It's a 3.5% guaranteed house edge on very popular random games, I very much doubt it's loss making.
That's for many also your only income which needs to cover your operational and other expences. We have seen and going to see some casinos go busted even they make profit from slot players, that profit is shared between casino operator, game provider and often affiliate. Then you have your other expences, directly related to games are at least bonus costs which cut your profit margin etc..
Then these other million things what every business has, staff, office, marketing costs and all running costs. Many casinos really are not gold mines at the moment, share prices with many have dipped quite big (they also rocketed huge speed up) which usually makes it more difficult to find investors or cheap cash from markets to develop your business which is more or less needed time to time.
10 years ago or something when every day was launch of few new ones it looked like a gold mine, just integrate payment channels and Starburst to your site and watch your NGR hitting nice numbers. Now we see less totally new operators and very few who really make themselves huge with some new ideas but much more these which were operating 1-3 years and then realize that we can't get our share from market with our product and skills, better quite. Some totally new innovations could help at least temporarily but also big operators are really fast to adapt some new working ideas some new operator have created.
It really seems that highest bubble here in Malta start to blow, big operators buying small ones which have anything worth of buying, some who came semi big like GIG, sold they all casino brands, two most successful Guts and
Rizk to Betsson, they were (especially Rizk when you read their reports which can be found from their site) were doing good but maybe other areas of business not and have to pay some quite big taken bonds this year etc.. Their share price was two years ago around 60 NOK and bit over, today seems to be 4.40 SEK. Kindred two yeas ago around 128 SEK now 38.42 SEK.
From quarterly reports what listed companies have to provide, it can be seen that making losses is also possible. Igaming bubble been blown up years and yers but already sometime ago came to point where that easy money is already taken, now it takes loads more to survive in competition. Coming market as new operator with your own license (white labels are bit different when for example Aspire is doing you all marketing and other operations and you pay them for that) and staff (many also buy things like support, payments, KYC/Fraud etc.. from 3rd parties who only provide these services to others without having any own casino brands, that's been growing quite a lot in last years as these needs quite big head count to cover all hours and languages, it's very big investment to have on your own when you launch your site, of course quality is hard to keep same if you have one dedicated team only for your brand or Aspire style where same support agent serve same time customer from 4 different brands, you just can't learn tens of them as well you can learn one, at Aspire T&C:s ofc are really same for all which helps but anyway you missing something of that deep knowledge if you have 20 instead of 1) is quite rare these days and needs quite big investment and investors are not that easy to find to igaming anymore as success is not that "guaranteed" than it was still few years ago when these big companies came huge companies. In beginning also you always spend much more to bonuses and marketing to get players in, then with time, you have to get your costs in healthy level, you can't keep your opening offers and much higher bonus costs for ever, these are temporary things what most of new casinos have as have to have better SUB:s to make players to change from their old place to you.
Sorry about long and horribly structured post, but i really can say that loss making and busting out from business is possible in igaming and that's era we are going through now, healthy big companies who already have grown huge, maybe (would like to say probably but i'm bad at betting) survive as they can buy others if they see something interesting around. Many also have some money for bad days to temporarily boost bonus costs etc... But amount of small operators (now including white labels) have reduced a lot for especially some operators who targeted B2B WL business, have lost most of their WL:s as they couldn't make profit, even they have that same guaranteed house edge than all others.
