Home Business Insights & Advice Why Gamesys’ stocks are rising amid coronavirus

Why Gamesys’ stocks are rising amid coronavirus

by John Saunders
18th Jun 20 10:52 am

Gamesys Group, the bingo-led casino brand that owns inter casino, costa bingo, and jackpot boy, is one of a few brands showing sharp profit rises during this COVID-19 crisis. In quarter one, the company’s profits increased by 19% compared to the same period in 2019.

That led to a total profit of £155.3 million, a clear reflection of its resilience and growth potential during these uncertain times. Gamesys’ profits within the last three years have also been on an upward tick: 53% share increases.

Should you invest? That’s up to you. But it’s a decision better understood after discovering why Gamesys is performing so well amid the COVID-19 crisis.

Lockdowns leading to more customers

When Boris Johnson announced a regional lockdown earlier this year, it meant millions of people in the UK would have to spend weeks at home. It also meant people had to find unique ways of spending their increased free time.

As it turns out, slots and bingo have created a pastime for thousands of people. Most of these games are cheap and can be played for free through bonuses. So, for interested gamers out to kill a couple of hours without much commitment, they are worth the costs.

On the flip side, online casinos are open 24/7. They welcome all 18+ British citizens cordially and accept deposits as little as £10. That means the entry point is affordable for nearly everyone who wants to try their services.

Engaged players are more involved

Another result of COVID-19 is that engaged gamblers are spending more time and money at casinos than ever before. These players are traditionally more active than casuals. But now that they have increased free time, they are using it to do what they already love.

According to a poll published in the Guardian, 28% of engaged players have increased their betting activities since lockdown began. Another 11% are betting significantly more than they did before the COVID-19 outbreak. Interestingly 41% of all online gamblers had opened one or more gaming accounts.

With that in mind, Gamesys is one of the biggest beneficiaries of the ongoing lockdown. Other winners include eSports, online retailers like Amazon, and digital media houses. Surprisingly, sports betting industries are some of the worst losers despite providing their services online. The reason is simple: they depend on sports actions, and most leagues haven’t resumed.

Increased demand for money making opportunities

Amid Coronavirus, thousands of people have been retrenched or furloughed. But not everyone is taking the loss lying down. There’s an increased demand in interests for online money-making opportunities, especially if they require little to no skills.

Naturally, that means people are trying their luck with casino games. They want to hit jackpots and win vast sums of money. Luckily, Gamesys, through its casinos, has been providing bonuses to help new players get involved without risking much of their money. Find information on what it offers here. Also, learn about its games and payouts.

Many of Gamesys’ new customers are from the UK. But the company has been making efforts to spread throughout Asia lately. And based on its latest earnings reports, a significant portion of the money comes from a solid performance in its Asia-focused casinos.

Lack of sports

Sports bettors with an itch for gambling must find new ways of spending their free time when you think about it. And what better alternative is there than something related to what they do?

Casino games aren’t particularly similar to sports. But they share one important similarity: they are gambling games, which means they offer a chance for the risk-averse to win money. Slots are the most played games at most online casinos.

But people who prefer games related to sports are spending more time on virtual sports. These games offer simulations of football, hockey, or basketball. But they are managed by RNG software, meaning they are purely chance-based.

Card games also offer a compelling way to gamble while using skills and strategies to gain an edge over opponents. However, they favor more experienced players, especially those who can keep off emotions when making decisions.

Mobile gaming

The average person in the UK spends three hours on their mobile devices daily. Naturally, that means there’s an uptick of people using their smartphones to play games. There’s almost an equal percentage of male and female mobile gamers in the UK, especially when it comes to casino gaming.

However, there’s a significant difference when it comes to what games men and women play. The former spends more time on slots and card games while the latter are more dedicated toward bingo.

All the same, the overwhelming addition of smartphones and free time in the UK has been a boon of casino operators such as Gamesys. Nearly everyone who wants a mobile device can get it for £200 or less.

Fortunately, gambling brands have also made it increasingly simple to access their services through smartphones. You can install an app or create an account through Google Chrome or Safari browsers. Then you can use mobile payment apps to fund your account.

Improved casino transparency

There used to be a time when online casinos were synonymous with shady businesses. But the Gambling Commission helped streamline the industry. Now, not only are gaming operators regulated, but they are also required to be transparent.

Transparency means a casino must share its games and bonus terms beforehand. They have to reveal their payment limits and policies, security policies, and everything else that’s of importance to gamblers.

As a result, interested gamers no longer spend their money on casino games blindly. They know what to expect. Better yet, they can trust operators to deliver promised services without fail. Otherwise, they can report these businesses to the UKGC.

Summary

Against all the odds, Gamesys’ recent Q1 profit reports indicate that its share values increased by 19% compared to the same time last year. On the contrary, its steady profit growth since 2017 is still growing despite the COVID-19 crisis. The unusual market surge is due to more people staying home, and avid gamblers are spending more money than ever before.

Please play responsibly. For more information and advice visit www.begambleaware.org

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