Compliance Updates
Gaming CEOs Optimistic on Industry Outlook, Report Evolving Industry Challenges
Amidst an evolving economic landscape, gaming executives report a positive outlook on future industry business conditions while remaining satisfied with the current business environment, according to the American Gaming Association’s (AGA) Gaming Industry Outlook.
Nearly all gaming executives surveyed characterized the current business environment as good (44%) or satisfactory (50%), mirroring similar sentiment from Q3 2023. Meanwhile, executives are more optimistic about future conditions, with 32 percent of CEOs expecting business conditions to improve over the next six months, up from 20 percent in Q3 2023.
“Gaming’s record-setting growth over the last three years has set a new standard for industry success,” said AGA President and CEO Bill Miller. “However, as we enter a period of market normalization, continued investment and innovation in offering world-class, responsible entertainment experiences will be required to maintain industry momentum.”
Gaming Executive Panel
Gaming executives have become more positive in their views that overall balance sheet health will improve over the next 6 months (42% net positive), but they expect the pace of revenue growth (13% net negative) and new hiring (22% net negative) to slow. These expectations for decelerating growth have influenced expectations for increases in capital investment and gaming units in operation, with smaller net positive sentiments than before.
- In contrast to past Outlooks, gaming equipment suppliers are slightly pessimistic about the sale of gaming units for replacement use and new or expansion use (both 13% net negative). However, they remain optimistic about the pace of capital investment (38% net positive).
- Half of operator CEOs expect capital investments in hotels over the next year to be higher than normal, and compared to last fall, more also expect higher than normal levels of capital investment in meetings and conventions and table games (28%). Meanwhile, 44 percent of CEOs expect increases in food and beverage investment, down from 67 percent in Q3 2023.
These expectations are also informed by evolving macroeconomic challenges. Executives report that inflationary or interest rate concerns continue to be a major factor limiting operations (28%), but these have been overtaken by geo-political risk (34%) and uncertainty of the economic environment (34%) as the biggest limiting factors in the most recent Gaming Executive Panel.
Current Conditions Index
The Current Conditions Index of 102.8 for Q1 indicates solid annualized real economic growth in the industry of 2.8%. This includes gaming revenue, employment and employee wages and salaries. Notably, the Current Conditions Index shows gaming expanding faster than the overall U.S. economy which last week reported 1.6 percent GDP growth in Q1 2024.
Future Conditions Index
The Future Conditions Index stands at 102.2, indicating annualized industry economic activity, after controlling for underlying inflation, is expected to moderately increase over the next six months. This outlook reflects Oxford Economics’ forecast that the U.S. economy will slow during 2024 but avoid recession. Despite a projected economic slowdown, consumer survey results continue to indicate that more than one-third of adults expect to visit a casino during the next 12 months, consistent with prior quarter results.
About the Outlook
The AGA Gaming Industry Outlook is prepared biannually by Oxford Economics. It provides a timely measure of recent industry growth and future expectations. The Q1 2024 survey was conducted between March 28 – April 10, 2024. A total of 32 executives responded, including executives at the major international and domestic gaming companies, tribal gaming operators, single-unit casino operators, major gaming equipment suppliers, and major iGaming and/or sports betting operators.
Benjamin Bradtke Co-Founder of ThrillTech
ThrillTech lands Gibraltar B2B supplier licence
Approval from HM Government of Gibraltar’s Gambling Division lets the supplier serve Gibraltar-licensed iGaming operators.
ThrillTech has been granted a Gambling Services (B2B) Licence by the Gambling Division of HM Government of Gibraltar, allowing the supplier to provide its opt-in jackpot and mystery reward products to regulated iGaming operators licensed in Gibraltar.
The company said the licence supports its international expansion plans and will enable it to deploy its ThrillPots
product with additional operators in the jurisdiction, which hosts a number of tier-one betting and gaming brands.
Benjamin Bradtke, Co-Founder of ThrillTech, said: “Securing a B2B licence in Gibraltar is an important step for ThrillTech and a testament to our market-leading jackpots technology. Gibraltar is home to some of the industry’s most prestigious operators. This approval not only accelerates our global expansion strategy but now allows us to provide these major operators with new layers of player engagement which generate incremental revenue.”
