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Compliance Updates

Gaming CEOs Optimistic on Industry Outlook, Report Evolving Industry Challenges

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Amidst an evolving economic landscape, gaming executives report a positive outlook on future industry business conditions while remaining satisfied with the current business environment, according to the American Gaming Association’s (AGA) Gaming Industry Outlook.

Nearly all gaming executives surveyed characterized the current business environment as good (44%) or satisfactory (50%), mirroring similar sentiment from Q3 2023. Meanwhile, executives are more optimistic about future conditions, with 32 percent of CEOs expecting business conditions to improve over the next six months, up from 20 percent in Q3 2023.

“Gaming’s record-setting growth over the last three years has set a new standard for industry success,” said AGA President and CEO Bill Miller. “However, as we enter a period of market normalization, continued investment and innovation in offering world-class, responsible entertainment experiences will be required to maintain industry momentum.”

Gaming Executive Panel

Gaming executives have become more positive in their views that overall balance sheet health will improve over the next 6 months (42% net positive), but they expect the pace of revenue growth (13% net negative) and new hiring (22% net negative) to slow. These expectations for decelerating growth have influenced expectations for increases in capital investment and gaming units in operation, with smaller net positive sentiments than before.

  • In contrast to past Outlooks, gaming equipment suppliers are slightly pessimistic about the sale of gaming units for replacement use and new or expansion use (both 13% net negative). However, they remain optimistic about the pace of capital investment (38% net positive).
  • Half of operator CEOs expect capital investments in hotels over the next year to be higher than normal, and compared to last fall, more also expect higher than normal levels of capital investment in meetings and conventions and table games (28%). Meanwhile, 44 percent of CEOs expect increases in food and beverage investment, down from 67 percent in Q3 2023.

These expectations are also informed by evolving macroeconomic challenges. Executives report that inflationary or interest rate concerns continue to be a major factor limiting operations (28%), but these have been overtaken by geo-political risk (34%) and uncertainty of the economic environment (34%) as the biggest limiting factors in the most recent Gaming Executive Panel.

Current Conditions Index
The Current Conditions Index of 102.8 for Q1 indicates solid annualized real economic growth in the industry of 2.8%. This includes gaming revenue, employment and employee wages and salaries. Notably, the Current Conditions Index shows gaming expanding faster than the overall U.S. economy which last week reported 1.6 percent GDP growth in Q1 2024.

Future Conditions Index

The Future Conditions Index stands at 102.2, indicating annualized industry economic activity, after controlling for underlying inflation, is expected to moderately increase over the next six months. This outlook reflects Oxford Economics’ forecast that the U.S. economy will slow during 2024 but avoid recession. Despite a projected economic slowdown, consumer survey results continue to indicate that more than one-third of adults expect to visit a casino during the next 12 months, consistent with prior quarter results.

About the Outlook

The AGA Gaming Industry Outlook is prepared biannually by Oxford Economics. It provides a timely measure of recent industry growth and future expectations. The Q1 2024 survey was conducted between March 28 – April 10, 2024. A total of 32 executives responded, including executives at the major international and domestic gaming companies, tribal gaming operators, single-unit casino operators, major gaming equipment suppliers, and major iGaming and/or sports betting operators.

 

Compliance Updates

St8 enters the United Kingdom after securing B2B licence

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Casino games aggregator St8 has secured a UK Gambling Commission (UKGC) remote gambling software licence, as the company continues its strategic expansion into key regulated markets worldwide.

The newly-granted licence means that St8 can now provide its market-leading casino aggregation platform to UK-licensed operators.

The platform has already won plaudits for streamlining integrations and delivering content with speed, simplicity and reliability.

Vladimir Negine, founder and CEO at St8, said: “Securing a UK licence is another major milestone for St8. The UK remains a benchmark for regulation and player protection, and we’re excited to bring our tech-led approach to this mature and competitive market. We’re absolutely committed to supporting our operator partners in regulated markets around the world, and we’re already working on securing additional licences.”

The UKGC licence adds to St8’s growing list of regulated market approvals, which already includes Romania, Malta, and the Isle of Man, with further jurisdictions in progress as part of its broader European and global growth strategy.

St8 partners in the UK and beyond enjoy the industry’s leading back office, built to offer real-time reporting, deeper insights and simple promo management.

The post St8 enters the United Kingdom after securing B2B licence appeared first on European Gaming Industry News.

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Adam Packer

PrizePicks Secures Gaming Licenses in Puerto Rico and Maine

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PrizePicks, the largest daily fantasy sports operator in North America, announced it has secured gaming licenses in both Puerto Rico and Maine, marking a major milestone in the operator’s continued growth. With this expansion, PrizePicks becomes the first daily fantasy sports operator to obtain a gaming license in Puerto Rico.

PrizePicks players can now access Arena in Maine, with Puerto Rico set to go live in the coming months. Following the launch, PrizePicks will be operational with its fantasy contests in 47 jurisdictions across the US.

“We’re grateful to the Puerto Rico Gaming Commission and the Maine Gambling Control Unit for their partnership and support throughout the licensure process. We’ve seen tremendous engagement with Arena across the country, and we’re confident that momentum will carry into these new jurisdictions,” said Adam Packer, Senior Vice President of Legal & Compliance at PrizePicks.

The post PrizePicks Secures Gaming Licenses in Puerto Rico and Maine appeared first on Gaming and Gambling Industry in the Americas.

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AGLC

AGLC Announces New Board Chair

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Alberta Gaming, Liquor and Cannabis (AGLC) has announced the appointment of Larry Spagnolo as the new Board Chair, effective August 15, 2025. This announcement follows the official Order in Council issued by the Alberta Government and marks a new chapter in AGLC’s ongoing commitment to support communities, encourage responsible choices and position Alberta as the best place to do business.

Larry brings a wealth of experience in technology and business leadership to the AGLC Board and will play an integral role in guiding AGLC’s strategic direction. He is currently serving as VP and GM of Emerson’s SaaS SCADA business and has held senior roles at Zedi and Telus, driving innovation, growth, and global success.

A strong advocate for education and community, Larry serves as Vice Chair of Athabasca University’s Board of Governors and has held board roles with NAIT and Polytechnics Canada. He was awarded the King Charles III Coronation Medal for his community contributions.

AGLC and the Board of Directors extend their heartfelt thanks to Len Rhodes for his leadership and dedication as Board Chair since August 2019. He decided not to seek a third term and will continue to serve in this role until August 14, 2025. Len led AGLC through some significant milestones, including reducing red tape by 51%, growth of the emerging cannabis industry and ensuring AGLC delivered a balanced approach to business development, social responsibility, and regulatory oversight.

The post AGLC Announces New Board Chair appeared first on Gaming and Gambling Industry in the Americas.

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