Gamesys, the UK-based gambling operator, has decided to reduce marketing exposure during the COVID-19 pandemic. The decision came amid UK’s advertising watchdogs warned sportsbooks to ensure the proper way to promote eSports betting markets.
Last week, the Gamesys group issued trading update for Q1 2020. The revenue increased by one fifth on a year-on-year basis. The group posted a total revenue of £155.3mn. The company noted strong growth in Asia and a solid performance in the UK. In the US, the company posted double-digit growth.
The company released an acknowledgment that due to the unprecedented COVID-19 pandemic, children and problem gamblers are spending much more time at home. This has also increased the time they consume media, be it Radio or TV or other platforms. This has made Gamesys take the decision to suspend the untargeted customer marketing. The company said that this has prompted the company to suspend all the TV and Radio advertising. The advertising would cease to exist until the social restrictions are eased that are imposed now. The company is, however, to continue online marketing but will suspend direct mail marketing and untargeted digital advertising.
Even though Gamesys announced the proactive steps, the Advertising Standards Authority (ASA) of the UK continues to issue guidelines. The ASA sent another reminder to gambling operators to ensure their ads are socially responsible. The Committee of Advertising Practice (CAP) issued another piece of advice to the bookmakers that eSports betting related advertisements should comply with the rules and it should also apply to the other forms of gambling advertising.
Flutter Completes Acquisition of Italian Gaming Operator Sisal
Flutter Entertainment has announced that it has completed the acquisition of Italy’s online gaming operator Sisal. The €1.913 billion deal was first announced in December.
“Flutter is pleased to announce that it has received all necessary regulatory confirmations with respect to the acquisition of Sisal and the transaction completed on 4 August 2022,” the Paddy Power owner said in a statement.
Italy is the second largest regulated gambling market in Europe after the UK, with total estimated gross gaming revenue in 2019 of €19 billion.
The business, which employs about 2500 people and is headquartered in Milan, expects to generate EBITDA of €248m this year.
Flutter said that Sisal has performed strongly since the transaction was announced with year-on-year growth of 58% in revenue to £402m and 51% in EBITDA to £120m during the first half of 2022. It noted that the previous year was impacted by Covid-related retail restrictions.
The company said the deal has been completed using debt facilities agreed at transaction announcement in December, bringing Flutter’s expected weighted average cost of debt to approximately 3.4% for the second half of this year.
AstroPay Appoints Fayyaz Ansari as CFO
AstroPay has appointed Fayyaz Ansari as its Chief Financial Officer (CFO).
Having worked in finance for over 20 years, Fayyaz brings with him a deep understanding of the global payments industry. Prior to joining AstroPay, he was working at Skrill, NETELLER & Income Access (part of Paysafe Group Plc) as CFO of their digital wallet division and board member of their regulated entities. He will be based in the UK with responsibility for overseeing all aspects of AstroPay’s global financial management and activities.
Fayyaz’s extensive leadership experience includes controllership, treasury, financial planning and analysis, tax restructuring, corporate finance, performance management, M&A and strategic planning. He also managed other aspects of the finance function which includes banking, investments, financial systems and was involved in fundraising as well as coordinating efforts for an exit via a trade sale/ IPO.
“I am delighted to welcome Fayyaz to AstroPay where he will undoubtedly make an immediate impact as we aim to become the world’s leading payments platform. His wealth of experience will be essential in implementing our strategic plans to accelerate growth and position AstroPay for the future. Fayyaz and the team will contribute to our mission of providing financial freedom to millions of people worldwide. He is an excellent addition to the AstroPay team and I look forward to working with him in our journey,” Mikael Lijtenstein, CEO of AstroPay, said.
“I’m thrilled to have the opportunity to join AstroPay as the next step in my career. I am excited about working with a team that is passionate about the business, has a clear strategy and always puts customers’ needs first. With its commitment to global expansion, a strong business model, a focus on diversity and proud history, AstroPay is well positioned for extraordinary growth and impact. I believe the company’s unique value proposition and strong foundation will allow the business to grow and execute its vision of making payments much more accessible to customers around the world,” Fayyaz Ansari, CFO of AstroPay, said.
Casinos Market Growth USD 764861.32 million by 2027
A casino is more of a tourist attraction and indoor amusement zone. It offers services in hotels, restaurants, and shopping malls. The majority of the revenue comes from gambling. Casinos are concentrated in certain regions because gambling is illegal in several parts of the world.
Casinos Market report analysis benefits to shape the competition within the businesses and policies for the competitive environment to improve the possible revenue. The report evaluates key opportunities in the market and plans the factors that are and will drive the progress of the industry. Taking into account earlier growing patterns, growth drivers, and existing and upcoming trends, we also estimate the overall development of the Casinos Research during the forecast period.
In short, the Casinos Market report is helpful for industry players, investors, consultants, business strategists, researchers, and all those who is having any kind of interest or are planning to venture into the Casinos Market in any way. The global Casinos market size was valued at USD 545645.2 million in 2021 and is expected to expand at a CAGR of 5.79% during the forecast period, reaching USD 764861.32 million by 2027.
Casinos Market Segmentation: –
Market segments help decision-makers direct the product, sales, and marketing strategies, and can power your product development cycles by informing how you make product offerings for different segments.
Based on types –
- Gambling Machines
- Gaming Tables
- Online Legal Casino Gaming Services
Based on applications
Market segment by Region/Country including: –
- North America (United States, Canada, and Mexico)
- Europe (Germany, UK, France, Italy, Russia and Spain, etc.)
- Asia-Pacific (China, Japan, Korea, India, Australia, Southeast Asia, etc.)
- South America (Brazil, Argentina, Colombia, etc.)
- Middle East & Africa (South Africa, UAE, Saudi Arabia, etc.)
Key Players in the Casinos Market: –
- Delaware Park
- Tropicana Entertainment
- Caesars Entertainment
- Harrington Gaming
- Grupo Fobes
- William Hill
- 888 Holdings
- MGM Resorts
- Boyd Gaming
- Galaxy Entertainment
- Penn National Gaming
- SJM Holdings
- Las Vegas Sands
- Dover Downs Gaming & Entertainment
Key Benefits of Casinos Market Research Report:
- Types, applications, regions, and key players covered in the study
- Industry drivers, restraints, and opportunities covered in the study
- Recent industry trends and developments
- Competitive landscape & strategies of key players
- Historical, current, and projected market size, in terms of value
- In-depth analysis of the Casinos Market
- Sales, price, revenue, market share, and growth rate are covered in the report sales channels, distributors, traders, dealers, etc. are covered in the report
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