Online Gambling Companies Remain Strong despite Faltering UK Economy
28/10/08 15:50 Filed in: General
News
Even in
the face of a suffering economy, UK online gambling
companies, William Hill, Rank Group and
Ladbrokes all managed to
actually rise within the London stock trade. The continued success
of these corporations has lead economic analysts to suggest that
gambling may be one of a small number of businesses able to stay
resilient in such conditions.
The early 1990s were the last major time of economic disparity in Great Britain and even then, before the internet’s ascent to mainstream popularity, gambling industries such as bingo halls, casinos and sports betting outlets continued to keep profits high within their sector. Financial analyst Dresdner Kleinwort commented on gambling’s status as a veritable ‘staple diet’ of many people, regardless of their reduced income. This observation certainly fits a climate wherein almost every business but those associated with gaming have suffered significant profit losses. Comparing last decade’s UK to contemporary times surely seems to offer a reinforcement of the very argument put forward by Kleinwort.
This is good news for those intimately associated with either the online or brick-and-mortar gambling industry. Rank (as well as its Mecca bingo halls and Grosvenor casinos), William Hill and Ladbrokes have all witnessed an increase in their trading worth within the last financial quarter rather than any kind of loss.
The early 1990s were the last major time of economic disparity in Great Britain and even then, before the internet’s ascent to mainstream popularity, gambling industries such as bingo halls, casinos and sports betting outlets continued to keep profits high within their sector. Financial analyst Dresdner Kleinwort commented on gambling’s status as a veritable ‘staple diet’ of many people, regardless of their reduced income. This observation certainly fits a climate wherein almost every business but those associated with gaming have suffered significant profit losses. Comparing last decade’s UK to contemporary times surely seems to offer a reinforcement of the very argument put forward by Kleinwort.
This is good news for those intimately associated with either the online or brick-and-mortar gambling industry. Rank (as well as its Mecca bingo halls and Grosvenor casinos), William Hill and Ladbrokes have all witnessed an increase in their trading worth within the last financial quarter rather than any kind of loss.
