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The US land-based casino market had begun to mature and the number of obvious new markets and projects was shrinking. Online gambling offered a new source of growth, particularly through the expansion of legal sports betting. That opportunity was quickly reflected in share prices.
The problem is that legalisation has not happened as quickly as expected, while taxes and competition have increased. “Online gaming has been affected by the broader re-rating of growth-oriented internet and software stocks,” says Chad Beynon, managing director and head of US research at Macquarie Capital. “But there has also been a genuine deterioration in expectations for parts of the sector.”
Beynon says sports betting companies have suffered particularly badly because the market is questioning both future earnings and the size of the eventual opportunity. More iGaming-focused companies such as Rush Street Interactive and Super Group have generally performed better operationally, helped by stronger earnings growth and profitability.
What is Apache Way?
Pariplay Strengthens Standing in Spanish Market via Partnership with R. Franco Digital
Presence of Pariplay game content in Spain to be bolstered through partnership pioneering provider
Pariplay Ltd., the No. 1 aggregator and content provider behind innovative products including the Fusion aggregation platform and the Ignite Studio development programme, has today announced it has signed an agreement with a leading global gaming solutions provider, Recreativos Franco Digital (R. Franco Digital). Through the deal, high quality content from Pariplay and its Ignite and Fusion products will be made available to even more operators and their players in the rapidly growing Spanish market, in addition to expanding the reach of R. Franco Digital’s portfolio via the aggregation platform.
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That sends the sprawling Savan Vegas dispute back to court once again, 14 years after it began.
Laos attorney David Branson told Law360 the government has been trying to collect the awards for more than seven years and said the latest ruling had cleared a “path to recovery.”
The post Laos Seeks $5M From US Casino Investors to End 14-Year Dispute appeared first on Casino.org.