Italy's gambling faces an abrupt halt due to Corona.
Italy's lockdown because of the coronavirus has severely affected the gaming industry, particularly the retail sector. Playtech (Isle of Man), for instance, had to shut down all Snaitech branches, among others. Additionally, the Italian gaming trade fair, Enada Primavera, got postponed. Here's a summary of the latest developments.
Casinos and Gambling Venues Closed
Italian gaming experts predict a major impact on the retail sector because of the recent Italian government's decision to make the entire country of Italy a lockdown zone due to the coronavirus pandemic. This decision will lead to the closure of most entertainment facilities such as betting shops, amusement arcades, casinos, and bingo halls, along with discotheques and pubs. As per Prime Minister Giuseppe Conte, this nightlife is no longer allowed. The measures will remain in place until at least April 3rd.
Another significant effect is the postponement of all high-priority public events for the gambling industry, such as sporting events like Serie A matches, leading to potential losses in billions.
However, not all hope is lost. According to Alessio Crisantemi from Gioconews.it, gambling activities might not completely disappear. He noted that many gaming machines were situated in tobacco shops, restaurants, and hotels with stricter opening hours from 6 a.m. to 6 p.m. Despite that, operators must ensure a minimum distance of 1 meter between guests at these locations. There's still some confusion on whether these venues can continue to operate or not.
Snaitech Shut Down
Playtech, a well-known European online gaming supplier, has also been hit hard. In 2018, Playtech acquired a significant stake in the Italian betting company Snaitech. The company's CEO Mor Weizer believed this purchase could be an opportunity to venture into the growing Italian gaming market. Unfortunately, all operations are now stalled.
However, Playtech intends to follow all government regulations responsibly. While their online businesses will continue, they can't predict the financial impact on revenue due to retail closures. Moreover, Playtech's subsidiary, TradeTech, experienced strong growth in 2020, which may offset the decline in retail revenues.
Enada Primavera Fair Postponed
Enada Primavera, a significant European trade fair in the gaming sector, was also postponed until mid-April. The event had initially scheduled from March 11th to March 13th in Rimini. This move was made in response to the "current health emergency". The fair attracts over 25,000 attendees, including influential industry figures and fans. It displays the newest gaming technologies. It's unclear whether the virus will be defeated by this new date.
Economic Importance of Gaming Sector
Italy has some of the strictest gambling laws, including a ban on gambling advertisements. Despite that, gambling is a considerable economic factor. It contributes around 4% of Italy's GDP. There are over 40,000 registered gaming machines. In 2018 alone, Italians spent 18.9 billion euros on various gambling activities, with 10.4 billion euros going to the tax authorities, a 0.97% increase from the previous year. The majority of this revenue stemmed from sports betting.
Conclusion
The coronavirus pandemic has heavily impacted the Italian gaming industry, mainly the retail sector, with closures affecting casinos, betting shops, and various related leisure facilities. While different measures may determine the future of select venues, several gambling suppliers are adapting to these changes.
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Source: www.onlinecasinosdeutschland.com
