tim Grice, the Chief Executive Officer of Connective3, a UK-based digital marketing agency in the gaming sector, acknowledges the increased traffic towards the igaming platforms:
“We have seen an increased amount of traffic and conversions across igaming (casino/poker/bingo) as well as certain financial products and services … but there is no doubt some serious pain across multiple sectors.”
However, he expects the business to bounce back across all sectors and predicts a growth wave once the crisis is over.
“The best piece of advice I can give is to … have enough in the bank to see your business through 6 months of no revenue … and the funds to invest when the world wakes up. We’re anticipating a huge wave of growth when normality returns and as a business, we want to be in position to take full advantage.”
While COVID-19 is still wrecking its havoc, industry leaders are already planning ahead. They are clearly betting on the crisis to end – sooner rather than later.
Perhaps the real battle of epic, Mahabharata proportions will start in the gaming industry when the Corona outbreak is subsumed. Now is the time to prepare for the battle –mostly from home though.
- Innovative engagement strategy positions MeridianBet as a leader in CSR within the betting and gaming industry
- Optimized brand loyalty as active customer participation in CSR strengthens connection and loyalty
- Scalable impact, as the model is designed for expansion and could be adapted to new markets, indicating potential for widespread adoption and growth
Transforming Customers into Environmentalists and Humanitarians
MeridianBet’s pioneering initiative, Meridian Donate, is transforming the betting industry by engaging customers directly in corporate social responsibility (CSR) actions. This unique platform allows customers to actively participate in and fund various environmental, societal and humanitarian projects, setting a new standard for customer engagement and community impact.
Key Features of Meridian Donate:
- Direct customer involvement: Customers are not just donors but active participants in CSR decisions
- Diverse programs: Offers choices from global afforestation to local humanitarian efforts
- Partnerships with renowned organizations: Collaborates with entities like the Red Cross and UNICEF
Expanding Impact: A Year-by-Year Growth
The Meridian Donate platform has seen substantial growth in its scope and impact:
- Number of individual campaigns: Grew from 8 in 2021 to 20 in 2023
- National markets Integrated: Expanded from 3 in 2021 to 8 in 2023
- Direct Beneficiaries: Increased from 43 NGOs in 2021 to 159 in 2023
In 2023 alone, the platform’s expansion into eight markets facilitated 20 customer-funded campaigns, directly benefiting 159 NGOs, up from 122 the previous year.
Continued Commitment to Innovation and Community Involvement
Meridian Donate not only showcases MeridianBet’s dedication to CSR but also redefines the role of digital marketing within the industry. By converting sports bettors into active CSR participants, Meridian Donate enhances customer loyalty and brand value, making it a critical element of MeridianBet’s market strategy.
Recent Successes and Future Outlook
In its recent operation, Meridian Donate has launched an ambitious global afforestation initiative, committing to plant 20,000 seedlings across various regions. This project not only underscores our environmental commitment but also enhances our brand’s community presence. Already, several hundred contributions have been recorded in the platform’s first month, indicating robust customer engagement and support.
The post Meridian Donate: Revolutionizing CSR in the Betting and Gaming Industry appeared first on European Gaming Industry News.
Games Global Limited (“Games Global”), a leading developer, distributor and marketer of innovative online, casino-style gaming (“iGaming”) content and integrated business-to-business solutions to iGaming operators, announced today that it has launched the roadshow for its initial public offering (“IPO”) of 14,500,000 ordinary shares. The offering consists of 6,000,000 ordinary shares offered by Games Global and 8,500,000 ordinary shares to be sold by Games Global’s existing shareholder (the “Selling Shareholder”). Games Global will not receive any proceeds from the sale of the shares by the Selling Shareholder. The underwriters will have a 30-day option to purchase up to an additional 2,175,000 ordinary shares from the Selling Shareholder at the IPO price, less underwriting discounts and commissions. The IPO price is currently expected to be between $16.00 and $19.00 per share. Games Global has applied to list its ordinary shares on the New York Stock Exchange under the symbol “GGL”.
J.P. Morgan, Jefferies and Macquarie Capital are acting as joint lead book-running managers for the proposed offering. Barclays and BTIG are acting as book-running managers for the proposed offering.
