Global Gaming Market Revenues projected To Exceed $525 Billion By 2023
Palm Beach, FL – April 25, 2019 – In today’s world how many people still have a landline phone at home? Probably not many. How many people still carry a portable CD unit or a digital music device? Again probably not many. And finally how many even people still even carry a laptop to search the internet with them at all times? Ditto, not many. Everything that previously required separate devices is now embedded in that single smartphone that has become ubiquitous… and now, things that require one’s actual presence, like gaming or gambling, can be done via that same device… Mobility is everything and mobile gaming apps are generating some eye-popping revenues. A recent article (discussing a market research report) projected that: “The global gambling market is expected to reach revenues of over $525 Billion by 2023, growing at a CAGR of approximately 4% during 2017-2023.” The article continued: “The increasing per capita income, high adoption, growing interest, and rising number of dual-income households will augment the transformation of the global market. The demand for online games and increasing penetration of mobile applications across the US, the UK, Italy, and China & SAR region will help attract new players in this market over the next few years. Active tech and gaming stocks in news today include: Tapinator, Inc. (OTC: TAPM), Snap Inc. (NYSE: SNAP), Scientific Games Corporation (NASDAQ: SGMS), Zynga Inc. (NASDAQ: ZNGA), Phunware Inc. (NASDAQ: PHUN).
The global gambling market is driven by increasing penetration of online gaming and betting across the North American and European region. The increase in per capita income, high adoption, growing interest, and growth of dual-income households are some of the factors augmenting the growth of the global market. The exponential popularity and rising number of live casinos will help in the development of the global gambling market during the forecast period by ResearchandMarkets.com.
Tapinator, Inc. (OTCQB: TAPM) BREAKING NEWS – Tapinator, a developer and publisher of category leading apps for mobile platforms, today announced that it has launched a major update to Video Poker Classic, the top video poker game on mobile. Video Poker Classic is the most popular video poker game on iOS and is a leading video poker property on both Google Play and the Amazon Appstore. On iOS, the title maintains over 25,000 reviews with an average score of 4.7 out of 5.0. One of the reasons for the title’s success is its consistency with a real-world casino experience.
To quantify the size of the video poker market, we can look to certain gaming jurisdictions, such as Louisiana and Illinois, that have published data specifically on video poker revenue. In 2013, Louisiana’s adjusted gross video poker revenue was over $600 million and represented 20 percent of the state’s net daily gaming revenue. In Illinois in 2013, video poker revenue was about $300 million relative to about $1.5 billion in adjusted gross casino revenue. In 2018, the revenue for the social casino market reached $5.2 billion, according to Eliers & Krejcik. Based on the size of the video poker market as a percentage of the real-money gaming market, we believe there to be significant growth potential for video poker within the social casino segment. Video Poker Classic is currently ranked approximately in the Top 150 in Downloads and Top 100 in Grossing within the Casino category on iOS.
Our new 2.0 version brings multi-hand capability, a popular casino feature, to the game’s core single-hand gameplay. More specifically, we have introduced Triple Play, Five Play, and Ten Play for all of our 39 game types. With this new version, Video Poker Classic has the richest offering of any video poker title on mobile devices, in terms of game types, gameplay formats (Single Hand, Triple Play, Five play, Ten play) and overall functionality. “We are excited that, with this major update, we have yet again raised the bar for the video poker category on mobile devices. We are looking forward to future updates later this year that will continue to refine and optimize our category-leading product,” said Tapinator CEO, Ilya Nikolayev. Read this and more news for TAPM at: https://www.financialnewsmedia.com/news-tapm
In other gaming industry news and developments of note:
Snap Inc. (NYSE: SNAP) recently unveiled Snap Games — an all-new real-time multiplayer gaming platform featuring original and third-party games from Game Closure, PikPok, Spry Fox, Zeptolab, and Zynga. Starting today, Snap will begin rolling out a series of made-for-Snapchat games, each designed for high-fidelity, synchronous gameplay. Snapchatters can dive into gameplay right from Chat, Snapchat’s popular messaging feature, offering friends a fast and intuitive way to start playing.
Scientific Games Corporation (NASDAQ: SGMS) subsidiary SciPlay Corp. has set terms of its initial public offering, in which the publisher of digital games on mobile platforms expects to raise up to $352 million. The company said it is offering 22 million class A shares to the public, with the IPO expected to price between $14 and $16. The stock is expected to list on the Nasdaq under the ticker symbol “SCPL.” SciPlay said there will be 22 million Class A shares outstanding after the IPO, or 25.3 million shares if the underwriters exercise all options to buy additional shares, and 104.4 million class B shares outstanding. Class A shares entitle holders to 1 vote and class B shares provide 10 votes. The company is looking to go public at a time the Renaissance IPO ETF has climbed 15.6% over the past three months and the S&P 500 has rallied 10.3%.
Zynga Inc. (NASDAQ: ZNGA) a leading mobile game developer, announced that Zynga Poker, the world’s largest free-to-play poker game introduced a new Spin and Win mode in its World Poker Tour® Tournament Center. This new mode gives players the thrilling experience of playing short tournaments and a chance to win payouts of up to 10x their buy-in by spinning a prize wheel.
“Our players have asked for faster-paced tournaments with bigger rewards, and we believe Zynga Poker’s new Spin and Win tournament mode truly puts our players in the hottest seat at the table,” said Bernard Kim, President of Publishing for Zynga. “Combining this quicker, more aggressive tournament style with the famous World Poker Tournament brand gives players the most compelling virtual experience in the sport of poker.”
Phunware Inc. (NASDAQ: PHUN) a fully-integrated enterprise cloud platform for mobile that provides products, solutions, data and services for brands worldwide, recently announced a commercial agreement with Endpoint IP, an agency combining intellectual property transaction and law firm expertise with capital investment to monetize intellectual property for brands.
The agreement, which was formally executed on April 2, establishes Endpoint IP as a global agency partner of note to license Phunware’s portfolio of mobile technology patents to new companies, distribution partners and third parties for use in their products and solutions. It will also provide advisory services to the company around intellectual property licensing and enforcement as part of the ongoing engagement.
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