NEW YORK, Feb. 24, 2021 /PRNewswire/ — The gaming industry has come a long way over the past couple of decades, fueled by new technological advancements like ARVR, rising smartphone adoption, as well as changing gamer preferences. The rise of online gaming has been especially interesting to watch from an investor perspective as it has been one of the major driving forces in the industry’s exponential growth. In addition to this, gradual changes in regulations that have allowed online gambling to become legal in some US states have been instrumental in bolstering the industry’s future prospects. With Google now increasing its support for online gaming, companies like 888 Holdings (OTCPK: EIHDF), Penn National Gaming (NASDAQ:PENN), Rush Street Interactive (NYSE: RSI), DraftKings Inc (NASDAQ: DKNG), and Bragg Gaming (TSX:BRAG) (OTCQX:BRGGF) seem extremely well positioned to benefit from this move.
Google Allows Online Gambling Apps Back into the Play Store
Google recently announced that it would be making changes to its Play Store policies that would allow online gambing and betting apps in the US and 15 other countries by March 1, 2021. Online casino games, lotteries, sports betting, and daily fantasy sports are all included in the new policy, and since Bragg Gaming (TSX:BRAG) (OTC:BRGGF) offers all these services in addition to a turnkey mobile and online i-Gaming platform, Google’s policy change ties in well with its short-term plans of expanding throughout North America.
With industry estimates projecting that at least $20 billion has been wagered since the United States Supreme Court allowed states to legalize sports betting back in 2018, and that 80% of bets are being placed online, it’s clear that traditional wagering has been disrupted and early movers have already began carving up their share of this lucrative market.
Bragg Gaming hasn’t been left behind and is currently in the middle of aggressive expansion plans within both the US and Europe. This has resulted in a couple of notable agreements and partnerships, such as the one with sports betting solutions provider Kambi Group. The two agreed to a multi-channel deal to supply sportsbook technology to three New York casinos operated by Seneca Gaming Corporation.
Back in December, Bragg expanded its footprint in Germany after partnering with StarGames and signing a multi-jurisdiction distribution deal with Nordic-based international operator Paf to provide its exclusive RGS content.
Partnerships Spur Online Gaming Adoption
888 Holdings (OTC:EIHDF) initially launched in New Jersey in partnership with Kambi, its sportsbook provider across global regulated markets to offer customers a range of sports markets to bet on across desktop, mobile, and tablet devices. According to the company, the launch would pave the way for expansion into other states with legalized online gambling while setting the stage for further expansion as regulations changed. Recently, the company cemented its position as the premier online poker platform after it agreed to a multi-year extension of its exclusive B2B poker partnership with Caesars Interactive Entertainment which will see it continue to power the World Series of Poker (“WSOP”) brand’s online poker rooms.
Penn National Gaming (NASDAQ:PENN) has also been making significant progress in online gaming thanks to its most recent acquisition of Barstool Sports. With this acquisition, the company gained access to Barstool’s 66 million unique visitors a month with the perfect age demographic to fuel new customer acquisitions. And the strategy is working. Among the highlights of the company’s recent fourth quarter earnings were the strong demand for the Barstool Sportsbook mobile app experienced in Michigan after being introduced last month.
Rush Street Interactive (NYSE:RSI), which operates online casino and sports betting gaming companies in the US was the first gaming company to launch a regulated online gaming site in Pennsylvania. The company attracted a bit of attention after it partnered with Pariplay Ltd, part of The Aspire Global Group, due to the fact that the partnership would make it the first online casino operator in the country to offer the group’s assortment of high-quality online casino games on its platform. The company boasts of being one of the fastest growing i-gaming platforms and will now operate in nine states after recently launching its flagship sportsbook betrivers.com in Virginia.
DraftKings Inc. (NASDAQ:DKNG) is one of the top names in sports betting and is winning big with its focus on sports bettors. Thanks to the rapid shift to online gaming, the company expects that this will be a remarkable year, given the record number of bets that were expected for the Super Bowl. In a recent survey, DraftKings found that 82% of fans were planning on placing a legal wager this year on the Super Bowl.
With roughly 5 million players expected to place their bets online or on a mobile platform, representing a 19% increase from last year, innovative gaming and technology companies like Bragg Gaming couldn’t be better placed to capitalize on this opportunity.
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.
FN Media Group, LLC