Weekly Industry Highlights: MGM, GVC, NatWest, and Circa Impact Numbers

CasinoBeats highlights a range of numbers relevant to the gaming industry this week, revealing the financial impacts of recent developments. GVC Holdings has reported that the anticipated four-week national lockdown in England could cost the FTSE100 company around £37 million. The retail closures in England alone will account for approximately £27 million, while the shutdown of its Eurobet Italia and Ladbrokes BE subsidiaries is expected to result in an additional £10 million loss. Should similar lockdowns be enacted in Wales and Scotland, the cost of a full UK retail closure would spike to £34 million, leading to a total estimated loss of £43 million across UK and European operations. In a stark contrast, MGM Resorts International posted net revenues of $1.1 billion for the three-month period ending September 30, marking a 66 percent decrease compared to the same quarter in 2019. Properties in Las Vegas and Macau were the most adversely affected, remaining only partially operational while facing significant declines in customer traffic due to enforced social distancing. MGM China reported a staggering 94 percent year-on-year drop in revenues to $47 million, while Las Vegas revenues fell by 68 percent from Q3 2019, totaling $481 million. However, CEO Bill Hornbuckle expressed hope, noting MGM's resilience during the pandemic and the ongoing success of its BetMGM joint venture with GVC Holdings. In another development, Las Vegas welcomed its first ground-up resort-casino in 40 years with the official opening of Circa Resort and Casino, spanning 1.25 million square feet and designed for adults only. The property seeks to honor Vegas' 'Golden Era' with a vintage aesthetic and 'old-school hospitality,' while incorporating advanced technology and modern amenities. Developer and CEO Derek Stevens emphasized this milestone as a significant achievement for Las Vegas. Additionally, NatWest has introduced a gambling block feature on debit cards, enabling customers to initiate a 48-hour cooling-off period via their mobile banking app. Transactions attempted during this cooling-off period will be declined, and the block will remain active unless the customer opts to remove it. Anna Hemmings, CEO of GamCare, praised this initiative as an important tool for gambling addiction management, hoping that more financial institutions will adopt similar measures. Finally, Zamba.co, an online gaming brand from Gaming1, has launched in Colombia, becoming the first operator in the region to offer a live casino experience. Colombian players can now access 52 games from Evolution Gaming's catalogue, including favorites like roulette, blackjack, and baccarat. Sylvain Boniver, COO and co-founder of Gaming1, expressed pride in the company's swift adaptation, celebrating this launch as a pioneering step in the Colombian market.