March Roundup: Casinos and Developers Confirm New Deals and Predict Continued Growth, even in the time of COVID-19
With so much of the world’s media currently concentrating on the spread of the COVID-19 coronavirus pandemic, and with equally dire warnings being issued every day by key figures in the gambling industry and the wider economy, you’d be forgiven for thinking that no gambling companies were making any investments or expanding during this time of crisis.
But you’d be wrong.
March 2020 has so far been as busy a month as any for new deals, partnerships, and acquisitions. This is a positive sign that many in the market feel this current pandemic, while likely to change a lot in the way our current global system functions, will eventually pass.
And, while COVID-19 can be dangerous and will now inevitably inflict untold suffering and (very sadly) death upon many thousands worldwide—as a society, we will come out on the other side.
Uncertain Times—But Business Goes On
Chief among the bullish statements from some companies this week has been top-dog live casino provider Evolution Gaming.
This comes even after Georgian authorities have this week temporarily closed operations at their live studio in the capital Tbilisi as part of the many lockdown measures being enforced across European nations to combat the spread of this respiratory disease.
Evolution confirmed, however, that it has been working with governments and employees on measures to keep its dozen or so other global studios running as long as possible.
“As we are about to publish this annual report, the world is going through an uncertain time with the Coronavirus spreading throughout the world,” said Evolution CEO Magnus Carlesund as the company published its 2019 report.
“Our drive to adapt and develop as a company will truly be tested this coming year. However, we enter the year with a very strong financial position as well as an underlying growth in demand for our products.”
Carlesund also noted Evolution’s “paranoid sensibilities” that would help keep workers and company finances safe during these troubled times.
Looking Forward
Another live casino provider inking new deals and eyeing up 2020 expansion in an uncertain market is Authentic Gaming. The specialist live roulette developer this week announced a new deal with German betting giant Interwetten.
This deal will give German players the chance to try such innovative live roulette titles as Blaze Roulette, Golden Ball Roulette, and 24/7 Roulette.
Many online casino developers and services will see their products in higher demand over the coming few months. This is because many operators are scrambling (at least temporarily) away from relying on income from widely canceled sports events.
Slots developer Red Tiger was another company to announce a new contract this week, putting pen to paper on a deal with Swedish state-sponsored online casino Svenska Spel.
“We are thrilled to have integrated Red Tiger’s engaging slots and have no doubt that they will make a strong addition to our product offering,” said Vice President of Svenska Spel Jonas Nygren.
Growing live casino developer LiveG24, based on the Isle of Man, also completed a tasty new deal this week when it announced new partnerships with both Leo Vegas and Microgaming.
This will bring LiveG24’s suite of live blackjack, roulette, and baccarat tables to any Microgaming partner casino that wants them, as well as directly to Leo Vegas’ millions of customers in the European market—specifically its recently launched leovegas.it site for Italian players.
Another attraction is LiveG24’s unique Magic Card game, which is a “one of a kind” game unlike any existing live casino product.
“We are proud to further expand our live casino offering to be able to increase the tables available to our customers and become a reference point for live casino in the Italian market,” said a Leo Vegas spokesman.
These deals show that despite the current public health and economic crisis hitting many nations hard, with nearly 400,000 COVID-19 cases now confirmed in over 100 countries, people in all parts of the gambling industry are still confident there will be a strong market after the world recovers from this pandemic.
Keep checking our pages for the latest on the continuing impact of the coronavirus on gambling businesses, workers, and shareholders, plus other related news—and stay safe.
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