Good morning. Once a relatively niche part of the video gaming industry, professional esports has grown significantly in recent years. Unsurprisingly, betting on esports has also grown in parallel with viewers, and is an increasingly important product in the gambling business. Our Deep Dive today features Harold Purbrick of Purbrick & Associates Ltd., a risk management consulting firm. He gives a run down of the latest trends in esports and esports betting.
What you need to know
- Suncity Group Holdings said it expects to return to profit in 1H21 due to one-time gains, though revenue has dropped by about 60% as Covid drags on.
- Summit Ascent posted a 35% gain in 1H21 revenue as it pivoted its business to focus on the domestic Russian market to offset the impact of Covid.
- Macau’s Big Six saw large price gains on the stock exchange, after the announcement that border entry requirements from Guangdong would be eased.
- Kangwon Land’s license has been extended by 20 years, but in return it will need to contribute more to a fund designed to boost the regional economy.
- SkyCity saw its normalized profit and revenue gain in the 2021 financial year, due mainly to property revenue gains and its online business.
On the radar
- Bank of China opens a Macau subsidiary with $1.62 billion in capital.
- NZ’s lockdown prompted a 65% increase in spend on betting products.
- Macau retail sales rebounded in 2Q21, with strong spend on luxury goods.
What the papers say
- Lawyer says former IPI chair wilfully disobeyed court order.
- Judge urges e-gaming operators, government to seek compromise.
- Berjaya CEO says the company is now the largest hotel operator in Iceland.
- EvenBet is targeting the Asian market with SBOBET sportsbook integration.
Esports continue to record strong growth and while the mobile sector is gaining momentum in terms of number of viewers, it’s still the more traditional forms that dominate when it comes to betting revenue. Harold Purbrick, of Purbrick & Associates, examines the growth of esports betting, which has become an increasingly important product in the gambling business. Most estimates place total esports betting revenue in 2020 at around $10-15 billion.