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Highlights
- The number of over-65 people who gambled online at least once a month rose by 624,377 since the onset of the pandemic due to closed betting shops and limited alternate options.
- The percentage of over-65 aged online gamblers increased to 13.5 per cent in the year-to-September 2021, from 8.7 per cent in the year-to-September 2019.
The number of people gambling online at least once in a month and of age over 65 years has seen a substantial rise. Around 624,377 more gamblers were reported since the onset of the pandemic, according to the UK’s psychiatrist organisation, the Royal College of Psychiatrists (RCP).
The rise came as the pandemic led to the closing of betting shops and limited options to do other activities while out and about.
As per the RCP, which analysed data by the UK’s Gambling Commission, the percentage of online gamblers, who were aged over 65, increased to 13.5 per cent in the year-to-September 2021.
This was a sharp increase from the pre-pandemic levels of 8.7 per cent in the year-to-September 2019.
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Moreover, this rise in the older population engaging in online gambling came amidst an increase in the overall increase in the number of online gamblers, betting at least once a month, during the same period.
Let us explore the investment prospects of these 2 FTSE listed stocks in the casino and gambling sub-sector and see how they reacted to the development:
- Flutter Entertainment PLC (LON: FLTR)
Flutter Entertainment is an FTSE 100 index listed group that is involved in sports betting, gaming and entertainment space.
An online bingo operator, Tombola was the recent acquisition of the group for an enterprise value of £402 million. The acquisition is expected to help in Flutter’s diversification of product offerings, boost its presence in its core market in the UK and more.
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Flutter Entertainment’s shares were higher by 2.36 per cent, at GBX 11,270.00 on 21 December at the time of market close. The group has a market capitalisation of £19,327.53 million as of Tuesday
- 888 Holdings PLC (LON: 888)
888 Holdings possesses various gambling brands and websites. The company recently agreed to the sale of its bingo businesses to Saphalata Holdings Ltd for a total consideration of US$ 50 million.
The transaction is on a cash-free and debt-free basis and also includes a potential earnout of up to US$4 million.
Image source: EODHD/Others
888 Holdings’ shares were higher by 4.23 per cent, at GBX 296.00 on 21 December at the time of market close. It has given a return of 4.41 per cent in the last one year.
The group has a market capitalisation of £1,058.64 million as of Tuesday.
