The initial story of BlackBerry is as tragic as a Greek myth. So much so that it has been the subject of a "comedic" biopic directed by Matt Johnson (which we'd recommend, by the way).
In 1999, the small Canadian tech company developed a revolutionary mobile phone which could send e-mails over different wireless networks.
The company grew exponentially, reaching $20bn at its peak, before its meteoric descent caused by the release of the first iPhone in 2007.
When faced with extinction, BlackBerry opted not to fight the changing tides but to adapt. Contrary to popular belief, it never ceased trading.
Today, the company still exists. However, it now focuses on smart vehicle software and expanding into robotaxis, medical devices and robotics. It is almost unrecognisable.
One thing hasn't changed, though. Its name.
In an interview with Fortune, CEO John Giamatteo explained the reason for keeping the BlackBerry name: "I get more meetings because of the brand."
This simple statement can act as a powerful case study for any legacy company that has been struggling to keep up with the speed of technological innovation in the market.
A lesson for the gaming industry?
Gambling companies share a lot of similarities with the mobile phone sector. Both are shaped by technological advancements and strong competition. Companies that don't learn to adapt can easily go under.
BlackBerry, however, proves that brand recognition can be an incredibly powerful tool in revitalising a company.
Could former gaming giants learn a lot from BlackBerry?
Entain, Playtech, Evoke and William Hill are still alive and well; however, they have undoubtedly lost the status they once boasted.
Playtech is a great example of a once-massive company that has seen some hard times due to a growing competitive landscape.
The supplier effectively ran the industry alongside Microgaming in the 2000s and 2010s, reaching its peak in 2016, when valued at £3bn ($4bn). Yet, since then, it is fair to say Playtech has been overtaken by a handful of digital competitors.
Although the age-old adage goes "never give up," sometimes giving up one venture to start anew may be the best course of action
In recent years, the supplier has sold its Italian business, Snaitech, to Flutter. Snaitech, the B2C section of Playtech, was responsible for 55.4% of overall revenue in 2023. The sale pushed the company to go back to focusing on B2B technology.
Perhaps the biggest example of a fallen giant, William Hill was once one of the largest bookmakers in the world. Following a series of hefty fines for anti-money laundering failures and its purchase by 888 Holdings, now Evoke, the company has never been the same.
Rising from the ashes
The addition of AI and cryptocurrency to the gaming industry has generated more competition but also opportunities for strategic investments.
Moreover, the rise of prediction markets has also rocked the sports betting world, creating new opportunities for operators.
Although the age-old adage goes: "never give up," sometimes giving up one venture to start anew may be the best course of action.
In an interview with Global Gaming Insider, Koom Games CEO Marko Zulj put it best: "Being able to pivot is a strength of many successful entrepreneurs I know; it gives you energy, time and focus to make the other things work."
The ability to pivot is not only what helps companies stand out, but also what helps them survive.
GiG is a great example of this. The company first began as an operator and a supplier back in 2012 before selling its B2C vertical to Betsson Group in 2020. Despite struggling in the first year after the sale, the company quickly picked up momentum, gaining material profitability by 2023.
However, in 2026 GiG Software decided to pivot again. In September, the supplier announced its plans to acquire an 80% stake in 888Africa for €16.4m ($19.1m), re-entering the B2C vertical.
The company saw 888Africa as a profitable, cash-generative and rapidly expanding operator with strong traction across regulated African markets.
GiG Software proves that gambling companies needn't stick to one thing. The ability to reinvent oneself is what leads to true growth.
Sometimes changing your mind is not a sign of weakness.
Although BlackBerry is now worth $600m, compared to the $20bn it was worth at its peak, the company has found success in a new approach.
By leveraging their brands, companies like Playtech and Microgaming which pioneered the online gambling industry can begin anew; not by trying to recapture the success of the past, but by starting over in a new direction.
But those are just some examples. It's not about any one company; rather, the principle that a change of rules or circumstances should not define an organisation's journey. Maybe there is no such thing as a bad business, just bad timing.
Playtech reported a strong first half of 2026, with a 10% increase in year-on-year revenue
