Gambling Growth for the First 6 Months of 2020
Sun Aug 09 2020

Gambling Growth for the First 6 Months of 2020

Some companies in the gambling industry have enjoyed growth over the first six months of 2020, although the success has been reaped at online casinos the most. Other vendors may have struggled in light of global events and business limitations, but it is certainly not all doom and gloom.

GVC Holdings is next in line to receive praise from Deutsche Bank, with the sell-side research business suggesting GVC’s pending financial update will be good news for shareholders and those involved with GVC.

GVC’s stock price appears to be rising in line with successful online casino ventures. Their flagship online casino, PartyCasino , continues to reap rewards within the UK and North American market. In contrast, its other bookmakers, such as Ladbrokes Coral also continue to perform well despite recent challenges.

Due to lockdown closures, glum profit warnings were expected on the horizon, but it may be GVC’s ability to plan ahead and their thriving online casino market that has kept the cogs turning and share prices high. What do the analysts say?

Almost $400 million Turnover in the First Six Months?

Simon Davies from Deutsche Bank works as one of their top analysts and has forecasted that GVC has generated around $384.5 million during the first half of a strange 2020. The exact successes of GVC will become available soon when they publicly release their figures.

It could be that Ladbrokes and Coral – also owned by GVC – performed better in the second quarter of the year and made up on lost ground in the first. The Premier League restart and a new appreciation for eSports betting markets may have also paved the way to some stability. It would mean that these UK bookmakers are joining the ranks of rivals like William Hill in having a stellar performance despite the troubled waters.

Davies specifically pinpointed the online casino market and GVC’s online operators as picking up the slack in other aspects of the gambling industry. Thankfully, GVC was already well oiled when it came to providing online games and remote gambling services.

He went on to suggests that some sports bettors will have turned to safe online casino games to fill the void and take what they can to enjoy gambling over recent months. Casinos might have even retained new players that would have never started playing slots or poker if sports betting was still available.

Almost $900 Million for 2020 Predicted

The bottom line? Without renowned online casino games, GVC could have been in trouble, and their share price could have taken a huge hit.

Conservative estimates suggest that GVC will earn just over $800 million in the whole of 2020, but Davies has indicated that figure could be closer to $900 million – and keep their share prices high.

Nick

Nick

Nick Jason is our Europe based Correspondent. He covers news related to Stock Market Commodities & Currencies. He currently lives in London.

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