Latest News
Prostrate Travel and Tourism Sector & Legal Restraints to Challenge Growth Even as Casinos Reopen
The “Casinos – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
While the pandemic and lockdowns have largely benefitted the gaming industry, the gambling sector has been less lucky faced with a tepid outlook and a mixed bag of opportunities and challenges. With 74.6% of revenues coming from the offline brick and motor sector, the closure of entertainment centers and casinos as part of the lockdowns imposed in 1st Q 2020 impacted revenues and profitability for companies. The global market for casinos is expected to decline by 10.8% in the year 2020. The abrupt halting of economic activity has pushed businesses across all industries into financial distress. Sudden fall in revenues and profits as a result of demand disruptions has resulted in workforce pruning and layoffs. Unemployment rates have hit never-before highs with the US topping the charts with 12.5% unemployed as a % of total labor force. Social outlook against this background remains grim with households expected witness erosion in wealth. Personal financial outlook, community, economy, job security confidence, purchasing and investment confidence are all tumbling as the human and economic cost of the global pandemic rises. While brick and motor casinos stagnate, online casinos are faring better although limited by lower discretionary spending. The increase in spending is coming largely from gaming addicts and from consumer clusters spending more on online retail and entertainment during the pandemic.
Even as casinos begin to reopen as lockdowns are cautiously eased in countries worldwide, they face the challenge of falling consumer confidence and spending and the still prostrate travel and tourism sector. In Las Vegas for instance which is the gambling Mecca of the world, millions of tourists and visitors make up for the large customer base at casinos. Gaming operators from Macau to Las Vegas are all anticipating a rough restart after gaming properties are allowed to reopen. In Macau, a few gaming properties have reopened but could not see desirable outcomes. In gambling destinations such as Parisian Macao, Venetian Macao, Sands Cotai Central, Wynn Palace, City of Dreams, Galaxy Macau, MGM Cotai, Grand Lisboa, MGC Macau, Star World and Wynn Macau, customer turnover still remains low. During pre-COVID-19 times, each of those casinos attracted around 200 thousand visitors every day. This extreme drop in visitor numbers is due to stringent border restrictions being followed since the month of March. Limited options for transportation and quarantine rules make it difficult for players to visit gambling destinations. With the global economy now in recession, recovery will be delayed further. Although online casinos are well suited for safe indulgence in gambling in the midst of a pandemic situation, this sector is still fledging and is plagued with legality issues. Online casinos are illegal in most parts of the United States and in countries where online casinos are legal confusion over legal boundaries of betting and gambling is a chief restraint to growth. Underdevelopment online funds transfer platforms also adds another layer of challenge to growth. In younger markets like the U.S. and Asian countries where digital prize money disbursement platforms are still underdeveloped, the challenge is bigger and more difficult to overcome. In Europe, the region with a well-developed online and offline gambling infrastructure, casino owners are innovating in digital payments by using digital wallet services to transfer funds to customers.
A return to complete normalcy will begin only after barriers to access gaming destinations are completely removed. The market is projected to reach US$159.3 billion by the year 2027, trailing a CAGR of3.7%. Offline Casinos, one of the segments analyzed in the report, is projected to grow at a 3.4% CAGR to reach US$116.3 million by the end of the analysis period. Few of the factors expected to drive growth in the post pandemic period include migration from cards to crypto currency gambling; continued evolution of online casinos supported by rapid proliferation of mobile devices and growing penetration of smart phones and tablets; development of supplicated gambling apps; growing participation of women in casinos; resurgence in casino tourism; relaxation in gambling regulations and legalization of gambling in several nations given their contribution to national income and development of local tourism.
Key Topics Covered:
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
Companies Mentioned
- 888 Holdings Plc
- Betfair Group Plc
- Boyd Gaming Corporation
- Caesars Interactive Entertainment, Inc.
- Dover Downs Gaming & Entertainment Inc
- Galaxy Entertainment Group Ltd.
- Golden Nugget Atlantic City
- Harrington Raceway & Casino
- Ladbrokes Coral Group Plc
- Las Vegas Sands Corporation
- Mgm Resorts International
- Penn National Gaming
- Sjm Holdings Ltd.
- William Hill Plc
- Wynn Resorts Limited
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Latest News
N1 Partners Drops Prediction Markets Vertical — Expand Your Traffic Strategy!
N1 Partners team has launched a new Prediction Markets vertical on the N1 Bet product, which is a new betting format for real events with simple yes/no mechanics. This is the first and so far the only SOFTSWISS product that works with this niche.
This vertical opens up expanded opportunities for partners: it provides access to a fresh audience, and also allows you to monetize and scale traffic from various sources — from politics and finance to entertainment and show business — as efficiently as possible.
What is the real benefit for partners and how does it work? Read all about the Prediction Markets vertical in the article.
Prediction Markets vertical: what is it?
Prediction Markets is a unique betting format for real non-sporting events, where the user chooses “yes” or “no” to the potential event outcome (for example, elections, the Eurovision Contest, the Oscar Awards).
