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Bloomberg says Bingo is Booming

The Bloomberg business news service had encouraging news for online bingo operators this week, reporting that giant, publicly listed gambling companies William Hill, PartyGaming and 888 Holdings expect sales from Internet bingo to increase in Europe.
 
Revenue from online bingo will rise more than 20 percent both this year and next, totaling about $1.3 billion by the end of 2009 and $1.6 billion in 2010, the research company H2 Gambling Capital, confirmed.
 
The online version of bingo has proven more resilient than other kinds of gaming as the worst recession since World War II restrains consumer spending, H2 director Simon Holliday told Bloomberg, explaining that bingo is “the least mature” area of Internet gambling. 

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Online bingo is in such an early growth phase that any recessionary impacts are outweighed by its newness,” Holliday said. “This is often supply-driven demand. It relates to availability and how heavily things are marketed.”
 
A William Hill spokesman said net revenue for online bingo and “skill” games like backgammon rose 50 percent in the first half of this (2009) year. The London-based company, which will soon be relocating its online operations to Gibraltar, expects bingo gross sales, which include players’ winnings, to grow 50 percent in 2010 from GBP150 million this year, spokesman David Hood said.
 
Ladbrokes reported a 30 percent increase in online bingo revenue but declined to comment on its revenue forecasts for Internet bingo.
 
Gibraltar-based 888, expects to generate close to $100 million in annual revenue from bingo “in a few years,” up from about $40 million today, CEO Gigi Levy said earlier this (August) month.
 
“Online bingo should not be smaller than online poker” in five years, Levy said. He predicted “about 50 to 100 percent a year growth” for bingo in countries like Italy and Spain as the game becomes more popular.
 
Global revenue from online poker, less players’ winnings, will probably reach $3.9 billion this year compared with $3.5 billion in 2008, according to figures from Isle of Man-based Global Betting and Gaming Consultants.
 
Meanwhile, live U.K. bingo club revenues will probably fall 17 percent to GBP 2 billion this year, hurt by the economic slump, an indoor smoking ban, and a tax increase introduced in April, according to a study by consultants Mintel International Group Ltd. published in April this year.
 
Bloomberg observes that the growth of online bingo has spurred expansion and consolidation in the gaming industry.
 
In July, PartyGaming acquired bingo provider Cashcade for over GBP 95.9 million. Time Warner Inc.’s AOL UK and Microsoft Corp.’s MSN UK have also launched online bingo sites in the past year.
 
“They’re all moving heavily into online bingo," Wyn Ellis, an analyst at Numis Securities Ltd. in London, told the news agency. “It really has been an area of very significant growth, particularly in the U.K.”
 
Female players are a major factor in the continued expansion of online bingo, with a growing demographic of female, 25 to 45-year-old players.
 
About 70 percent of registrants on Cashcade’s large U.K. sites are females with the most aged between 25 and 45, Simon Collins, chief operating officer for PartyGaming’s Cashcade bingo division, said.
 
The reach of online bingo partly depends on “the breakdown of broadband internet usage,” which is higher among younger players, said Greg Johnson, an analyst at Shore Capital Group plc in Liverpool.



Gambling News :

Live Dealer Now At Slotocash - Live Dealer can be found in the left navigation menu under 'Live Dealer' when you, the player is logged in to instant play.

Advantages of online slots over slot machines - The rise of online casinos means that players no longer have to leave their own house to play casino games.

Betradar Launches US Sports Betting Solutions - With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

Final 12 For MPNPT Morocco - Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).

MPNPT Morocco Updates - Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.

MPN Poker Tour Morocco Day 1A - The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.

2018 MPN Poker Classic - The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.

PDC and Sportradar Renew Deal - Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data

Poker Yaar Joins MPN - Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.

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