The EGBA (European Gaming and Betting Association) declared that the organization anticipated aggregated revenues of the European gambling industry for this year could drop by approximately 23%, which might continue year-on-year to nearly 75.9 billion euros, equivalent to 92.8 billion USD more likely because of the impact of novel COVID-19 pandemic.
The trading team utilized a press release on Monday to make sure and clarify that a study, which they conducted in the partnership with the H2 Gambling Capital conversely predicted that those operators in 27 different nations of the EU should notice the combined the revenues of iGaming, which could arise by 7% year-on-year, equivalent to roughly 32.1 billion USD or 26.3 billion euros.
What about the solid savior?
The EGBA indicated that most of the nations in Europe gave the order to the land-based gambling and casino industries to shut down for a particular period in 2020, which is destined to notice a sharp decline in the gambling revenues for a minimum of 33%, equivalent to $60.7 billion. But the organization reported that the iGaming is anticipated to control a huge portion of that deterioration by enhancing at around 7% per year.
What about the considerable contribution?
Maarten Haijer, the Secretary-General for the EGBA, utilized the press release to relate furthermore that the membership of his organization, which included Entain and William Hill, Kindred Group, and a few other European giants, were predicted to notice their combined online gaming revenues for the year 2020, hitting a minimum of 6.8 billion USD. He thanked the customer pool that featured the area of nearly 16 million people. Additionally, he also pronounced that those firms invested about 415.7 million USD into the local sports and 284.8 million USD in the streaming rights.
Haijer also said that like many other sectors, the gambling one had also received a hit from the outbreak of the coronavirus, but the trend seemed to grow online and continued.