For any business in the gambling industry, the stock figures are necessary factors in drawing budgets. To get an insight into their current figures and predict the direction they are headed in the coming year, the casino stock markets undergo a yearly review. However, with the impact of the pandemic on most businesses, seeing the industry thrive might come as a surprise.
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For the online gambling industry, the year 2020 has been a reasonably good year. On the contrary, the offline gambling industry suffered a huge blow due to the closures of venues. Notwithstanding, the news of a vaccine came with reasons to expect more from the year 2021. While some predictions might seem wildly optimistic, one can only hope for the best.
Mergers and Acquisitions in the Online Gambling Industry
During his guest show interview on GI, Digitain strategic consultant Peter Nolan made projections on mergers and acquisitions for 2021. He strongly believes with the advent of the vaccine, 2021 looks promising. Even though expectations have to be managed, huge enterprises have signed deals and to take place amongst themselves for years to come. Notable examples are agreements between Evolution Gaming and NetEnt, Stars Group and Flutter Entertainment, and Eldorado Resorts and Caesars Entertainment.
Undisputedly, the online gambling community-made immense progress in 2020. While millions of people were in isolation, online gambling served as a pastime for many over these past few months. By this logic, more mergers and acquisitions between online gambling corporations are expected in the year 2021.
For sports betting website, 2020 took a nosedive. With all major sporting events canceled at the peak of the pandemic and sports calendars delayed, betting firms had no other choice than to wait. With nothing to wager on, sports betting establishments witnessed a plummet in revenue. Despite that, in the last quarter of the year sports did make a comeback as teams were constantly being tested and social distancing rules were maintained.
In an effort to survive the pandemic, many sports betting establishments had no other choice but to adapt to current changes and provide alternative gambling services. Due to adaptability and flexibility, big platforms like 888 that offer alternative gambling services were able to triple their stocks.
Online casino gambling made huge progress during the pandemic. For example, online poker amassed the biggest revenue in the global markets to date. A significant number of land-based establishments turned to online gambling retail. While digital marketing played a huge role in bringing gambling establishments to the limelight, digitalization has proved to be a smart move for any business in the years to come.