UK gaming sector prepares for pessimistic Q4 results

Lea Hogg 1 year ago
UK gaming sector prepares for pessimistic Q4 results

A negative impact in trading is expected to be reported by UK gaming operators for Quarter 4. Moreover the long awaited white paper of the 2005 Gambling Act for a regulatory review with stricter affordability checks for players is due to go public some time in February.  As a result of this, it is rumored that horseracing industry claim that the sport may lose as much as £60m a year due to the added player protection measures that will be included in the Gambling Act. 

City Bet Club

City Bet Club reported that UK gaming operators made early revenue gains during the World Cup in Qatar. However this had a negative impact as customers did not return to spend their winnings at a later stage of the tournament. Overall turnover for the World Cup tournament is reported to have taken a downturn when compared to the 2018 World Cup in Russia.  

Co-founder of City Bet Club, David Brown said, “I’ve been in the industry since 1976, and with 47 years in the game, this is by far the most pessimistic outlook for the health of the UK betting market that I’ve seen.” 

Kindred

Kindred’s update to investors stated that its Q4 performance had fallen short of expectations resulting in a 25 percent drop in football league fixtures and a decline in overall turnover results.

Brown commented “Traditionally a major football tournament and robust Christmas period, with a full program of racing, would normally put the big brands in very positive territory. Currently – the silence says it all, and we’re yet to see comparisons of like-for-like turnover to the 2018 World Cup, which may infer all is not well.”

Arena Racing Company

Arena Racing Company forecasts a negative impact in UK digital betting turnover of £800 million with £40 million in income lost from bookmakers.

Bet365

Bet365’s last financial update showed a decline of 88 percent  in revenue due to overseas investment.

News – SiGMA

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