Industry News
Technavio: VR Gambling Market to Grow by USD 1.74 Billion
Technavio’s latest market analysis report on the VR Gambling Market offers a comprehensive analysis on new product launches, the latest trends and the post-pandemic impact on businesses.
The VR gambling market potential growth difference will grow by USD 1.74 billion, as per the latest report by Technavio. The report also identifies the market to register an accelerating growth momentum at a CAGR of 53.13% during the forecast period.
Market Dynamics
The increased adoption of online gaming platforms has boosted the VR gambling market. The advent of online casinos is one of the key factors that will drive the adoption of VR technology in the online gambling segment. The online gambling segment has undergone certain advances in the last decade, including 3D graphics, live dealer casinos, and mobile gaming. VR is the next milestone in the evolution of internet gambling. In addition, other factors including an increase in esports betting and liberalisation of the regulatory framework will also boost the VR gambling market growth during the forecast period.
However, the high cost of VR headsets is one of the key factors that will curb the growth of the VR gambling market. The global VR headset market for gaming applications has progressed to the growth stage of the product lifecycle. However, the initial high cost of the device hinders its adoption. The vendors in the global VR headset market offer their products at high prices. The high cost of VR headsets will result in their low adoption among consumers. Furthermore, privacy concerns with regard to VR headsets and ban on gambling in many countries will also restrict the market growth during the forecast period.
Competitive Analysis
The competitive scenario provided in the VR gambling market report analyses, evaluates and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc.
The VR gambling market report provides complete insights on key vendors including 888 Holdings Plc, Caesars Entertainment Corp., DraftKings Inc., Evolution Gaming Group, Golden Nugget, GVC Holdings Plc, Kindred Group Plc, Mr Green, SlotsMillion, William Hill Plc, and others. The VR gambling market is fragmented and the vendors are delivering numerous gaming options to compete in the market. Market vendors are focusing more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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IAGA
The International Association of Gaming Advisors (IAGA) Announces 2024 International Gaming Summit in Washington, D.C.
The International Association of Gaming Advisors (IAGA) will hold its 41st International Gaming Summit Monday, May 27 through Thursday, May 30, 2024 at The Ritz-Carlton Washington, D.C.
As a premier event that brings together leaders from all global gaming sectors, the Summit will provide operators, suppliers, attorneys, investors, bankers, regulators and other advisor delegates with an unparalleled opportunity to meet and discuss the most important issues facing gaming.
“We are looking forward to holding this year’s 41st Annual International Gaming Summit in Washington, D.C., and are pleased to announce an agenda that includes a specific focus on some of the key sports betting issues the rapidly expanding US market is facing. As part of this focus, we will bring together representatives from global sports betting operators, regulatory agencies, professional sports leagues and other experts to discuss how the industry’s sports betting stakeholders can better work together to ensure a sustainable, responsible sports betting environment that is built on best practices lessons learned from other markets,” John Stawyskyj, President of IAGA, said.
“Beyond our sports betting focus, our diverse agenda includes discussions on other issues of importance including the growing impact of fraud and cyber breaches on regulated operators, a look into the federal and state lobbying process, an update on what’s happening in other gaming markets outside North America, a deep dive into new technologies and how they might impact gaming and more. I look forward to welcoming our delegates to Washington and participating with them in lively discussions about these critical issues and more,” Stawyskyj added.
Charlie Skinner
Marker Trax Appoints John Henderson as Senior Vice President of Operations
Marker Trax, a leader in cashless payment solutions for the gambling industry, has announced the appointment of John Henderson as its senior vice president of operations.
As the company continues solidifying its cashless payments sector leadership position, Henderson joins the team to play a key role in leading strategic planning efforts, executing new operator and customer initiatives, directing pursuit of key performance indicators, and ensuring overall product and technology quality control. He reports directly to, and will work closely with, Marker Trax President Charlie Skinner.
Henderson is a seasoned, energetic industry veteran who brings to Marker Trax more than four decades of success in delivering technology-based business solutions, leading innovation-forward companies seeking to increase their industry footprints and to solidify their market shares.
“We’re cementing our leadership position in the cashless space, and John is the right leader, at the right time, to help guide us there. He has tactical expertise, and a long track record of success in the IT space. More than that, though, he’s always eager to innovate – which aligns perfectly with our philosophy and goals. We’re lucky to have him on board,” Charlie Skinner, President of Marker Trax, said.
Immediately prior to joining Marker Trax, Henderson served as chief information officer at WorldStrides, a global leader in educational travel services, and helped the company navigate a business and IT transformation program. Henderson has also held client partner roles at Accenture, IBM, and Cognizant, and has served numerous global brands including Choice Hotels, Hilton Hotels, MGM Resorts, Wynn, Disney, and Royal Caribbean.
“Every step of his career, John’s shown natural aptitude for client relationship management and large-scale systems integrations, and a keen, tactical eye for optimizing performance at all levels of an operation. At Marker Trax, we’re increasing our market footprint through continual innovation, and John’s tactical leadership will be of tremendous benefit to reaching our goals,” Skinner said.
Henderson’s addition caps a prolific run of recent accomplishments for the company. It recently unveiled its innovative consumer product, Moolah Play, secured renewed commitment from partner and global payments leader Euronet Worldwide Inc., and is introducing its cashless credit technology into more markets around the country.
Affinity Interactive
Affinity Interactive Appoints Scott Butera as President & Chief Executive Officer
Affinity Interactive has announced the appointment of Scott Butera as President & Chief Executive Officer, effective immediately.
Mr. Butera, who most recently led AI’s Sports Information Group (SIG) business, brings over 30 years of experience in gaming, hospitality, media, entertainment, and sports to the pivotal role. In his new capacity, Mr. Butera will set strategy and oversee operations of the Company’s diversified portfolio of casinos resorts across Nevada, Missouri, and Iowa. He will also continue to oversee all print and online media platforms, including Daily Racing Form.
Mr. Butera is an industry veteran who has a history of leading growth and innovation at numerous companies. As CEO of SIG, he led initiatives to develop retail and business products and optimize ecommerce sales for the Daily Racing Form. Under his leadership, SIG experienced significant growth in market share and revenue. Previously, Mr. Butera served as President of Fubo Gaming at Fubo TV Inc. He has also held CEO and President positions at MGM Resorts International, the Arena Football League, Foxwoods Resort & Casino, Tropicana Entertainment, and Trump Entertainment, among others. Earlier in his career, he worked as an investment banker for more than a decade, gaining valuable financial expertise that he later applied to strategic decision-making in the gaming industry. Mr. Butera has a B.A. from Trinity College, where he served as a Trustee, and an MBA from New York University.
“Scott’s operating acumen and deep knowledge of the gaming and entertainment industries have helped AI and Sports Information Group expand product offerings and improve the sports and gaming experience for consumers around the world. I am confident Scott will integrate seamlessly into this expanded role, and under his leadership, Affinity will achieve greater success, continuing to deliver world-class experiences to nearly 1 million users and guests across platforms,” James J. Zenni Jr., Chairman of Affinity Interactive, said.
“Affinity’s mission to elevate the gaming industry through advanced technology and unparalleled customer offerings – both across digital media platforms as well as in-person gaming – remains a driving force behind the business’ success. I am eager to collaborate with Jim and leverage my familiarity with the business as well as my passion for driving innovative change to execute on AI’s long-term strategic priorities,” Mr. Butera said.
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