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ANALYSTS GIVE INTERNET GAMBLING A FAVOURABLE REPORT
The respected professional business services and analyst company Ernst and Young had encouraging news for the online gambling industry this week - it could be one of the economic sectors that comes out of the global economic recession stronger and more resilient than ever.
Ernst & Young has tipped online gaming to be one of the sub-sectors of the leisure industry that will come out of the current recession as a possible winner.
In its report "All bets off for recession" Ernst and Young considered the future potential of traditional and mainly land- based gambling, coming to the conclusion that fortunes would be mixed during the coming hard times. The sector was likely to mirror the declining trend in consumer spending, making for troubled times, bearing in mind the liklihood that consumer spend will probably not start to recover until late 2009.
But when it came to internet gambling , E&Y opined that the industry's ability to access the international market would be an important advantage, with the recessionary trend counterbalanced by the fact that the industry could still be said to be in its growth phase.
In addition, a propensity by gamblers to stay at home due to economic hardship, and frugally play small stakes for entertainment would also assist the sector to better survive, whilst the pastime's appeal to the younger generations unburdened by property and share price decreases in personal wealth could also have a beneficial influence.
With online operators continuing to invest and recent results indicating that the sector had so far apparently weathered the credit crisis, Cameron Cartmell, head of hospitality and leisure at Ernst & Young, commented: “The online gaming industry is likely to do better than other gaming sub-sectors as it is not solely reliant on the state of the UK economy, it is still going through a growth phase and with consumers saving money by staying at home I believe it will be a winner.”
For those companies that survive the recession, there will be better opportunities as leaner and fitter organisations well prepared to take advantage of the trend toward liberated markets.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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