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Mobile Gambling Could Be 2021's Biggest Online Gaming Trend


News provided by

Microsmallcap.com

05 Jan, 2021, 13:45 GMT

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- FN Media Group Presents Microsmallcap.com Market Commentary

NEW YORK, Jan. 5, 2021 /PRNewswire/ -- The online gaming industry has completely taken off in the last few years and is accelerating faster than ever in 2020 due to the ongoing health crisis. With casinos shutting their doors for months on end and major sports postponing their seasons, online gambling has become a popular alternative among gamblers across the globe. Favorable regulatory development has also added to the online gambling industry's appeal, with six states voting in favor of online gaming legalization during the US election. Moving forward into 2021, the market is only expected to grow, creating an exciting opportunity for mobile gambling companies like 888 Holdings (OTCPK: EIHDF), Penn National Gaming (NASDAQ: PENN), International Game Technology PLC (NYSE: IGT), and Bragg Gaming Group (TSX-V: BRAG) (OTCQX: BRGGF).

Online gambling revenue is expected to account for 20% of gambling revenue in 2020 and will likely take over a larger segment of the market as more US states embrace online gambling. By 2023, a projected 37 states will have legal sports betting, which stands to benefit companies looking to expand into new markets, such as Bragg Gaming Group. The company has already moved into several new European markets this year and is continuing to suss out new opportunities.

Bragg Gaming Group Expands Its Reach

What sets Bragg Gaming Group apart from other companies looking to dominate the massive mobile gambling market is that it specializes in providing turnkey B2B online gaming solutions to online casino operators. Over the last two years, the company has tripled its customer base and added several prominent names to its roster, including Seneca Resorts & Casinos, Kaizen Gaming, 888 Casino, SBTech, and soft2bet. Bragg has also continued to grow its revenue throughout 2020, posting a 44% increase in its Q1 2020 revenue and an impressive 107% increase in revenue in the second quarter.

On November 23, Bragg Gaming Group announced its third quarter results, achieving 72% revenue growth year-over-year and generating Adjusted EBITDA of C$2.8 million in the quarter, as compared to C$300,000 for the same period in the prior year. Adjusted EBITDA margins also significantly increased to 15.7%, up from 2.6% in Q3 2019, due to improved cost control and higher scale.

Moving into 2021, Bragg Gaming Group is looking to seize this opportunity with fast growth by strategically expanding into new markets as they open up legally to online casinos. On December 7, its subsidiary ORYX Gaming announced a multi-jurisdictional distribution deal with international operator Paf to provide its exclusive RGS content across several regulated markets and brands. As per the agreement, ORYX's content will be made available on Paf's online casinos in Estonia, Sweden, Spain, Latvia, and Finland. The news came just one week after Bragg announced its entrance into the Swiss market after signing a content deal with leading operator mycasino.ch by Grand Casino Luzern.

Online Gambling Companies Grow Presence in Legal US States

International online gambling platform 888 Holdings (OTC:EIHDF) is another company that has been expanding its reach. On December 2, the company announced that it will be expanding its  sports betting services into Indiana, Colorado, and Iowa through various partnerships. Iowa legalized sports betting on professional sports in August 2019. Within the first year, Iowans wagered over $400 million, producing approximately $30 million in revenue for Iowa casinos.

American casino and racetrack operator Penn National Gaming (NASDAQ:PENN) is another company looking to stake a claim in the US online gambling market. The company bought digital media company Barstool Sports in January for $450 million to gain entrance into the lucrative online betting market. In September, Penn National Gaming announced a soft launch of its new Barstool Sportsbook mobile app in Pennsylvania; then in November, the company announced the opening of its first retail-branded Barstool Sportsbook at Ameristar Casino Resort Spa Black Hawk.

International Game Technology PLC (NYSE:IGT) has also been growing its stake in the US gaming market this year. On November 23, the company announced a multi-year agreement with Maverick Gaming. The deal will see IGT's leading PlaySports platform power retail sports betting at Maverick's three Colorado-based casinos, as well as interactive sports betting throughout Colorado through Play Maverick Sports.

With more and more states and countries around the world moving towards online gambling legalization, leading online gaming companies like Bragg Gaming Group will likely continue to expand their reach and capture the growing market.

Disclaimer:  Microsmallcap.com (MSC) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. FN Media Group (FNM) is a third-party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated with MSC or any company mentioned herein. The commentary, views and opinions expressed in this release by MSC are solely those of MSC and are not shared by and do not reflect in any manner the views or opinions of FNM. Readers of this Article and content agree that they cannot and will not seek to hold liable MSC and FNM for any investment decisions by their readers or subscribers. MSC and FNM and their respective affiliated companies are a news dissemination and financial marketing solutions provider and are NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.

The Article and content related to the profiled company represent the personal and subjective views of the Author (MSC), and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author (MSC) has not independently verified or otherwise investigated all such information. None of the Author, MSC, FNM, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer's filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer's securities, including, but not limited to, the complete loss of your investment. FNM was not compensated by any public company mentioned herein to disseminate this press release but was compensated twenty five hundred dollars by MSC, a non-affiliated third party to distribute this release on behalf of Bragg Gaming Group

FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and MSC and FNM undertake no obligation to update such statements.

Media Contact:

 FN Media Group, LLC 
 info@financialnewsmedia.com 
 +1(561)325-8757

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