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Prostrate Travel and Tourism Sector & Legal Restraints to Challenge Growth Even as Casinos Reopen

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Prostrate Travel and Tourism Sector & Legal Restraints to Challenge Growth Even as Casinos Reopen
Photo Source: suntimes.com
Reading Time: 3 minutes

 

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

eSports

Worldwide Esports Industry to 2030 – Increasing Number of Events With Large Prize Pools Presents Opportunities

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Worldwide Esports Industry to 2030 - Increasing Number of Events With Large Prize Pools Presents Opportunities
Reading Time: 2 minutes

 

The “Esports Market by Application, Streaming Type, Device Type, Revenue Stream: Global Opportunity Analysis and Industry Forecast, 2020-2030” report has been added to ResearchAndMarkets’s offering.

E-sport is an online video game which is slightly different than the traditional video gaming in which the E-sports is competitive in nature that is in E-sport actual human-vs-human game is played virtually and usually has an active audience involved into it for cheering players.

E-sport tournaments usually consist of skilled or professional gamers competing against one another for a cash prize. E-sports is competitive video gaming where skill and professionalism of players is one of the most important factors. The pro gamers which played at this level know the games inside out, much like a professional footballer or athlete would in their respective fields. E-sports players can either play one-on-one or against one another or in teams.

Factors such as major shift toward video games and increase in popularity of e-sports event drives the growth of the E-sports market. However, lack of standardization in online gaming event and online threats such as gambling may restrict the market growth. Furthermore, increase in number of tournament & event with huge prize for winners and runner-up team along with long term investment opportunity in the e-sport event will create lucrative opportunity in the market during the forecast period.

The E-sports market is segmented on the basis of application, streaming type, device type, revenue stream, and region. By application, it is bifurcated into platform and service. By streaming type, it is divided into live and on demand. By device type, it is categorized into smart phone, smart TV, desktop-laptop-tablets, gaming console. By revenue stream, it is classified into media rights, game publisher fee, sponsorship, digital advertisement, tickets, and merchandise. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

This report gives an in-depth profile of some key players in the E-sports market are Activision Blizzard, Inc., CJ Corporation, Electronic Arts, FACEIT, Gameloft SE, Gfinity, Kabam, Modern Times Group, Nintendo, NVIDIA Corporation.

Key Benefits

  • The study provides an in-depth analysis of the E-sports market along with the current trends and future estimations to elucidate the imminent investment pockets.
  • Information about key drivers, restraints, and opportunities and their impact analysis on the E-sports market size is provided.
  • Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the E-sports market.
  • The quantitative analysis from 2020 to 2030 is provided to determine the E-sports market potential.

Key Topics Covered:

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Latest News

SOFTSWISS Managed Services Launch Player Reactivation Services

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SOFTSWISS Managed Services Launch Player Reactivation Services
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The SOFTSWISS Managed Services is expanding its structure with the launch of a new service – Player Reactivation. The service soft-launched in 2021 for a few clients and showed excellent results working with dormant and inactive players. The Player Reactivation service is now available to all SOFTSWISS Online Casino Platform clients.

The Player Reactivation team’s services are available in three languages: Russian, English and German. The new Managed Services department is responsible for dealing with players who, for one reason or another, display a decrease in gaming activity or lack of it. In this case the Player Reactivation team uses calls, SMS and messengers to re-engage players. 

In addition, the Player Reactivation Service helps players who might be having technical issues with making a deposit. If more than two weeks pass since a user played last, the Player Reactivation staff can also contact the account holder. The same applies to players who have made a large withdrawal. 

The Player Reactivation is part of the SOFTSWISS Managed Services which also includes:

  • First Line Support, which handles player requests and responds to chat and email queries around the clock. 
  • Player Retention email marketing service to increase player loyalty and engagement.
  • VIP Player Support that pays special attention to the biggest clients.
  • Anti-Fraud Support, providing dedicated verification and fraud prevention.

“We always strive for a better interaction with players, which allows our clients not to worry about emerging issues and to focus on the development of their business. This is why each SOFTSWISS Managed Services department is clearly aware of its responsibilities. This makes it possible to interact with the players as efficiently as possible and not to spread ourselves too thin in the process. As the number of clients and requests grew, we realised that having a separate team dedicated to player reactivation would help us concentrate on players the client had already acquired. We understand how important this part of the player pool is, so the focus of the Player Reactivation team is a targeted and personalised approach to each player”, commented Artyom Rudakov, Deputy Head of B2C.

 

About SOFTSWISS

SOFTSWISS Managed Services work in combination with SOFTSWISS Products to deliver additional value to iGaming operators and players alike. Managed Services include First Line Player Support, Dedicated Anti-Fraud Support, VIP Player Support, Player Retention, and Player Reactivation.

SOFTSWISS is a widely-acclaimed iGaming expert, supplying certified software solutions for managing online gambling operations. The company has an international team, which counts 1,000+ employees and has an official presence in Malta, Belarus, Poland and Georgia. SOFTSWISS holds a number of gaming licences, including Curacao, Malta, Estonia, Belarus, Belgium, Sweden, Nigeria, Ghana, Serbia and Greece. The company has a vast product portfolio, which includes an Online Casino Platform, Game Aggregator with thousands of casino games, the Affilka affiliate platform, Sportsbook Platform and the Jackpot Aggregator. In 2013 SOFTSWISS was the first in the world to introduce a bitcoin-optimised online casino solution.

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Aspire Global strikes key platform and managed services deal with tier 1 operator BoyleSports for their planned entry in the Netherlands

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Aspire Global strikes key platform and managed services deal with tier 1 operator BoyleSports for their planned entry in the Netherlands
Reading Time: < 1 minute

 

Aspire Global has signed an agreement to provide its full turnkey platform solution including managed services to leading Irish and UK online operator BoyleSports for its planned entry in the Netherlands. BoyleSports is also Ireland’s largest independent retail bookmaker with over 350 retail branches throughout Ireland and the UK.

Aspire Global will provide BoyleSports full proprietary offering comprising the platform (PAM), casino games and sports betting through its BtoBet sportsbook. The agreement also includes Aspire Global’s full, localized managed-services offering with the powerful CRM system, AspireEngage.

Aspire Global will support BoyleSports with all Dutch-speaking customer support and fully-managed localized CRM promotions to its players. Aspire Global will provide all the relevant tools for the compliant onboarding of Dutch players as well as integrated solutions with all main payment providers.

BoyleSports plans to operate in the Dutch market through its own license. The operator is today licensed in the UK, Ireland and Gibraltar and plans to submit its Dutch license application shortly.

Mark Kemp, BoyleSports CEO, said: “While planning for our entry into the regulated Dutch market, we were in search of a partner who could provide us with a future-proof, high-quality, turnkey solution. We have in Aspire Global found the perfect partner who will support us with leading technology, exciting games and all the localized player support we need. This will enable us to focus on the player experience and branding of our new business in the Netherlands.”

Tsachi Maimon, CEO of Aspire Global, said: “The partnership with BoyleSports is a significant confirmation of the strengths of Aspire Global’s complete iGaming offering. We are very excited about this opportunity to support BoyleSports – one of the industry’s most established brands – when planning to enter the newly regulated Dutch market.”

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