It’s that time of year where the financial period – either for the previous year or the first quarter – ends for many companies and that includes those in the casino industry. While we’re more concerned with the games than the business side of things here at Mr Gamez, it can often pay to take a look at who’s performing well and what sectors are ripe for growth – it can all add up to a glimpse into the future and what we can expect going forward.
We’ll kick off with one of the biggest industry names around, William Hill, as their report also indicates a knock on effect on their overall business. A two week period of football results being particularly predictable in England was mentioned as one of the reasons for a year on year fall in profits, but the biggest story is the plan to close 109 of their high street shops, something that CEO Ralph Topping identified as a necessity due to the government’s budget decision to increase the duty on in store betting machines. Online revenues contributed 32 percent of the total for the quarter and Topping is optimistic going forward, making particular note of mobile casino gaming, saying: “We are very well placed to take advantage of the World Cup opportunity coming into the second quarter, with an unrivalled football product range, the most downloaded sportsbook app in the UK and a leading mobile gaming offer for cross-sell.” That’s mobile games alongside sports betting for those who don’t speak business!
Closures aside, things are looking pretty stable for William Hill at the moment, but the same cannot be said for IGT who reported a fall in net income of 67 percent for the period. While many of the company’s top games are available online – you can find the best in the IGT section here at Mr Gamez – they remain a primarily land based operator and cited increased competition from smaller developers. One area for celebration was the company’s social casino arm, led by DoubleDown. That part of the business saw revenues rise by 27 percent to $68.6 million and may well drive IGT to shift even more of its focus to online markets – something that will undoubtedly be great news for players like us.
We’ll be keeping an eye on how things progress as more results become available, so stay tuned right here on the blog for the latest details. As noted, if you want to play some of IGT’s best games online, then you’ll find them right here on the site, and can also play for real cash at our featured IGT online casinos, including Bet365, Betsson and Mr Green.