Users can bet on topics in the following areas:
- politics (elections, geopolitical events)
- cryptocurrencies and financial markets
- technology and business
- social trends and global narratives
- entertainment and show business
The format is as simple as possible, does not require experience and knowledge in classic betting, therefore it may be of interest to a wide audience.
Why is the Prediction Markets format worth a test?
It is crucial to note that Prediction Markets is not just another feature; it is a unique vertical that gives access to a new, previously non-converting audience.
Reasons to test Prediction Markets:
- The threshold for the first conversion is lower than in betting;
- Works great with SEO and content traffic (news, trends, cryptosphere, politics, entertainment);
- High interest in the vertical during trending events;
- Opportunity to monetize an audience that doesn’t bet on sports or casinos.;
- It is possible to transfer users to the casino and vertical betting;
- Provides a smooth user path within the product.
Moreover, the format is as native as possible — real events constantly create new reasons for returning players, forming stable retention and LTV.
Thus, Prediction Markets is a great way to monetize an audience that has not made a profit before, and with N1 Partners you can do this as simply and efficiently as possible.
Wanna be the first to gain access to a fresh audience? Test Prediction Markets with N1 Partners now!
Scale your results with N1 Partners:
- 14+ casino and betting brands with high Reg2Dep
- 10+ Tier-1 GEOs
- CPA up to €700 and RevShare up to 55% + NNCO for top affiliates
Be number one with N1!
The post N1 Partners Drops Prediction Markets Vertical — Expand Your Traffic Strategy! appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Latest News
LuckyStreak Enters into Partnership with QTech Games
LuckyStreak, the Riga-based live games provider, has has entered into a new partnership with QTech Games, a leading game aggregator for all emerging markets, to provide best-in-class live dealer games and LuckyConnect aggregation services across its global platform.
LuckyStreak produces high-quality, immersive live dealer games at its state-of-the-art studio in Riga, Latvia, streamed to thousands of online casinos worldwide. The provider is renowned for delivering a premium experience, with QTech’s customers set to benefit from intuitive gameplay, innovative features and HD-quality streaming.
QTech Games celebrated its 10-year anniversary last year, progressing since inception from double-digit growth during its formative years to dominate an eclectic spectrum of emerging markets. To which end, it’s now a fully-fledged international powerhouse – with a reach that extends from Asia and Africa, and on to CIS-facing territories, Europe (including its new tech-hub in Spain; and offices in Malta) and Latin America.
Rory Kimber, Commercial Director at LuckyStreak, said: “We’re delighted to be working with QTech, a truly global iGaming platform solutions provider, to distribute our products to the wide range of operators they serve in a vast array of their growing markets.
“Our Live Casino product, with its fully localised capability, is perfectly suited to the breadth of territories that QTech serve, and their technology will allow the sharpest and smoothest experience for players at our tables.”
Philip Doftvik, CEO at QTech Games, said: “We’re delighted to team up with LuckyStreak, a brand renowned for its burgeoning best-in-class live casino. Naturally, we were keen to add them to our aggregation platform’s existing multifaceted live-casino catalogue, as we continue to bring together the most comprehensive collection on the market.
“Of course, there’s a huge revenue opportunity, since live dealer is such a thriving online sector in its own right. Seamless integration equips our clients with best-in-breed live games for their end users, while unrivalled customization options, dedicated tables and native-speaking dealers also make it simple to tailor the UX to any specific market’s requirements.
“LuckyStreak’s commitment to delivering engaging live-player experiences offers players, who love these games, the visceral thrill of playing in a real-world casino, while QTech’s peerless localised expertise creates fresh pathways to new audiences from Africa to LatAm, where this iGaming format is in increasing demand. We can’t wait to see how these games perform across a range of new markets.”
The post LuckyStreak Enters into Partnership with QTech Games appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Canada
St8 extends Wazdan content distribution into Ontario
St8 has extended its partnership with slot supplier Wazdan into Ontario, adding the supplier’s content to St8’s aggregation platform for operators in the Canadian province.
Under the agreement, St8 has integrated a selection of Wazdan slot titles for Ontario operators, including Mighty Fish
: Blue Marlin, 36 Coins
, Mighty Wild
: Panther Grand Diamond Edition and Mighty Wild
: Gorilla. The roll-out also includes Wazdan mechanics such as Cash to Infinity
, Sticky to Infinity
and Hold the Jackpot
.
David Fall, Business Development Manager at St8, said: “Our partnership with Wazdan has already delivered impressive results, and extending the collaboration into Ontario is an exciting next step for both companies.
“Wazdan consistently develops high-performing content backed by innovative engagement features, and we are pleased to further strengthen our offering for operators in one of North America’s most important regulated regions.”
Andrzej Hyla, Chief Commercial Officer at Wazdan, said: “This collaboration into Ontario with St8 is another milestone for Wazdan as we continue to build our presence across regulated North American markets.
“Wazdan goes above and beyond for our partners by delivering intuitive products that focus on the quality of the user’s experience, and St8’s platform provides an excellent route for our content to reach more operators and players. It has been a very rewarding process so far, and we look forward to building on this momentum together.”
The post St8 extends Wazdan content distribution into Ontario appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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