UKGC reports June has the lowest GGY result since November 2020
UKGC has released June’s gross gambling yield (GGY) numbers, showing the lowest result since November 2020.
UKGC Releases Its Market Update
The UK Gambling Commission (UKGC) has released its latest market update, revealing that the gambling industry generated a combined gross gambling yield (GGY) during June of $686 million — the lowest result since November 2020. However, the sector registered an increase in player activity during the Euro 2020 championships.
Double-digit GGY declines were recorded on all online verticals except sports wagering, which recorded a 1% month-on-month increase to $334.5 million. Despite Euro 2020 sports betting activity, it didn’t match its GGY peak during the lockdown from January to April.
The total gambling handle (bets-per-vertical) decreased to a six-month low of $8.4 billion. Online slots and casinos registered 10% and 8% month-on-month decreases.
In February, the UKGC released its GGY results for December 2020, showing an increase of 30.5% to $847.3 million primarily due to real-event betting turnover.
UK’s Gambling Industry Entered a New Phase with Eased Measures
In June, the UK government relaxed leisure and hospitality restrictions. Land-based gaming facilities like casinos, bingo halls and arcades opened their doors again on June 17.
Players’ numbers rose by 4% to 11.3 million, primarily focused on the Euro 2020 markets. Sports betting got a 9% month-on-month increase in active player numbers, to 5.6 million, but it didn’t match sports betting activity in April and May, which saw their peak of over 6 million players for the Cheltenham Festival and Grand National racing events.
The UKGC stated that it recognizes the new phase the country is entering as it eases lockdown measures. The commission will still monitor how operators and consumers are affected by the circumstances. It also stated that many people feel vulnerable due to the pandemic, and they face financial uncertainty.
UKGC Suspended Nektan Limited’s License in April
In April, UKGC suspended Nektan (Gibraltar) Limited, a giant B2C company operating mobile gaming sites. The company had a license to operate mobile bingo and casino like Jackpot Mobile Casino and Cloud Casino.
According to the UKGC, the developer wasn’t consistent with its licensing objectives and breached its licensing conditions.
Eva is a PR specialist and communications expert with ten years of experience in campaign organizing and creative writing. She is also a published author of fictional stories. Eva recently developed an interest in economics and the gaming industry after discovering the inspirational story of Molly Bloom.
