On Thursday 9 May, Susan Breen, Head of the Betting and Gaming Group, took part in a panel on M&A activity in the betting and gaming sector at KPMG's 2019 Gibraltar eSummit. The eSummit brings together key players and service providers to discuss the global gaming market place and Gibraltar's role as a leading jurisdiction. As always, the event was extremely well attended by operators and other industry participants, and benefits greatly from the support of Gibraltar's Government and industry Regulator.
Susan's panel, chaired by Stephen Little (Goldman Sachs), comprised Nigel Hinchliffe (KPMG), Steven Caetano (ISOLAS) and David McLeish (Wiggin), who discussed a wide range of topics, including:
- the competitive landscape in the UK and its likely impact on market participants;
- the prospect of further M&A and joint-ventures between US and non-US operators, and whether The Stars Group digital media deal with Fox Corp signifies the acceptance of gambling into the mainstream in the US; and
- possibilities for geographic diversification in new markets, particularly in South America but also Africa, along with the maturation of markets across Europe.
Tom Grogan, Co-Lead of the Blockchain Group, also gave a presentation on the possible application of emerging technologies such as blockchain in the betting and gaming sector, particularly in respect of customer on-boarding procedures. Further details of Tom's talk can be found here.
When polled, over 70% of eSummit delegates felt positive about the future of the betting and gaming sector. There were a number of key themes which emerged, including the need for collaboration between operators, clear and effective dialogue between operators and regulators, and the important role which a regulator can play in innovation and support for the sector even whilst maintaining robust regulatory oversight.
We were delighted to catch-up with many of our clients and friends of the firm in Gibraltar, and also meet a number of other exciting market participants. We thoroughly enjoyed our trip. Huge thanks to Micky Swindale, Will Hawkley and the wider KPMG team for hosting such an excellent event.