Seven trending gaming industry stories that will impact your casino Revenue Strategy.
1. Online Gaming is a Sure Bet in PA
The gaming landscape in Pennsylvania — the state second only to Nevada in commercial casino revenue—is about to shift significantly as legalized online casino gaming, daily fantasy sports betting and online lottery sales are about to be approved by the state.
“The main question appears to be whether other expansions of legalized gambling are in store,” reports The Tribune-Review. “Satellite casinos, airport gaming areas, skill-based gaming and even sports betting are being considered.”7 trending #casino #gaming #revenuestrategy stories Click To Tweet
2. Tribal Gaming Revenues on the Rise
According to the National Indian Gaming Commission, revenue for U.S. tribal casinos is up 4.4% to $31.2 billion compared to just 1.1% for commercial casinos. Jonodev O. Chaudhuri, Chairman of NIGA, speculates the growth is a result of self-determination policies that tribal casinos have been enforcing and the fact that casinos play a very important role in local economies.
“Even though tribal casinos generated some $8 billion less in revenue than commercial casinos, their revenue is growing at a faster rate,” reports Casinopedia.
3. Want to Be as Successful as Wynn Resorts? Here’s how.
Thanks in part to its Macau properties, Wynn Resorts’ shares are up 44% over the past six months. But that’s only one of the reasons Wynn is one of the world’s most successful casino operations. Others include how it diversifies its revenue streams — from gaming to rooms to on-property spends.
4. How Cloud Computing Can Change Casinos
When casinos move their software systems into the cloud, the benefits are vast. Operations move at a much faster speed. Problems can be delivered and solved more quickly. Changes can be made more easily. And vendors can often play the role of IT staff.
“Many casino applications are candidates for a cloud solution,” says Azam Husain, Founder and CEO of Casino Science. “For example, hospitality management, host CRM, and gaming analytics solutions can all be delivered securely over the cloud today. And many casinos have already made significant cloud investments in these areas.”
5. Macau Casinos Continue Their Winning Streak
In July, gambling revenue in the world’s biggest gambling hub of Macau reached 23 billion patacas ($2.86 billion). That marks an estimated growth between 27 and 30%, reports Reuters.
The past year has been good for Macau with new resorts increasing competition and an increased number of tourists. There are also plans for increased infrastructure development, such as a new ferry terminal near Cotai and a planned light rail service to help increase visitors in the future.
6. U.S. Casinos Up 2% YOY
June was a good month for U.S. commercial casinos as the industry saw revenue from gambling increase to more than $3.3 billion, according to data compiled by the University of Nevada Las Vegas’ Center for Gaming Research.
Nevada accounted for about 27% of that revenue, while Atlantic City, Illinois, Pennsylvania and Maryland also did quite well.
7. Racinos are Hot in Ohio
As gambling revenues fell over the past year for Indiana, Pennsylvania and West Virginia, casino gambling in Ohio is in growth mode thanks to the state’s seven slots-only racinos.
The busiest of the racino operations is Northfield’s Hard Rock Racino, where gambling revenue was up $38.2 million in the last 12 months over the same period two years ago, reports Cleveland.com.
“The racinos (in Ohio) have done really well,” said Alan Silver, an assistant professor of restaurant, hotel and tourism at Ohio University who formerly worked in the casino industry. “They have added a lot of amenities. They are in the suburbs. You don’t have to drive very far. They have done a good job with marketing.”
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