UEFA Postpones EURO Until 2021, Delivering Further Blows to Sports Betting Operators

Europe’s governing football body, UEFA, has officially postponed the European Championship (EURO) until 2021, which is the biggest precedent in the history of this competition which is played every 4 years.

The decision has come, of course, due to Covid-19 pandemic outbreak which has delayed or completely suspended almost all sporting events in the world.

Health is a Priority

EURO 2020 was supposed to happen this June and July across the entire continent (there is no a single host country, instead, the games will be played in different cities all throughout Europe)…

…but has been cancelled due to this novel coronavirus outbreak.

UEFA’s press release said:

“The health of all those involved in the game is the priority, as well as to avoid placing any unnecessary pressure on national public services involved in staging matches. The move will help all domestic competitions, currently on hold due to the Covid-19 emergency, to be completed.”

Club Championships Will Resume Over Summer

The suspension of one of the biggest sporting events in the world will deliver a massive blow to betting and gambling operators.

Several companies have already taken this postponement into when delivering their earnings updates, as the EURO delay was talked about for some time now.

GVC Holdings have said that the suspension of sports and reduction of retail traffic doe to coronavirus would lead to EBITDA declines of more than GBP 100 million.

The delay of EURO will allow country’s club championships, which are all currently put on hold, to continue in the summer. EURO qualifying playoff matches, that need to determine the last four entrants have also been delayed from March to early June.

Covid-19 Wreaking Havoc

So far, numerous operators have either closed their operations in countries that are hit by Covid-19 or have reported huge losses.

Playtech has completely share values have continued to decline across the globe.

In the US, a number of casinos have already closed their doors indefinitely doe to the outbreak.

Connecticut’s governor, Ned Lamont, has said about the situation:

“We must do everything we can as a community to slow the spread of this virus so that we don’t overwhelm our healthcare system and we protect the most vulnerable. Viruses do not know borders, which is why taking a regional approach on this issue is the best plan forward.”

Source:

“Uefa suspends European Championship until 2021”, igamingbusiness.com, March 17, 2020.