Covid-19: nearly $100bn wiped off FY expectations
H2 Gambling Capital has downgraded its 2020 expectations for global gambling gross win to $375.9bn, nearly $100bn or 20.6% below its pre-outbreak forecast.
Following the further downgrade in Week 14 of H2’s tracking of the cumulative impact of the novel coronavirus (Covid-19) pandemic on the sector, global gambling revenue continues to track below the total for 2012 (see Chart 8).
From a regional perspective, Asia/Oceania is now on track to miss its pre-outbreak projection by the greatest margin - 21.9% - compared to 21% for Europe and 16.6% for North America (Charts 3-5).
While nations and states have begun to plot a course towards reopening their economies, H2 noted that “the gambling sector tends to be towards the back of the queue in many European countries”, with the Dutch government recently announcing Holland Casinos would not be reopening until September at the very earliest.
“There is definitely a risk that slow returns to reopening and increased restrictions on the online gambling sector, at a time when criminals/fraudsters have increased their activity, will lead to players, especially the vulnerable and the higher value, being targeted by illegal operators located both within/outside players’ markets”, added iGB’s principal data partner.
Photo by Martin Sanchez on Unsplash