The proposed offering will be made only by means of a prospectus. Copies of the preliminary prospectus relating to the proposed offering, when available, may be obtained from:
- J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by email at [email protected] or [email protected];
- Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by phone at (877) 821-7388, or by email at [email protected]; or
- Macquarie Capital (USA) Inc., Attention: Equity Syndicate Department, 125 West 55th Street, New York, NY 10019, or by email at [email protected]
A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
In any member state of the European Economic Area (the “EEA”) this announcement, and the offering, are only addressed to and directed at persons who are “qualified investors” (“Qualified Investors”) within the meaning of Regulation (EU) 2017/1129 (the “Prospectus Regulation”). In the United Kingdom, this announcement, and the offering, are only addressed to and directed at persons who are “qualified investors” within the meaning of the Prospectus Regulation as it forms part of domestic law in the United Kingdom by virtue of the European Union (Withdrawal) Act 2018 who (i) have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”), (ii) are high net worth entities who fall within Article 49(2)(a) to (d) of the Order, or (iii) are persons to whom it may otherwise lawfully be communicated (all such persons being referred to as “relevant persons”).
This announcement must not be acted on or relied on (i) in the United Kingdom, by persons who are not relevant persons, and (ii) in any member state of the EEA, by persons who are not Qualified Investors. Any investment or investment activity to which this announcement relates is available only to and will only be engaged with (i) in the United Kingdom, relevant persons, and (ii) in any member state of the EEA, Qualified Investors.
The post Games Global Announces Launch of IPO appeared first on European Gaming Industry News.
Leading the charge in the convergence of financial technology and iGaming, Genome, a cutting-edge electronic money institution, is thrilled to announce its strategic partnership with Chilli Partners, a prominent iGaming affiliate program specializing in casino games.
The collaboration marks a pivotal moment in the iGaming industry, bringing together Genome’s expertise in online financial services and Chilli Partners’ prowess in affiliate marketing. The partnership is set to redefine the landscape of affiliate payouts, offering an array of benefits to both affiliates and the iGaming community at large.
“We are excited to embark on this journey with Chilli Partners. By combining our financial expertise with their influential position in the iGaming affiliate space, we aim to set new standards for efficiency and innovation in affiliate payouts,” – noted Genome’s CEO Daumantas Barauskas.
For one, the partnership offers efficient payouts. Affiliates can now enjoy expedited and secure payouts through Genome’s state-of-the-art financial infrastructure, enhancing their overall experience and satisfaction.
It also provides global reach for Chilli Partners, as it can extend its reach to affiliates worldwide with Genome’s international payment capabilities. This allows Chilli Partners to foster a more diverse and expansive network.
The partnership streamlines financial workflows, ensuring seamless transactions and reducing administrative overhead for Chilli Partners, allowing them to focus on delivering top-notch affiliate services.
Genome is all about innovation in payments and online financial services. This approach brings new possibilities for payment options, providing flexibility and convenience for affiliates participating in the Chilli Partners program.
Lastly, the collaboration prioritizes compliance and risk management, assuring affiliates of secure and compliant transactions in accordance with industry regulations.
“This partnership aligns perfectly with our commitment to providing the best possible experience for our affiliates. Genome’s advanced financial services will play a crucial role in elevating our affiliate program to new heights”, – added Clayton Zammit Cesare, Head of Affiliates at Chilli Partners.
As the iGaming industry continues to evolve, Genome and Chilli Partners stand united in their dedication to driving positive change, innovation, and reliability. The partnership is poised to create a ripple effect, positively impacting the entire iGaming ecosystem.
About Genome
Genome is a leading EMI that provides innovative financial services, including batch payouts, SWIFT, and SEPA transfers. With a focus on efficiency and compliance, Genome empowers businesses across various industries, including iGaming, to streamline financial operations and enhance user experiences.
For more information, please visit https://genome.eu/
About Chilli Partners
Chilli Partners is a prominent iGaming affiliate program specializing in casino games. With a commitment to excellence, Chilli Partners connects affiliates with top-tier iGaming brands, offering a lucrative partnership that includes competitive commission structures and tailored support.
For more information, please visit https://chillipartners.com/
The post Genome and Chilli Partners join forces to revolutionize iGaming affiliate payouts appeared first on European Gaming Industry News.
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