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Europe’s Online Gambling Growth Boosts Entire Industry

FN Media Group Presents Microsmallcap.com Market Commentary

 

New York, NY – February 17, 2022 – According to a year-end data report released by the European Gaming and Betting Association (EGBA) in partnership with H2 Gambling Capital, online gambling revenue in Europe is expected to grow by 19% this year, to US$99.5 billion gross gaming revenue (GGR). The growth in Europe’s online gambling market is expected to continue and be accelerated by the pandemic. Indeed, online GGR is expected to grow by around 9% per year and reach 41% of total gambling revenue in Europe by 2026, up from 26% in 2019. In addition, we see a fast increase in mobile gaming usage among consumers. Maarten Haijer, Secretary General, EGBA said that there is still significant scope for online development in markets such as France, Germany, Italy and Spain, where the online share of the total gambling market is still relatively small despite the online markets in these countries being relatively mature. Bragg Gaming Group (NASDAQ:BRAG) (TSX:BRAG), Penn National Gaming (NASDAQ:PENN), Scientific Games Corporation (NASDAQ:SGMS), Enthusiast Gaming Holdings Inc (NASDAQ:EGLX) (TSX:EGLX), and Bally’s Corporation (NYSE:BALY) are companies playing in the online gambling sphere.

 

Global gaming technology and content specialist Bragg Gaming Group (NASDAQ:BRAG) (TSX:BRAG) is expecting multi-year growth in its business based on the success of the continued expansion of its iGaming content and platform and new market strategy. Thanks to  Bragg‘s current operating momentum, the company expects 2021 full year revenue of approximately US$66.1 million and adjusted EBITDA of approximately US$8.0 million. Bragg also raised its full-year 2022 revenue and adjusted EBITDA guidance to a Range of US$78-82 million and adjusted EBITDA ranging from US$10.8-12 million, reflecting a year-over-year growth of 21% and 43%, respectively.

 

“The ongoing execution of our iGaming content and platform expansion and new market initiatives are driving Bragg’s consistent operating momentum leading to near- and long-term financial growth,” said Yaniv Spielberg, Chief Strategy Officer for Bragg Gaming. “These factors contributed to stronger than expected financial results in the 2021 fourth quarter and as a result we now expect to exceed our previously provided guidance for full-year 2021 revenue and Adjusted EBITDA.”

 

Bragg expects to complete the acquisition of Spin Games by the end of the first quarter of 2022. As of January 2021, Bragg has released its popular content to gamers in the following regulated iGaming markets: Switzerland, Germany, Greece, Netherlands, United Kingdom, and the Czech Republic.

 

ORYX Gaming, a Bragg Gaming Group company, has recently launched its exclusive iGaming content in the Czech Republic in partnership with the SYNOT group, via its SYNOT INTERACTIVE platform. It marks ORYX’s entry into the Czech Republic and strengthens its presence in Central Europe.

 

For more information about Bragg Gaming Group (NASDAQ:BRAG) (TSX:BRAG), click here.

 

Online Gambing Companies Continue to Expand

 

Penn National Gaming (NASDAQ:PENN) announced on February 3 that its subsidiary theScore Bet has obtained registration as an Internet gaming operator with the Alcohol and Gaming Commission of Ontario (AGCO). theScore Bet was the first prospective operator in Ontario to receive Gaming Labs International certification for Ontario, attesting to the gaming platform’s compliance with the Registrar’s Standards for Internet Gaming, as well as RG Check iGaming accreditation from the Responsible Gaming Council (RGC). Before launching its Internet gaming services on April 4, theScore Bet must meet all remaining regulatory requirements and sign an operating agreement with iGaming Ontario.

 

Scientific Games Corporation (NASDAQ:SGMS), a long-time sports betting provider in international markets, has launched large-scale retail and digital sports betting and lottery operations in Azerbaijan. The national lottery, Azerloterya, launched sports betting in mid-January with technology from Scientific Games under a 10-year agreement to supply exclusive retail and digital lottery instant games, sports, draw games, and an omnichannel lottery game system. Scientific Games has also recently launched sports betting in Turkey and with the Western Canada Lottery Corporation through a joint venture with Demirören.

 

Enthusiast Gaming Holdings Inc (NASDAQ:EGLX) (TSX:EGLX), a media and content platform for gaming and esports fans to connect and engage, announced preliminary unaudited financial results for the three months ended December 31, 2021. Fourth quarter 2021 revenue is expected to be $56.9 million, up 34% year-over-year, while 2021 full-year revenue is expected to come in at $167.4 million, a 130% year-over-year increase. During Q4, Enthusiast Gaming completed League of Legends U.GG community acquisition and development of the U.GG desktop application. The company renewed or engaged business with key partners such as Proctor & Gamble, HBO Max, TikTok, Disney, and Square Enix.

 

Bally’s Corporation (NYSE:BALY), a global casino entertainment company with a growing omnichannel presence of online sports betting and iGaming offerings, has been awarded one of nine licenses to conduct online sports betting in New York State. With New York’s premier professional sports franchises comprised of some of the most prestigious teams in all of sports and a diverse base of dedicated sports fans, this license provides Bally’s with significant opportunities to showcase its best sports betting and increase its player database.

 

Bragg Gaming Group is poised for strong growth in the years to come as online gambling is gaining market share worldwide.

 

Disclaimer:  Microsmallcap.com (MSC) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. FN Media Group (FNM) is a third-party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated with MSC or any company mentioned herein. The commentary, views and opinions expressed in this release by MSC are solely those of MSC and are not shared by and do not reflect in any manner the views or opinions of FNM. Readers of this Article and content agree that they cannot and will not seek to hold liable MSC and FNM for any investment decisions by their readers or subscribers. MSC and FNM and their respective affiliated companies are a news dissemination and financial marketing solutions provider and are NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.

 

The Article and content related to the profiled company represent the personal and subjective views of the Author (MSC), and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author (MSC) has not independently verified or otherwise investigated all such information. None of the Author, MSC, FNM, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer’s filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer’s securities, including, but not limited to, the complete loss of your investment. FNM was not compensated by any public company mentioned herein to disseminate this press release but was compensated twenty five hundred dollars by MSC, a non-affiliated third party to distribute this release on behalf of Bragg Gaming Group

 

FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

 

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and MSC and FNM undertake no obligation to update such statements.

 

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Source: Microsmallcap.com

The post Europe’s Online Gambling Growth Boosts Entire Industry appeared first on Financial News Media.

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