Malta-based sports betting companies forecast 40% drop in revenue

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Gaming operators involved in sports betting were expected to suffer the hardest hit from the coronavirus pandemic in a survey published by the Malta Gaming Authority. All major international sports events for 2020 were halted for around three months, with some major appointments, such as Tokyo Olympics and the European Nations Cup, scheduled throughout June were postponed by a year.

According to this survey, such companies, referred to as Type 2 gaming firms, were expected to suffer a loss of around 40% of revenue.

On a wider scale, the Maltese business-to-customer gaming sector was expected to suffer a drop of 12% in expected gaming revenue, with casino-style games partly compensating for the loss from sports-betting. Looking at business-to-business operations, the drop is expected to increase to a heftier 20%.

The impact of the pandemic on investment plans appears to mostly involve the postponement rather than the cancellation of investment. Around 35% of businesses indicated a decision to postpone their investment.

The results published by the MGA make no reference to impact on employment.

In a statement, the MGA said that it will continue following closely the impact of the COVID-19 pandemic and further surveys aimed as assessing other impacts will also be conducted.

Read more via Malta Gaming Authority

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