Vegas Goes All In as Online Gambling Soars
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Online gambling is booming. Playgon Games Inc. (TSX.V: DEAL) (OTCQB: PLGNF) is one of the leading players in the space. Bragg Gaming Group Inc., DraftKings Inc, Penn National Gaming Inc (NASDAQ: PENN), and Wynn Resorts Limited (Nasdaq: WYNN) are also interested in this market. Online gambling revenue worldwide is forecast to reach $525 billion in 2023.
Playgon's live-dealer technology went live in May 2021. It has already onboarded 30 operators and processed more than $54 million in bets by October. Playgon has raised $10.5 million for growth and is preparing to enter the coveted U.S. online betting market.
Online gambling revenue is expected to reach $92.9 billion in 2023. Mobile online gambling revenues will grow from $24.8 billion to $42.5 billion. Since the federal government legalized online betting in 2018, more than 30 states have abandoned moribund laws blocking online gaming. According to MGM, the total addressable North American market will reach $27. 5 billion per year.
Playgon Games Inc. is a new company that offers innovative live dealer games for mobile. It's a Software-as-a-Service (SaaS) company. Its products include Blackjack, Baccarat, Tiger Bonus Boccarat and Roulette. Playgon is capturing the attention of online operators, casinos, sportsbooks and big database companies. The company's technology allows for portrait mode only play. There are also realistic graphics and live streamed dealers. They are built on cloud-based technology for robustness, scalability and high-speed play, and they are available for both Android and iOS devices.
Playgon is a leading online gaming company. It has gone live with Bally's Solid Gaming. Playgon has raised $10.5 million in a private placement to expand its business. The company is applying for a live-dealer license in New Jersey, Pennsylvania and Michigan. The U.S. is regulating since 2018 for online gambling. There are 400 casino hotels and 465 non-hotel casinos in the U.,S., which is estimated to be worth $27. 5 billion per year.
DraftKings Inc. launched its mobile sportsbook in Louisiana in January. Bragg Gaming Group Inc., which owns Brag, launched iGaming content in the Czech Republic. Wynn Resorts Limited's online gambling offering is WynnnBET. Penn National Gaming Inc.'s online gaming arm offers Penn Interactive. It operates the mobile and desktop apps mychoicecasino.com, Viva Slots and HollywoodRaces. com. It's also the sixth state where the app has launched in less than nine months. The app is available for download anywhere in Tennessee on Apple and Android devices.
