Gaming CEOs Are Hopeful About Future
The American Gaming Association (AGA) has just published the first edition of its Gaming CEO Outlook survey. The results indicate that the gambling industry’s leaders feel cautiously optimistic about the rest of 2021 for the industry at large — all while still expressing concerns about supply and employment issues.
The results of the American Gaming Association (AGA)’s first-ever Gaming CEO Outlook survey indicate that industry leaders feel optimistic about the rest of 2021 for the gambling industry overall. ©PhotoMIX-Company/Pixabay
Survey Panel Made up of 24 Individuals
The results of the first edition of the American Gaming Association’s (AGA) Gaming CEO Outlook survey reveal some promising indications for the future of the American gambling industry.
They suggest that industry leaders, such as the CEOs of major operators and providers, are expressing cautious optimism concerning the remainder of 2021 for the industry at large — all while holding certain reservations on the topics of supply shortages and employment issues.
The survey, which the AGA titled The Gaming CEO Outlook, was created for the association by global forecasting and quantitative analysis firm Oxford Economics. To generate its results, it takes into consideration economic factors such as gaming revenue and casino visitation, as well as CEO responses, in order to make projections about the future of the nation’s gaming industry.
As much as 48% of the AGA’s Gaming Executive Panel, which is composed of both AGA operators and supplier CEOs and top executives, was hopeful that business conditions were going to improve towards the end of the year.
The panel was made up specifically of 24 individuals who responded to the Q3 2021 survey, which was conducted between August 16th and September 14th 2021. An encouraging 54.1% of the panel expected continued growth over the next six months, while 9.7% expected a decrease in revenue.
But it wasn’t just optimism expressed in the AGA’s survey: 71% of the panel cited supply issues as a potential problem that could seriously hinder the industry’s future operations, while a shortage of labor was identified by 63% of the panel.
US Gambling Industry More Resilient as a Result of Covid-19
The president and CEO of the American Gambling Association (AGA) Bill Miller praised the results of the association’s Gaming CEO Outlook, claiming that it is proof of the industry’s recovery after a highly challenging 2020:
“AGA’s inaugural Gaming CEO Outlook reflects the strength of our recovery and consumer demand for our world-class entertainment offerings. The promising outlook is built on our innovation, but like many industries, supply chain and worker shortages continue to slow our full recovery.”– Bill Miller, President and CEO, American Gaming Association (AGA)
The AGA also included its Current Conditions Index within the Gaming CEO Outlook survey, which analyzes the level of economic activity in the gaming market. It showed that economic activity in the industry grew by 15.1% in Q3 compared to Q2.
This result was achieved by measuring gaming revenue, employment and employee wages. While this represented a slower growth when compared to Q2 2021, it still stood as one of the fastest growths in the 20-year history of the index.
Trevor Croker, chief executive of Aristocrat Technologies and chairman of the AGA, felt that the US gambling industry is on the whole more resilient and tougher as a result of weathering the Covid-19 pandemic:
“We are a more resilient industry because of the Covid-19 pandemic. As the gaming industry looks to 2022 and beyond, our impressive recovery will continue to create jobs, support communities, and generate needed taxes.”– Trevor Croker, Chairman, American Gaming Association (AGA)
UK Gambling Commission Survey Finds Correlation Between Childhood Gambling & Gambling During Adulthood
For its part, the United Kingdom’s Gambling Commission published a report in August 2021 examining the impact of childhood exposure to gambling products on future gambling behavior.
Conducted by the agency 2CV, the study was part of the gambling regulator’s larger research program, which sought to document the experiences of children, young people and vulnerable adults in relation to gambling.
The survey’s findings ended up confirming that there is indeed a correlation between exposure to gambling during childhood and later gambling life experiences. Furthermore, gambling was found to have had a marked effect on significant life events, such as first jobs, financial independence and family holidays.
In a statement accompanying the findings, Gambling Commission Director Tim Miller explained that the research was vital to help the commission in its efforts to continue protecting children from the harms associated with gambling:
“Protecting consumers is at the heart of everything we do, and it is important we understand the ways in which children and young people gain exposure to gambling, the products they are playing, and what factors influence their relationship with gambling.”
Former ESPN CEO Joined Genius Sports in August 2021
Returning now to the United States, sports data and technology giant Genius Sports announced last month in August 2021 the appointment of former chief executive of ESPN and founder of the NFL Network Steve Bornstein to president of the operator’s North American business.
Bornstein’s new role will see him steer the provider’s continued expansion and growth into the US and Canadian markets, with the supplier already holding partners and clients such as the National Football League (NFL), Nascar, the National Basketball Association (NBA) and Major League Baseball (MLB).
Bornstein boasts over 20 years’ worth of professional experience from his time at both ESPN and ABC. He joined the world-renowned sports network in 1998, becoming the sports empire’s youngest president and chief executive at the time.
