Gaming Industry Supercharged as More US States Look to Legalize Online Betting

FinancialNewsMedia.com News Alert:

FN Media Group Presents Microsmallcap.com Market Commentary

New York, NY – February 19, 2021 – While traditional casinos took a major hit in 2020, the world health crisis seems to have bolstered the online gambling market. In fact, experts are estimating the online gambling market could be worth $127.3 billion by 2027. However, the health crisis was not the only reason behind this market acceleration online. The updated American legal frameworks are also responsible for the upsurge in the online gaming industry. In May 2018, the US Supreme Court made the decision that sports gambling would not be considered illegal. Since then, American states have been deciding on their own whether they would say ‘yes’ to online betting. With more than a dozen states joining in on the online gambling bandwagon recently, there have been radical changes to the online betting platforms already in existence. Companies like Bragg Gaming Group (TSX:BRAG) (OTCQX:BRGGF), Wynn Resorts (NASDAQ:WYNN), Flutter Entertainment (OTCPK:PDYPF), and Las Vegas Sands (NYSE:LVS) are working fast to use these opening legal frameworks to their advantage.

Bragg Gaming Group (TSX:BRAG) (OTCQX:BRGGF) is an innovative B2B online gaming solution provider that offers turnkey solutions for casino, sportsbook, and lottery operations. Bragg recently voiced its support of Google allowing users to download online gaming apps in 15+ countries, including the US, as of March 1, 2021. Included in this will be apps for online casino games, lotteries, sports betting, and daily fantasy sports, placing Bragg in a solid position to benefit from this latest move by Google thanks to its ORYX Gaming platform, which deals with i-gaming, casino content, and sportsbook operations.

“Google’s support of the online gaming industry is an exciting development for players everywhere,” states Adam Arviv. “Access to gaming is opening up around the world and Google is just one of the many organizations and jurisdictions that are evolving to support increased access. This will also assist in the gaming industry’s goal of ensuring a safe, regulated market for today’s players.”

In the company’s corporate update, Bragg Gaming CEO Adam Arviv states, “We’re now focused on growing in two vital areas – quickly building share in the surging U.S. B2B gaming market, while also leveraging our significant success in European and Latin American markets by diversifying our offering in our key jurisdictions.”

On the US side of things, Bragg Gaming announced a major US deal with Seneca Gaming, in partnership with Kambi Group, to provide casino services and player account management (PAM) to Seneca’s three casinos via Bragg’s ORYX Gaming. This deal marked Bragg’s first major entry into the growing US gaming market.

In the European market, Bragg, through ORYX, extended its footprint in Germany via a new partnership with online casino StarGames. ORYX will be providing the content for StarGames entry into the German market.

With the many deals it has been signing lately, Bragg Gaming has already seen rapid growth in its revenue, achieving a 72% revenue growth year-over-year, according to its Q3 results. Plus, with Bragg’s graduation to the Toronto Stock Exchange in January 2021, there is great anticipation for the company’s successful growth in the coming years and Bragg continues to work towards its goal of becoming a leading iGaming platform in the gaming industry.

Bragg board member, Paul Godfrey, described the company as a “prime example” of what investors are looking for in terms of technologies and expertise as the global online gaming industry continues its expansion, thanks to the loosening of restrictions on regulations.

Loosening Restrictions Give Opportunities to Wide Range of Betting Companies

Wynn Resorts (NASDAQ:WYNN) has been upscaling its operations as more people in different states are using its online gaming service from home. Last month, Wynn Resorts expanded its online gaming services from two states to seven after WynnBET established a partnership with Iowa’s local casino, Elite Casino Resorts. WynnBET is Wynn Resorts’ online casino and sports betting app. As of February 2021, WynnBET has launched in three US states, including Colorado and Michigan. With the COVID-19 pandemic shutting down casinos for months on end, Wynn Resorts was starting to take a hit. Hence the entry into digital sports betting, as other casinos adapt to the unexpected changes as well.

Flutter Entertainment (OTC:PDYPF), a well known establishment in online betting and gaming, operates websites such as FanDuel, Betfair, Poker Stars, and Sky Betting. In November of last year, Flutter was producing strong financial results despite the global pandemic shaking up other businesses. The biggest setback for Flutter was the cancelation of sporting events, which left their customers with nothing to bet on. However, Flutter saw a 165% increase in their online casino gaming revenue, which stabilized their overall revenue in 2020.

Las Vegas Sands (NYSE:LVS) is the most recent company to consider joining the online gaming industry, possibly in part because of the changing legal outlook this industry is undergoing. With the founder’s recent passing, Las Vegas Sands may join the gaming industry online a lot sooner than it anticipated, despite the founder being adamant it remain a traditional brick and mortar casino. Current CEO Rob Goldstein has shared that there have been conversations with online gambling software providers as Las Vegas Sands gears up to enter the online market.

The last 12 months have witnessed positive movement towards the loosening of restrictions for the online gambling industry, and for companies like Bragg Gaming Group, these tailwinds seem to all be pointing towards an even more optimistic future for this 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

[email protected]

+1(561)325-8757

Source: Microsmallcap.com