INNOVATE OR DIE

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The numbers are not right. The growth online – including mobile, social, i-gaming – is off the charts. It’s the savior. Now the future of an entire industry, and the economics essential to numerous U.S. jurisdictions for gambling, is in the hands of new technology companies and their ability to disrupt or transform the casino business.

Revenue is Down

Land-based casinos have seen a decrease by more than 31% percent year-over-year, according to the American Gaming Association’s (AGA) Commercial Gaming Revenue Tracker1 . The year 2020 marked the first market contraction for the U.S. gaming industry since 2014 and equaling revenue more than 20 years ago. AGA President and CEO Bill Miller reported, “COVID-19 devastated our business and the employees and communities across the country that rely on casino gaming’s success.” The point Miller is making includes restaurants, room bookings, conventions, and meetings, all of which make up more than 72% of the integrated resort revenue in Las Vegas.

READ THE FULL ARTICLE BY LES OTTOLENGHI AND NICHOLAS JOHNSON IN THE 2021 FALL EDITION OF GAMING & LEISURE MAGAZINE.

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