Entain, the owner of Ladbrokes, is investing £100 million in technology projects, including gaming in the metaverse. £40 million will be allocated to UK-based innovation.
Entain will open its first lab in London, which will be linked to its global innovation hub, Ennovate, to develop new interactive products for its customers.
EXPERIENCE ZONE
The Experience Zone, the central component of this and future Ennovate labs, offers customers, investors, partners, and employees the chance to experience an immersive experience in sports, gaming, and interactive entertainment.
In addition to working with other businesses like Verizon, BT, and Theta Labs, the group will work with non-profit organizations to foster ‘societal and environmental’ benefits through Ennovate.
CUTTING EDGE
Ennovate’s first dedicated innovation lab will open in Charterhouse Square, Farringdon, this spring after being fitted with ‘cutting-edge technology’ so that it can develop new entertainment experiences, Entain said.
Entain said the company will develop entertainment products for the metaverse as well as augmented and virtual reality experiences for its brands.
With a virtual reality or augmented reality headset, you can enter the metaverse, a 3D digital ecosystem.
Among its features are video games, work, shopping, socializing, a doctor’s consultation and a gallery.
WAVE OF MERGERS
A wave of mergers has taken place in the UK gambling industry in the past year, but the sector has also come under scrutiny for the harmful effects of online gaming and the heavy losses some players are experiencing.
The metaverse economy is projected to generate $800 billion in revenue by 2024, according to Bloomberg Intelligence.
Mark Zuckerberg is so convinced of the power of this new phase of the internet that his company, Facebook, is now known as Meta Platforms, with a heavy emphasis on its virtual reality offerings.
BETTING BIG ON VR
One of the hottest Christmas gifts this year was a virtual reality headset made by Meta. The company is one of the leading developers of augmented reality, which blends the digital and physical worlds.
The potential uses for virtual reality are endless, as are the possibilities for gambling in the metaverse.
With its investment in Ennovate, Entain is positioning itself to be at the forefront of this new era in online gaming.
