Rapid Expansion of Online Casino Gaming Credited to Innovative Technology Platforms

Rapid Expansion of Online Casino Gaming Credited to Innovative Technology Platforms

PR Newswire

NEW YORK, Feb. 12, 2021

FN Media Group Presents Microsmallcap.com Market Commentary

NEW YORK, Feb. 12, 2021 /PRNewswire/ -- Upon the announcement of the death of Las Vegas Sands Corp. (NYSE:LVS) CEO Sheldon Adelson, the casino industry lost its biggest opponent towards online gaming. With Adelson's passing, his company sits at a crossroads, potentially finally making the same serious leap that its peers have made over the last few years—and embracing online gambling once and for all. But as new states, such as Michigan and Virginia, are added to the roll call of jurisdictions that allow online gaming, many brick-and-mortar casinos are looking towards smart technology developers with turnkey solutions to make their transitions, such as Bragg Gaming Group (TSX:BRAG) (OTCQX:BRGGF), International Game Technology PLC (NYSE:IGT), Scientific Games Corp (NASDAQ:SGMS), and GAN Limited (NASDAQ:GAN).

Over the past year, online gaming tech providers Bragg Gaming Group (TSX:BRAG) (OTCQX:BRGGF) have been consistently onboarding casinos from all over the world through their wholly-owned subsidiary Oryx Gaming. So far in 2021, the company expanded its footprints into Germany, the Czech Republic, Slovakia, and most recently in Serbia where the regulated online gambling market has exploded at a CAGR of 82% in recent years, through a partnership with MerkurXtip.

"By partnering with ORYX we are now able to offer our customers a substantial library of top-notch gaming content via a single integration," said Nenad Aleksic, Head of IT at MerkurXtip. "ORYX's gaming content has gained a strong following in Serbia and beyond and we are thrilled to have added it to our online casino and enhance our offering."

Prior to the entry into Serbia, ORYX Gaming notched its second deal with a German online sports betting and casino operator, Betway.

"Seeing the array of premium content from ORYX become available to our customers is the result of hard work and close collaboration," said Paul Adkins, Marketing and Operations Director at Betway. "It's great news for everyone involved and we're sure that it's the start of a relationship that will be a huge success."

Through licenses in multiple jurisdictions, Bragg Gaming Group now has access to several markets, including Belgium, Czech Republic, Denmark, Germany, Ireland, Italy, Malta, Serbia, Slovakia, Spain, and other areas.

Within the majority of ORYX's deals, their partners gain the right to use ORYX's player engagement tools and data services available via ORYX Hub. These player engagement tools include free spins, tournaments, and leaderboards.

"We are looking forward to our cooperation and we are very excited about the games that ORYX provides," said Jiri Klusacek, Head of Sales at EASIT. "By adding the ORYX content to our omni-channel platform we are extending our possibilities and we are able to offer great gaming content to our operators in seven different markets."

In response to its series of new European market partnerships, Bragg Gaming Group successfully graduated to the big board, from the TSX Venture to the Toronto Stock Exchange. Among their other feats was the Q3 2020 reporting of an exceptional revenue growth of 72%.

"We're excited to further raise Bragg's profile as a leader in the B2B global online gaming market with our launch on the TSX," said Richard Carter, Board Chair at Bragg Gaming. "As international regulations continue to evolve and the online gaming market expands, investors and analysts are looking to companies with the cutting-edge technologies and market-leading content that Bragg is known for."

GAN Limited (NASDAQ:GAN) is celebrating a successful Super Bowl, through delivering an all-time record 14.6 million settled bets the day of Super Bowl LV. That success represented a 186% gain over the previous year, securing $3 million patent license revenue.

Prior to the big game, GAN added Seneca Gaming Corporation to its growing list of simulated gaming clients. Seneca is known for operating three casinos in New York on behalf of the Seneca Nation of Indians, including the popular Seneca Niagara Resort & Casino in Niagara Falls.

One big fish that many of the online platform providers will be gunning for a contract with is Las Vegas Sands Corp. (NYSE:LVS). In the aftermath of the loss of CEO Sheldon Adelson, LVS is now rumored to potentially be willing to dip a toe in the online waters, and is looking into "a few opportunities" to pivot into online gambling.

Given that Las Vegas Sands is one of the biggest gambling operations in the world, a shift into online gaming by the casino would instantly make it one of the biggest online players in the game.

Casino games aren't the only online gambling options in need of third-party RGS (remote game server) solutions, though.

International Game Technology PLC (NYSE:IGT) recently gave an update on its partnership with the Kentucky Lottery Corporation, including a four-year contract extension. Through the deal, IGT Playdigital will install its PlayRGS digital game delivery technology, allowing the Lottery to expand its portfolio of Instant Play games with new game features and promotional capabilities.

As of December 2020, Scientific Games Corp (NASDAQ:SGMS) will also be supplying lottery instant games, through its latest generation WAVEtm Retailer Technology for Moroccan group SISAL—expanding the company's reach into the African lottery market.

As the wave for online gaming continues to gain momentum, innovative technology platforms such as the one offered by Bragg Gaming Group look to be in a strong position to ride the wave all the way to the end.

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