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Is the Gambling Business Back on Track after Covid-19?

19 august 2022
Author: James Burton
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Restrictive measures during the Covid-19 pandemic significantly affected the welfare of the gambling industry. However, when focusing on Europe, the prognosis is rather positive compared to the same time in 2021.

Gambling business after Covid-19

Countries have learned to cope with the impact of the virus, and the most stringent prohibitions have all but vanished. For many European states, the removal of these restrictions and the switch to the online segment had produced profitable outcomes.

Revenue Statistics around the World

Five regions in Europe have recently reported favourable year-over-year increases in either their Q2 or H1 statistics Nevertheless, the situation in other regions varies significantly.

Lithuania

The country most recently announced a 66% gain in market income for the first half of 2022 to € 89.3 million. Customers returning to brick-and-mortar establishments after the Covid-19 limitations were lifted helped the results, which were released by Lithuania's Gambling Supervisory Authority.

These penalties prevented the opening or operation of:

Land-based profit increased by nearly 1,000% from € 2.8m in 2021 to € 34.7m in 2022.

United Kingdom

June saw positive results for the UK market as well. According to the Gambling Commission, GGY for Q1 (April 2022 to June 2022) was around € 1.42 billion, a gain of almost 1% from Q4 (January 2022 to March 2022).

The UK is a mature region, which major year-over-year shifts, whether good or negative, may no longer be reasonable to anticipate.

Not all companies were able to get sufficient results. 888 stated that the firm's relatively stable revenue growth for the 6 months (ended 30 June 2022) was offset by declines in the state. The 25% fall indicated the execution of more rigorous responsible gaming initiatives.

The brand's financial results in the period principally represent market conditions in the UK, 888 spokesman Itai Pazner continued.

Other Significant European Markets

Denmark reported a year-over-year rise in GGR for the first quarter of 2022.

The Danish Gambling Authority announced that revenues from wagering, online and brick-and-mortar casinos were approximately € 208 million. The statistic was released following the removal of prohibitions in the state.

The licensed businesses in Portugal also revealed a rise in profits, which jumped 17% (€ 146.4 million) compared to the previous year.

France experienced a similar situation, with the ANJ projecting € 10.7 billion in income for 2021 — an increase of 7% from 2020. The organisation observed that the country's gaming business is on the mend thanks to a move to the internet niche and the relaxation of public health regulations. Local online sports betting drove the year-over-year gain in turnover a lot.

United States

The US is making sure it can participate in the entertainment as well since many European countries are making the most of the spotlight while recovering. The AGA reported that Q2 commercial gaming profits are up by 3% from the 4th quarter of 2021, totalling almost € 14.7 billion.

Asian Region

Gambling business in Asia: peculiarities

On the other end of the spectrum, there is Asia, a region that is severely constrained. Due to China's efforts to attain zero Covid, it appears that this area is not «living with the virus.»

Macau, which is nearby, has done the same. Although local conditions are better, the region experienced its biggest Covid-19 breakout since the pandemic started. The strict lockdown measures have inevitably harmed the gaming business.

The DICJ reported that income for July decreased dramatically 95% year-over-year to € 48,6 million, marking the poorest monthly performance since the crisis appeared.

Predictions for the Future

The situation is substantially better when looking back toward Europe. The good news is that the continent is becoming more regulated, and several nations have adopted stricter laws governing safer gambling.

It will be interesting to observe how the aforementioned nations and their neighbours fare in Q3 and H2 2022, and whether or not further regulation will impede their progress. The effects of legislation will be entangled with the prospective reality in which gamers, including those converted to web gambling, may feel secure enough to return to land-based venues.

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