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Innovation is Making Waves in the Gambling Industry

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Union Gaming analyst John DeCreeReading Time: 2 minutes

 

As the gambling industry continues its unprecedent expansion throughout the world, the competition among gambling operators is becoming fierce. That applies to both online and land-based operations. As competition increases, gambling operators are looking for ways to protect the bottom line. If a casino operation is struggling to increase revenues, it has to consider lowering its overhead for survival.

Last week, MGM Resorts announced it was looking at the possibility of eliminating jobs through the use of new automated technologies. The new 2020 plan would seem to be in response to the company’s stock taking a significant hit in 2018 when the company saw its shares plunged from $34 to $25, a 26 percent decline, in spite of a nice spike in revenues.

The decrease shook investors who believe the gambling industry is poised for growth as country after country has been passing the needed legislation to legalize certain forms of gambling.

Stock price rising
The stock has ticked up in recent weeks due in large part to the company announcing strong Q4 revenues totaling $3.052 billion, topping the forecast from analysts of about $2.98 billion. Full-year revenue totaled $11.76 billion with the company’s two Macau resorts being responsible for $3.2 billion.

Still, MGM Resorts has a responsibility to its stockholders to create value. If rising revenues aren’t enough to get the job done, the company has to look at lowering costs. Automation of certain positions could certainly help. Among the possibilities is using automation to fill drinks orders going to customers on the casino floor.

These drinks are usually prepared by “back of house” bartenders who do not interact with the public. Preprogramed automated machines have the ability to prepare drinks to order for waiters and waitresses. There’s also new technologies that allows patrons to pay at the table instead of a cashier. All told, MGM’s initiative is to eliminate 2,100 jobs by the end of the year 2020.

In Las Vegas, the MGM will have to work around the powerful Culinary Union to get approval for such changes due to union contract obligations. The Culinary Workers Union Local 226 and Bartenders Union Local 165 represent 60,000 workers in Las Vegas and Reno.

Gambling Growing Online and Offline
The announce certainly got the attention of union representatives. According to Culinary Union Secretary Geoconda Argüello-Kline, “Contracts have innovative automation and technology language, which set clear goals for worker retention, job training, advance notice of implementation, and severance package based on years of service if workers are laid off.” She added that the union “will be monitoring the situation closely … to ensure that the company follows the contract.”
Additionally, MGM’s proposal is receiving less than optimum support from investors. According to Union Gaming analyst John DeCree, “We found very few investors giving credit to the MGM 2020 initiative, and many questions were asked about timing and examples of cost saves.”

These kinds of changes are not likely confined to the US or land-based casinos. Certain innovations could affect online operations, like the ones found here at casinomir.com/gambling-sites, and land-based casinos all over the world. Online gambling sites are getting more and more popular for every year.

All gambling operators are in a battle for customers. At the same time, profitability is still the number one concern. As the gambling industry exposes itself to new technology and innovations, jobs are going to be put at risk.

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Innovation is Making Waves in the Gambling Industry

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GambleAware Launches “No Bet Inn” in Liverpool as Part of Bet Regret Campaign

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GambleAware Launches “No Bet Inn” in Liverpool as Part of Bet Regret CampaignReading Time: 1 minute

 

GambleAware has Launched “No Bet Inn” in Liverpool as part of Bet Regret campaign. The Bet Regret campaign aims to give support for the young men aged 16–34 who gamble regularly. New research conducted for GambleAware revealed that 58% of 18–44 year-old male sports bettors agree that they make impulsive bets in the heat of the moment.

“Some of my fondest memories of playing football were with Liverpool, so it was great to have a chat with fellow fans and watch the current team play, and it was genuinely nice to watch a full match in the No Bet Inn without the distraction of a mobile in anyone’s hand. No checking Instagram, no updating Facebook and crucially, no betting in-play or whilst drinking. It’s crazy to see the number of fans placing ill-considered bets and regretting it afterwards, so it was great to remind people to think twice before betting, avoid Bet Regret and just enjoy the game,” Garcia, famous football player said.

Marc Etches, CEO of GambleAware, said: “We created the No Bet Inn as a demonstration of our Bet Regret campaign and to make football fans think hard about their betting habits. At the No Bet Inn, people could enjoy the game and avoid BetRegret. The is one part of a national campaign for safer gambling which launched in February to raise awareness of behaviours that people might not always recognise as impulsive or risky, such as sports betting when drunk, bored or chasing losses.”

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: GambleAware Launches “No Bet Inn” in Liverpool as Part of Bet Regret Campaign

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Nielsen Releases “Esports Playbook for Brands” 2019

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Nielsen Releases “Esports Playbook for Brands” 2019Reading Time: 1 minute

 

Nielsen, the US-based global information and measurement company, has released its 2019 “Esports Playbook for Brands.

According to Esports Playbook for Brands, non-gaming brand involvement in esports has increased by 13% over the past year. Mainstream brands outside of traditional video game brands are entering the space.

Nielsen points out that 90% of U.S. esports viewers on Twitch can name at least one non-gaming sponsor; 70% of U.S. Twitch users spend more time engaging with esports than they do with traditional sports.

“Esports fans respect and welcome those brands that embrace what they already love, and get the need for the revenue and exposure that sponsors, distributors, and content creators bring with them,” says Bobby Sharma, founding partner of the Esports advisory firm Electronic Sports Group, in the playbook.

“But they also know when they are being used as test subjects… and that is where things can go awry,” he adds.

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Nielsen Releases “Esports Playbook for Brands” 2019

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Sports Betting Revenue of Rhode Island Rises in March

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Sports Betting Revenue of Rhode Island Rises in MarchReading Time: 1 minute

 

Rhode Island has experienced a revenue increase in March. However, the figures are still below the expectations.

Sportsbooks have featured the NCAA basketball tournament March Madness and earned US$1.54 million.

Current regulations establish that Rhode Island takes more than half of all sports betting revenue. Profits rose in March along with the number of bets made, with US$23.6 million wagered and US$22 million paid out.

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Sports Betting Revenue of Rhode Island Rises in March

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