The coronavirus had a massive impact on the gambling industry worldwide. Since the start of the pandemic, gambling shares dropped. It was just one of the adverse effects of coronavirus on the global casino sector.
Top gambling companies such as Flutter Entertainment, The Stars Group, William Hill, and GVC Holdings relied on sports wagering for their revenue. Thus, the coronavirus hit them hard because of the lack of sports events last spring.
Flutter’s shares dropped by 12 percent. Also, TSG had reported a 17.5 percent decrease in their shares, leading to losses of around 110 million pounds. GVC reported losses of up to 150 million pounds in 2020.
Global Casino Sector
The Dutch gambling industry faced difficulties because the government delayed the gambling market’s launch due to new regulations. The new rules restricted bonuses. However, their online casino industry remained open based on bookie software reports. Thus, they got more players in recent months.
According to sports betting bookie software sources, around 74.6 percent of the total global gambling revenues came from land-based casinos. Thus, the closure of casinos across the globe affected their profitability.
By the end of 2020, the global casino sector would face a steep decline. According to sportsbook pay per head analyst, the Asian gambling industry didn’t suffer as much as the West. Asian land-based casino turned their patrons into online casino players.
Despite the decline in revenue from land-based casinos, online casinos continued to increase their player-base in Asia. On the other hand, Western casinos continued to stay open despite the pandemic. They delayed their closure and led to more infections.
The Asian gambling industry is resilient despite the pandemic. Asian casinos reopened in a limited capacity to ensure the safety and health of their patrons and staff. Western casinos also reopened. Despite reopening land-based casinos, players prefer using online platforms to wager on sports or play games.
