Andrew Andronikou of UHY Hacker Young, administrator of the online gambling software firm, said that despite fears that the collapse of World Gaming could be followed by others in the sector, he believes it was an isolated incident.
“Most online gaming companies are effectively debt-free cash cows. The difference with World Gaming was that it had debts which were funding expansion,” he said.
“I don’t think there’d be many others that would be looking for administration as a haven. If there were going to be it would have happened by now.”
Andronikou also said the low overheads and strong cash flows make of the online gambling sector an attractive investment.
“We’re going to see consolidation in the industry over the next few weeks,” he predicts.
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