Due to corona virus pandemic, lockdown, and economic adversity, and most of the companies are going through an uncertain period. As sports events were postponed, many bookmaking agencies had also faced a rapid drop in their revenuee and are still looking for scopes to treat their losses. But, based on exceptions, few people are there, who have not only successfully maintained their businesses during the time of distress but also have managed to acquire handsome profits.
Richard and Ian Livingstone, London’s billionaire sibling, have recently managed to mark their name as a financial winner, as the share of their gambling firm has jumped to double and touched £1.4 billion’s margin. But the most intriguing part is, they have managed to do it amid the corona virus pandemic and the financial crisis it triggered.
The millionaire sibling is the owner of various luxurious hotels and several high-end shops. Besides, the brothers’ duo also has plenty of luxurious resorts on their name. The list doesn’t end here, as the brothers are also related to Panama Pacifico, and they hold the most significant share of the Evolution Gaming, a popular name in the Swedish casino business.
The brothers always try to keep them away from all kinds of publicities but have Cliveden House in Berkshire, which is listed as Grade-I. They have also bought 47 Holiday Inn Express Hotels worth £575 million. Ian Livingstone now possesses the chair of the director in Evolution Gaming’s board. Besides, Richard manages the shares of both the brothers.
The thrust of coronavirus pandemic and the subsequent lockdown have affected the entire globe. Because of the nationwide and social distancing protocols, people have been forced to adopt different other ways to get them entertained. Now, due to this tendency, the online betting and gambling industry was rewarded with a massive amount of traffic. Blackjack, slots, poker, and roulette were some exciting gambling options, which have been played by the gamblers on a large scale. This unexpected surge of traffic in online casinos has placed the share price of Evolution Gaming on rapid growth.
As for the recent few months, the share price of Evolution gaming was growing at a rapid scale and it became double while showcasing a tremendous amount of profit for the billionaire brother duo. If we look at Evolution Gaming’s share price in last January, it was around 282 Swedish kroner (£37), but with immense highs of 5777 kroner (£77), it is now more or less 552 kroner (£70). The increase rate is amusingly near 97% on average. Despite the 70% ownership of the company (30 million), this immense boost was solely responsible for Richard’s share paper profit, which was £671 million. To give a better perspective, in 2015, when the company had made its arrival, Evolution Gaming’s shares were near 80 kroner (£10).
The brothers have successfully included their names in the list of London’s wealthiest billionaires, as their investment, expertise, and excellence in properties have propelled them towards profitability and fame. The way they approach the investments will undoubtedly assist them in averting the current downward trend of property asset values of hotels and resorts across the globe. The prowess they have in their investment technique will surely be an excellent example for the people who follow business scenes.
This investment by these brothers is smart in all means, as it is finely devised for giving them a position in the online gaming market as an essential back-end, which is meant for the world’s famous online gambling podiums. Besides, as their brand is well famed, they don’t require investing large amounts of money on the marketing and advertising part, which also allows them to gain profit from the online gaming in several companies across the globe.
The fact doesn’t even need to be mentioned that Evolution Gaming is quite successful and well-famed in the online gambling market. And many different online gambling big shots of the United Kingdom, including Betfair, Paddy Power, and William Hill, take their products for entertaining the gamblers across the entire world. Online gambling companies like these often utilise gaming software from Evolution Gaming as the back-end and rebrands them using their banner.
Evolution Gaming has also made their footmarks in the area of live casino gambling and has made notable progress in it as well. Live casino gaming is live streaming of dealer games like poker, blackjack, and roulette, which get broadcasted online. Gamblers can play and wager money on these real-time casino games through their smartphones, tablets, or personal computers. Evolution Gaming has already succeeded in making a section for live casino games. And the company now has eight successful studios, which are placed in different places of Canada, Europe, and the United States.