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    The rise and fall of the gambling industry

    news thumbnail image

    The online gambling industry is, by far, one of the most unpredictable businesses in the world today.

    Numbers rise and fall in an instant with licenses pulled from casinos, profits skyrocketing, and new stats shocking shareholders all within the same day.

    Here are a few examples of this rise and fall within the gambling industry in recent months.

    Alderney licenses drop

    The Alderney Gambling Control Commission’s 2019 annual report revealed a sharp decline in licensees over the year, dropping to a total of only 33 licensees.

    While it's currently not possible to say what caused the decline in numbers, the AGCC will be doing an investigation into what the problem could be as their license fee income is dropping at a rapid rate.

    Not only has the total number of licensees dropped but the rate of approval dropped from 8 in 2018 to only 6 in 2019. Coupled with Genting Alderney Limited and Greentube Alderney Limited which allowed their licenses to lapse, business is not looking good for the Alderney Gambling Commission.

    Due to the current Covid-19 pandemic, the Commission has not yet been able to fully investigate the reasons for this decline.

    MGA investments take a knock

    The Malta Gaming Authority is one of the most trusted regulators in the world - and for good reason. Their strict licensing process and thorough checks make players feel safe and give casinos that hold a license a good name.

    There have been no reports of a drop in licensees for this regulator with a number of new casinos and gambling sites being approved on a regular basis. However, there have been talks of postponements in investments due to the novel coronavirus.

    After conducting a survey among its licensees in May 2020, the MGA revealed what has affected gaming revenues and the future plans of these companies. The answer was understandably the Covid-19 pandemic.

    “The survey covered a number of different areas, including the impact of COVID-19 pandemic on Gaming Revenue (GR) or revenue, operating costs and investments. It also focused on the industry concerns and actions taken by operators during this pandemic” - said the MGA.

    With sports betting licensees being hit the hardest, it was revealed that many will postpone their investment plans for 2020. It comes as no surprise as the projected gaming revenue of these businesses is said to be 40% lower than last year.

    Spanish gambling market continues to grow

    One of the most positive and unexpected market growths revealed in reports of 2019's gambling activity is in Spain.

    The year proved to be a good one for the country as they have grown by 7.1% and all this despite the drop in revenue experienced in Q4.

    The Spanish government also introduced new restrictions on gambling laws which saw a marketing expenditure rise across the board. Spanish casino licensees invested a total of €56.8 million, up 10.8%, on advertising alone in the fourth quarter of the year.

    Published: June 15, 2020

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    Article by Kally

    CasinoWow Contributor

    Hi, I’m Kally and I am proud to be part of the CasinoWow family! The last few years have helped me enrich my insights on the gambling world online and now, I can say I recognise the best casino brands and operators. I am more than happy that I get the chance of helping the players make the right choice when it comes to online casinos.

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