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
Latest News
Atlaslive Partners with Oddin.gg to Elevate Esports Betting in LATAM, Offering 24/7 Betting Markets and Cutting-Edge Odds Feed
Atlaslive, a leading provider of innovative iGaming software solutions, has announced a strategic partnership with Oddin.gg, the premier B2B provider for esports betting. This collaboration will enable Atlaslive to expand its comprehensive Sportsbook offerings, providing LATAM operators with cutting-edge esports betting services that feature real-time odds, live streams, and a wealth of fast-paced betting markets.
“As a company committed to providing scalable, reliable, and flexible iGaming solutions, our partnership with Oddin.gg is the perfect complement to Atlaslive’s mission of delivering excellence to our partners,” said Lidiia Vakulenko, COO of Atlaslive. “This collaboration enables us to bring the full potential of esports betting to the LATAM market, offering our partners advanced tools for managing odds and creating a more engaging experience for esports fans.”
By integrating Oddin.gg’s award-winning esports betting ecosystem, Atlaslive enhances its dynamic iGaming Platform with an unrivaled esports betting experience. This includes an esports-centric odds feed and 24/7 content, ensuring that operators can consistently offer a dynamic range of markets to eager bettors. Oddin.gg’s seamless iFrame solution also simplifies the front-end integration for Atlaslive’s partners, allowing for efficient access to a wide array of esports events and betting options with minimal operational overhead.
Oddin.gg is renowned for its end-to-end esports betting ecosystem, which includes a multi-award-winning odds feed, risk management services, live esports data, and a variety of other solutions tailored to the needs of esports operators. This partnership is poised to accelerate the growth of esports betting in Latin America, a region experiencing a surge in interest for competitive gaming.
“Partnering with Atlaslive is a natural step in expanding our presence in Latin America, which we consider our second home,” said Marek Suchar, Managing Director at Oddin.gg. “As a platform deeply rooted in the region’s B2B landscape, Atlaslive brings a focus on delivering a trustworthy, flexible, and scalable solution. Together, we’re eager to push the boundaries of esports betting in this high-potential market. Through our collaboration, we aim to offer an unparalleled esports betting experience, catering to the rapidly evolving needs of LATAM operators and bettors.”
With esports growing in popularity across Latin America, this partnership solidifies Atlaslive’s role as a key player in the region’s iGaming sector. The addition of Oddin.gg’s advanced esports offerings allows Atlaslive to better serve operators looking to tap into this rapidly evolving market.
The post Atlaslive Partners with Oddin.gg to Elevate Esports Betting in LATAM, Offering 24/7 Betting Markets and Cutting-Edge Odds Feed appeared first on European Gaming Industry News.
COO of Atlaslive
Atlaslive Partners with Oddin.gg to Elevate Esports Betting in LATAM, Offering 24/7 Betting Markets and Cutting-Edge Odds Feed
Atlaslive, a leading provider of innovative iGaming software solutions, has announced a strategic partnership with Oddin.gg, the premier B2B provider for esports betting. This collaboration will enable Atlaslive to expand its comprehensive Sportsbook offerings, providing LATAM operators with cutting-edge esports betting services that feature real-time odds, live streams, and a wealth of fast-paced betting markets.
“As a company committed to providing scalable, reliable, and flexible iGaming solutions, our partnership with Oddin.gg is the perfect complement to Atlaslive’s mission of delivering excellence to our partners,” said Lidiia Vakulenko, COO of Atlaslive. “This collaboration enables us to bring the full potential of esports betting to the LATAM market, offering our partners advanced tools for managing odds and creating a more engaging experience for esports fans.”
By integrating Oddin.gg’s award-winning esports betting ecosystem, Atlaslive enhances its dynamic iGaming Platform with an unrivaled esports betting experience. This includes an esports-centric odds feed and 24/7 content, ensuring that operators can consistently offer a dynamic range of markets to eager bettors. Oddin.gg’s seamless iFrame solution also simplifies the front-end integration for Atlaslive’s partners, allowing for efficient access to a wide array of esports events and betting options with minimal operational overhead.
Oddin.gg is renowned for its end-to-end esports betting ecosystem, which includes a multi-award-winning odds feed, risk management services, live esports data, and a variety of other solutions tailored to the needs of esports operators. This partnership is poised to accelerate the growth of esports betting in Latin America, a region experiencing a surge in interest for competitive gaming.
“Partnering with Atlaslive is a natural step in expanding our presence in Latin America, which we consider our second home,” said Marek Suchar, Managing Director at Oddin.gg. “As a platform deeply rooted in the region’s B2B landscape, Atlaslive brings a focus on delivering a trustworthy, flexible, and scalable solution. Together, we’re eager to push the boundaries of esports betting in this high-potential market. Through our collaboration, we aim to offer an unparalleled esports betting experience, catering to the rapidly evolving needs of LATAM operators and bettors.”
With esports growing in popularity across Latin America, this partnership solidifies Atlaslive’s role as a key player in the region’s iGaming sector. The addition of Oddin.gg’s advanced esports offerings allows Atlaslive to better serve operators looking to tap into this rapidly evolving market.
Latest News
BETBY’S BETTING MARKETS FOR THE 2024 US PRESIDENTIAL ELECTION “A HIT” AMONGST ITS PARTNERS
In anticipation of one of the most significant global political events, in the run-up to the highly anticipated US Presidential election premium sports betting supplier BETBY has expanded its offerings with a dedicated section. This move caters to the surge in interest from its clients’ bettors, who have shown unprecedented engagement with the election-related bets in recent weeks.
Sergey Tsukanov, Chief Product Officer at BETBY, highlighted the importance of this special bets content: “We are closely monitoring major global events, including the 2024 US Presidential election. For all our clients, we have created a special ‘US Presidential Election’ section featuring all available markets for the upcoming election. Our experienced trading team has presented its view through winner odds and a large number of additional bets, such as state-by-state results, candidate vote percentages, and much more.”
Tsukanov adds that: “The betting volume for this election has already surpassed that of the previous presidential race and continues to grow as the event approaches.”
BETBY’s trading team is committed to enhancing the client experience by providing live betting options on election day, ensuring comprehensive and real-time engagement for all users.
BETBY will showcase its premium sportsbook solutions and services at the upcoming SiGMA Europe Summit. Attendees can learn more by visiting booth 1122 or exploring betby.com.
The post BETBY’S BETTING MARKETS FOR THE 2024 US PRESIDENTIAL ELECTION “A HIT” AMONGST ITS PARTNERS appeared first on European Gaming Industry News.
-
gaming2 years ago
ODIN by 4Players: Immersive, state-of-the-art in-game audio launches into the next generation of gaming
-
EEG iGaming Directory8 years ago
iSoftBet continues to grow with new release Forest Mania
-
News7 years ago
Softbroke collaborates with Asia Live Tech for the expansion of the service line in the igaming market
-
News6 years ago
Super Bowl LIII: NFL Fans Can Bet on the #1 Sportsbook Review Site Betting-Super-Bowl.com, Providing Free Unbiased and Trusted News, Picks and Predictions
-
iGaming Industry7 years ago
Rick Meitzler appointed to the Indian Gaming Magazine Advisory Board for 2018
-
News6 years ago
REVEALED: Top eSports players set to earn $3.2 million in 2019
-
iGaming Industry7 years ago
French Senator raises Loot Boxes to France’s Gambling Regulator
-
News7 years ago
Exclusive Interview with Miklos Handa (Founder of the email marketing solutions, “MailMike.net”), speaker at Vienna International Gaming Expo 2018