Many British people are stuck at home because of the Coronavirus. Many of them visit online casinos to entertain themselves. What’s more, the number of online casinos has grown a lot. This is definitely positive news for online gambling operators who offer popular games such as Blackjack and Roulette.

Increased customer activity for 888 Holdings Plc

888 Holdings Plc is a well-known gambling operator. The company said that it noticed increased customer activity in its casino and poker operations, which are a major part of its revenue. This is also the case for gambling technology company Playtech Plc.

Reduction of loss
The update of 888 means that gambling companies might reduce the loss caused by the cancellation of sports events, Goodbody analyst Gavin Kelleher said. In 2018 888 the sports betting revenues of 888 were about 15 percent.

Worldwide postponement of sports events

A while ago the largest increase of the share price of 888 took place: 38 percent! However, the share first plunged due to the worldwide postponement of sports events. The share price has fallen 33% in the year to date. This is much less than the 77% drop for bookmaker William Hill Plc, who is more dependent on sports.

Loss despite ‘good momentum’
The price of Gamesys Group Plc, a direct competitor of 888, rose about 32% since the company said it has a ‘good momentum’. But despite positive comments of Playtech, the share has fallen by about 56% in the past month.

Many employees needed
Ivor Jones and Douglas Jack, analysts for Peel Hunt, warned that many employees at the same time are needed to keep Playtech's live casino operation running. The casino tables being streamed to people playing online can be found in a studio.