Shifting Attitudes Changing the Online Casino Gaming and Sports Betting Landscape
FN Media Group Presents USA News Group News Commentary
Vancouver, BC – March 11, 2021 – USA News Group – No longer a taboo industry, digital casinos and gambling markets are expected to grow by $82.09 billion between 2020-2024 according to a new research report from Technavio. Much of the growth is coming from the online market, as witnessed by the UK Gambling Commission, while the overall attitude towards gambling is shifting even with the typically family-friendly Walt Disney Company (NYSE:DIS). Through its wholly-owned subsidiary, ESPN, Disney signed a multi-year partnership with Caesars Entertainment Inc. (CZR) to provide sports betting services. However, behind the scenes of this online casino and gaming revolution are innovators such as Playgon Games Inc. (TSX.V:DEAL) (OTCQB:PLGNF) (FSE:7CR), Scientific Games Corporation (NASDAQ:SGMS), and DraftKings Inc. (NASDAQ:DKNG).
One innovation that’s been quickly taking online casinos by storm is the Live Dealer option, which provides players with a genuine and authentic experience they’d normally only find in places like Las Vegas, Malta, or Macau.
Based out of a state-of-the-art studio in Las Vegas, Playgon Games Inc. (TSX.V:DEAL) (OTCQB:PLGNF) (FSE:7CR) is quickly becoming recognized in the Live Dealer space. Demand for their Live Dealer offerings is so high, the company announced it would double its studio’s table capacity.
Most recently, Playgon signed a distribution deal with a subsidiary of the Malta-based Glitnor Group, SWINTT Malta Ltd, which has an extensive presence in Europe and Asia.
“[SWINTT] are an experienced management group in our industry with a significant and rapidly growing presence in several countries across Europe,” said Darcy Krogh CEO at Playgon. “This relationship will see us greatly expand the reach of our Live Dealer product and we look forward to introducing our games to their wide base of customers.”
This Software Licensing & Distribution Agreement grants SWINTT the rights to license and market Playgon’s proprietary mobile first Live Dealer and E-Table Casino Games to its iGaming clients.
“Live dealer is a staple need for our growing client base at Swintt. Playgon’s mobile-first approach and unique offering is well aligned with our strategy to bring innovative content to the market,” said David Mann, Chief Commercial Officer for Swintt. “As we launch our live dealer offering under the SwinttLive® brand in the coming weeks, I am certain it’s addition will be a huge success.”
The SWINTT deal comes on the heels of Playgon’s soft launch of its proprietary Tiger Bonus Baccarat game, in anticipation of a more significant Asian market presence.
“Baccarat is the world’s biggest casino table game by the sheer amount wagered. I have seen baccarat grow considerably over the last 15 years. Asian high rollers have made baccarat their game of choice,” states Guido Ganschow President of Playgon Interactive. “With our mobile first approach and the unique gameplay of Tiger Bonus Baccarat we have found a perfect mix between convention and innovation that is vital to gain traction with Asian players.
Thanks to the influx of players in markets like Macau, Baccarat is one of the most profitable games in the world. R in Macau over the course of a decade grew from US$3.19 billion in 2009 to US$15.13 billion in 2019.
Along with its Live Dealer options, Playgon Games Inc. also offers operators an option to enter into the sports gambling scene, through its Daily Fantasy Sports platform.
Leading the way in sports betting is DraftKings Inc. (NASDAQ:DKNG), which is reaping the benefits of record sports betting in markets such as New Jersey.
“While we caution investors from extrapolating from single data points like this one, NJ’s gross gaming revenue (GGR) data is significant as many investors base their online gaming TAM estimates on the latest GGR per capita numbers reported by the state,” wrote Loop Capital Markets analyst Daniel Adam, referring to the TAM, or a total addressable market. He argued that the data reinforces his view that DraftKings “should emerge the clear share leader in the U.S.”
Among DraftKings’ competitors, FanDuel recently launched a Global Sportsbook Platform, that’s set to be powered by Scientific Games Corporation’s (NASDAQ:SGMS) OpenSports Technology in West Virginia.
While FanDuel’s Sportsbook has been live online in West Virginia since 2019, the company debuted its new global sportsbook solution developed in partnership with Scientific Games, that utilizes Scientific Games’ OpenBet betting engine from its OpenSports platform.
The Walt Disney Company (NYSE:DIS) may have shocked some of its followers, thwarting a previous statement by its chairman Bob Iger when the company acquired 21st Century Fox in March of 2019, when he said: Getting into the business of gambling, I rather doubt it.”
Almost two years later, that sentiment was far back in the rear view mirror, as Disney’s subsidiary ESPN signed a partnership deal with Caesars Entertainment Inc. (CZR) to create sports betting content on its platforms.
Something needed to give, as subscriptions of ESPN’s legacy networks have slumped through cable cancelations and COVID-19 hysteria. Tying in streaming and gambling is designed to help offset ESPN’s losses. Disney executives believe the global online gambling market is expected to balloon to a $90.36 billion industry in 2024, growing at a CAGR of 11.5% along the way.
Caesars Entertainment recently completed its $3.69 billion takeover of British bookmaker William Hill—which was seen as a bold move to secure the brain trust of William Hill’s globally successful sports betting empire.
“We continue to work towards satisfying the remaining regulatory conditions and look forward to completing the transaction next year and integrating William Hill US into our Caesars sports betting and iGaming franchise,” said Caesars CEO Tom Reeg.
For more info, please visit: https://usanewsgroup.com/2020/10/08/gamers-can-hold-the-live-las-vegas-experience-in-the-palm-of-their-hands/
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