Everyone thought that even though land-based casino revenues worldwide are taking a hit because of this incredibly tough recession that online gaming revenue on the other hand would be new to the tough economic times because of the little amount of expenses it takes to operate an online casino but this hasn’t been the case.
Even online casinos worldwide are needs to feel the smidge of a recession that region on the depression and you can see this not only from the numbers but from their forward santespokane.com outlook on future revenues, but you can still find some diamonds in the rough as far as Online Gambling companies to either gamble at or invest in through the market. One of the online gaming companies that is growing revenue and net income like gangbusters is the Chinese online gaming firm Shanda.
While everyone else is losing their shirt financially Shanda has announced incredible revenue gains for the third fraction of 2008. Their revenues have increased by 41% over last year’s third-quarter revenues and net income increased over 20% from last year.
Shanda did so well because it has decided to focus more on online games and online board games rather than Online Gambling games. The potential for online game playing in China is incredible and if they could do this well during the recession imagine how well it will do when we come out of this recession. Even though Online Gambling hasn’t been hit as hard as land-based wagering in China, the one area that seems to be outpacing them all is the online game arena. I think that American wagering companies should learn a lesson from this company and try to shift their focus way more away from Online Gambling during the recession to online games because of the fact that online games have become almost a culture unto itself with the younger generation even as start to move online at a younger age every year.
I know this because I have a 42-year-old brother that still plays games on his Xbox along with his kids and allows gotten to the point where they are almost addicted to these games so it goes to show that online games as well as Online Gambling have a big influence even culturally among our young and among our middle-age population.