ThrillTech said it seeks market-specific licences and certifications because its side-bet jackpots operate independently of operators’ core casino games and betting products. The company added that its jackpots are powered by a proprietary, certified RNG and do not alter core game RTP, with funding coming from opt-in player contributions.
According to ThrillTech, its regulated market licences and certifications also include the United Kingdom, Sweden, the Netherlands, Romania, Malta, Peru, and Brazil.
The post ThrillTech lands Gibraltar B2B supplier licence appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
Betting and Gaming Council
BGC Calls on Tech Giants to Protect Consumers from Illegal Gambling Sites
The Betting and Gaming Council (BGC) has issued an open letter to Britain’s leading technology platforms calling for urgent action to tackle the growing threat posed by illegal gambling operators online.
The letter, signed by BGC Chief Executive Grainne Hurst, warns that black market gambling websites are increasingly using social media platforms, search engines, messaging services and digital advertising networks to reach consumers in Britain, including people who have self-excluded from gambling and those seeking support.
The intervention follows warnings from Gambling Commission Executive Director Tim Miller, who earlier this year highlighted the continued presence of illegal gambling advertising online, including promotions for so-called “not on GamStop” operators.
The BGC argues that illegal operators are exploiting digital platforms to access UK consumers while operating entirely outside the regulatory framework designed to protect them.
Unlike regulated operators, black market gambling websites are not licensed by the Gambling Commission, do not carry out customer protection measures, do not contribute to research, prevention and treatment services through the statutory levy, and do not pay UK tax.
Analysis by WARC suggests illegal operators now account for almost half of all gambling advertising spend in Britain and could overtake the regulated sector entirely by 2028. Separate analysis by H2 Gambling Capital forecasts that stakes with black market operators could grow from £17bn today to £33bn by 2028.
Grainne Hurst, Chief Executive of the Betting and Gaming Council, said:
“The harmful black market is growing at an alarming rate, and illegal operators are exploiting online platforms to target British consumers.
“Technology companies have some of the most advanced tools, data and expertise in the world. The question is no longer whether this problem can be addressed, but whether enough is being done.
“Every consumer drawn towards an illegal operator is being pulled away from the protections of the regulated market.
“We are calling on technology platforms to match the scale of the threat with the scale of their response.”
In the open letter, the BGC calls on technology companies to proactively identify and remove illegal gambling advertising, invest more resources in disrupting black market operators, strengthen cooperation with regulators and law enforcement, increase transparency around enforcement activity and work collectively to prevent vulnerable consumers being targeted by unlicensed operators.
The post BGC Calls on Tech Giants to Protect Consumers from Illegal Gambling Sites appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
Blazing Flower
CT Interactive Strengthens its Presence in Romania with Newly Certified Games
CT Interactive continues to strengthen its position in Romania’s regulated iGaming market with the certification of 25 additional game titles. Following this expansion, the company’s certified portfolio in the country now comprises 126 games, reinforcing its commitment to growth across regulated European markets.
Among the newly certified titles is Diamond Tree, CT Interactive’s latest progressive jackpot, featuring some of the company’s best-performing games. The progressive jackpot includes popular titles such as 20 Mega Slot, 20 Star Party, 40 Mega Slot, 40 Treasures, Chilli Fruits, HOT 7’s x 2, King of Clovers, Lord of Luck, Lucky Clover, Lucky Clover 20, Moon Lord, Mystic Moon, The Big Chilli, Wild Clover and Win Storm.
In addition, several standout games have also received certification for the Romanian market, including Hell’s Cherries, Happy Miner, Blazing Flower, Win Storm Deluxe and other player-favourite titles.
“Certification in Romania is an important part of our European growth strategy. This expansion not only strengthens our presence in the market but also enables us to deliver a broader and more diverse range of premium gaming content to licensed operators and their players,” said Martin Ivanov, Chief Operating Officer of CT Interactive.
Bogdan Smeu, Regional Manager Romania, added: “Romania continues to be one of the most dynamic regulated markets in the region, with increasing demand for high-quality gaming content. Expanding our certified portfolio allows us to better support our operator partners while providing players with access to proven, high-performing titles.”
With these new certifications, CT Interactive further strengthens its position in Romania, offering operators a diverse portfolio of engaging and fully compliant gaming content.
The post CT Interactive Strengthens its Presence in Romania with Newly Certified Games appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
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