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Gaming CEOs Optimistic on Industry Outlook, Report Evolving Industry Challenges

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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.

 

AI

Isle of Man secures Royal Assent for Data Asset Foundations law

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The Isle of Man’s Data Asset Foundations legislation has received Royal Assent, bringing into law what the government and partners describe as the world’s first statutory framework for recognising and managing governed data assets.

With Royal Assent granted, the programme moves into implementation. Digital Isle of Man said the next phase includes developing a Data Asset Register, drafting supporting regulations, and building the operational systems needed to run the framework.

A central element is a statutory Data Asset Register intended to record, classify and oversee recognised data assets. Digital Isle of Man said consultation on the register and registrar model has already taken place and industry feedback is being used to shape regulations and operational guidance.

Tim Johnston MHK, Minister for Enterprise, said:

‘Receiving Royal Assent marks a proud and historic moment for the Isle of Man and reflects years of dedicated work to develop a concept that did not previously exist anywhere in the world and bring it fully into law.

‘As the first jurisdiction in the world to fully establish a framework of this kind, the Isle of Man is demonstrating what becomes possible when innovation, collaboration and regulatory agility come together with clear long-term ambition.’

Aga Strandskov, Head of Data Strategy at Digital Isle of Man, said:

‘Many organisations already recognise data as a major business asset but have lacked the legal certainty needed to use it with confidence. That’s exactly what this new legislation enables.

‘The focus now turns to building the wider ecosystem, operational capability and practical implementation needed to support the next phase of the programme. The Register, supporting regulations and operational infrastructure are all active workstreams already progressing at pace.

‘For businesses, this creates real commercial opportunities that have previously been difficult to support within existing legal and operational models, from governed AI training datasets and trusted cross-organisational collaboration through to new approaches around data-sharing, financing and value creation.’

John Bottega, President at EDM Association, said:

‘Globally, organisations are increasingly looking for clearer structures around how valuable data can be governed, shared and used responsibly.

‘The Isle of Man taking this step reflects a growing shift towards more mature and scalable approaches to trusted data governance that support both innovation and accountability.’

The post Isle of Man secures Royal Assent for Data Asset Foundations law appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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The Mill Adventure wins GLI-19 certification ahead of Ontario market entry

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The Mill Adventure has obtained GLI-19 certification as it prepares to enter regulated online gaming in Ontario, a key step in the platform provider’s North American expansion plans.

The company said the certification supports technical compliance requirements common across regulated North American markets, including platform functionality, reporting processes, KYC measures and geolocation. GLI-19 is a technical standard used for interactive gaming systems.

The milestone comes ahead of The Mill Adventure’s planned launch with its first client in Ontario. The company said it will build on experience in multiple European regulated jurisdictions as it targets further growth in North America.

The Mill Adventure also pointed to recent developments including the launch of Dutch operator Winz.nl and a wider integration with Optimove’s CRM suite.

Bjørnar Heggernes, Chief Commercial Officer at The Mill Adventure, said: “Achieving GLI-19 certification reinforces that our platform and compliance framework are built to support the complexity regulated operators face in markets like Ontario, without compromising performance or scalability.

“Our focus is not simply on entering North America, but on becoming a long-term technical partner for operators looking to scale efficiently across regulated jurisdictions.”

The post The Mill Adventure wins GLI-19 certification ahead of Ontario market entry appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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EveryMatrix gets conditional AGLC approval ahead of Alberta iGaming launch

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EveryMatrix has received conditional licensing approval from the Alberta Gaming, Liquor and Cannabis Commission (AGLC) to offer its iGaming technology in Alberta.

The approval allows the supplier to provide casino and sports platform technologies to licensed operators in the province, which is expected to launch a regulated iGaming market in July. Alberta would become Canada’s second regulated iGaming territory after Ontario.

At launch, EveryMatrix said it will offer titles from its in-house studio Fantasma Games and aggregated content, with plans to expand its portfolio over time.

The company said the Alberta approval adds to its North American licensing footprint, which includes Ontario (since 2022) and US states New Jersey, Michigan, West Virginia, Connecticut, and Pennsylvania. EveryMatrix also said it has signed agreements to deliver platform and in-house gaming content in Alberta.

Rani Axon, Market Manager, North America, EveryMatrix, said: “Entering Alberta marks an exciting step for the Group as we expand further into one of North America’s most attractive regulated markets. This approval shows the strength of our compliance team and our readiness to meet regulatory requirements in any market.”

The post EveryMatrix gets conditional AGLC approval ahead of Alberta iGaming launch appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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