Gambling in the USA
Gaming Executives Positive on Current Business Conditions, Cautious on Future Growth Expectations
Overall Balance Sheet Health, Access to Credit Continue to Improve
In the face of slowing revenue expansion, gaming industry leaders continue to hold an overall positive view of the current business situation, with a notable improvement in credit conditions, according to the latest American Gaming Association (AGA) Gaming Industry Outlook.
The majority of respondents (88%) view the current state of the gaming industry as either good or satisfactory. Meanwhile, executives have a more conservative outlook on future business conditions, with respondents split on whether they expect conditions to improve over the next three-to-six months (3% net positive) and many expecting a decrease in customer activity (28% net negative).
“After years of very strong consumer gaming spending growth, expectations around customer activity over the next three to six months have cooled considerably,” said AGA Vice President of Research David Forman. “Still, gaming businesses remain well positioned, with executives touting strong balance sheets and more viewing access to credit as easy than restrictive for the first time in two years.”
Gaming Executive Panel
Since Q1, gaming executives’ sentiment has shifted, with a greater number of respondents now expecting a decline in customer activity over the next three to six months (28% net negative, up from 4% net negative in Q1). Despite this, panelists foresee improvements in overall balance sheet health (34% net positive).
Additionally, more executives reported access to credit as easy (19%) rather than restrictive (3%) for the first time in two years, and fewer cite interest rates as a major limiting factor than in the spring.
Hotel (56%) and food and beverage facilities (56%) continue to be the main and growing focus of capital investment among operators, followed by live entertainment (28%) and casino floor slots (22%).
Meanwhile, gaming equipment suppliers now believe their pace of capital investment and game sales will decelerate (13% net negative).
These expectations are impacted by evolving macroeconomic challenges, with uncertainty of the economic environment vaulting to the top of executive concerns (56%, up from 34% in Q1), followed by state regulatory concerns (31%), and inflationary or interest rate concerns and geopolitical risk (both 34%).
The Current Conditions Index
The Current Conditions Index for Q3 2024 was 97.3, which is consistent with real annualized contraction of 2.7 percent. The Current Conditions Index measures real economic activity in the industry, as measured by gaming revenue, employment and employee wages and salaries.
The Future Conditions Index
The Future Conditions Index, a leading indicator of changes in industry conditions, measured 98.9 in Q3. This indicates an environment in which real economic activity in the gaming sector, after controlling for underlying inflation, is expected to moderately decrease over the next six months (1.1% annualized rate).
Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.
Latest News
International Game Technology PLC announced that it is the first gaming industry supplier to receive the Internet Compliance Assessment Programme (iCAP) Ready accreditation for its iLottery operations from the National Council on Problem Gambling (NCPG). Based on the original iCAP designed for gaming operators, iCAP Ready is a U.S. accreditation programme designed for gaming suppliers who are committed to upholding responsible gaming standards across their products and services. Supported by the NCPG, iCAP Ready utilises best practices from the Internet Responsible Gambling Standards to ensure suppliers implement and maintain responsible gambling policies, provide effective staff training and offer comprehensive player support tools.
Light & Wonder Inc. has announced Simon Johnson as the new CEO of the Company’s iGaming business. Simon has been with Light & Wonder since 2017 and has been instrumental in driving the international commercial efforts of the Gaming business in his most recent role as Senior Vice President and International Managing Director. As part of his new role, Simon will report directly into Light & Wonder President and CEO Matt Wilson and join the Company’s Executive Leadership Team.
Las Vegas sports betting venture Circa Sports awarded $20,266,000 in prizes to the winners of its professional football contests, Circa Survivor and Circa Million VI. Highlights of the winnings included the largest Circa Survivor pool in contest history of $14.26 million. This was split equally among C3 Picks, DREAM STAKES, MEATBALL BROTHERS, PUMBAPACK9, TY1823, VODKA JOHNNY, WHATEVERYALLWANT and Whiskey Business. The $1 million Circa Million VI prize went to Team BP.
Partnerships
ESPN and PENN Entertainment announced that 10 additional retail sportsbooks at key PENN properties will be rebranded to “ESPN BET Sportsbook” in early 2025 (subject to all regulatory approvals), increasing the total number of ESPN BET branded sportsbooks at PENN properties to 19. The new ESPN BET locations will serve customers across Pennsylvania, Colorado, Ohio, Iowa, Indiana and West Virginia under PENN’s popular Hollywood and Ameristar Casino brands.
The Ottawa Black Bears announced an extensive partnership agreement with PowerPlay Online Sportsbook and Casino that will see the company’s logo featured on the club’s home and away jerseys. In addition to the jersey partnership, PowerPlay will also have branding elements inside the goal crease, behind the bench, on the LED display ring and along the rinkboards for Black Bears home games at Canadian Tire Centre. As part of the deal, PowerPlay also becomes the exclusive sportsbook and online casino partner for the Ottawa Black Bears.
The Professional Fighters League (PFL), the fastest growing and most innovative sports league, announced a multi-year partnership naming Cloudbet as the official and exclusive Sports Betting and Online Casino Partner of the PFL. This new collaboration will bring crypto-powered betting to PFL events, starting with the highly anticipated Road to Dubai Champions Series on January 25. Cloudbet has been a trusted name in the cryptocurrency world for over a decade. With this partnership, they will bring a whole new way to engage with MMA fans by combining their expertise in crypto sports betting with PFL’s innovative approach to fighting.
The post Gaming Americas Weekly Roundup – January 13-19 appeared first on European Gaming Industry News.
Bettors in Arizona wagered approximately $791 million on sports in October of 2024, according to a new report by the Arizona Department of Gaming. This represents an approximate 22% increase when compared to October of 2023.
The state collected approximately $2.35 million in privilege fees in the month.
The post Arizona Department of Gaming Releases October Sports Betting Figures appeared first on Gaming and Gambling Industry in the Americas.
Betting Hero
Neosurf & Betting Hero to reveal results of their in-depth study into US online gambling and payment habits in exclusive two-part webinar series
Neosurf, the globally trusted provider of swift and secure cash-to-digital payment solutions, has announced it will be sharing the findings of a recent study into the online betting habits, preferences and frustrations of US players in an exclusive two-part webinar series beginning on January 14th.
Neosurf commissioned the research via Betting Hero – a leading US-based iGaming portal with expertise in casino, sports betting and DFS. The webinars will see Neosurf CEO Americas, Sue Page, Betting Hero’s Co-Founder and President, Jai Maw, and Senior Director of Product and Research, Ernie Ropas, dive into the report’s key findings and discuss what some of the more surprising results could mean for operators.
The survey, which featured respondents from New Jersey, Colorado and North Carolina, aimed to help operators and regulators within the gambling industry better understand the typical US bettor – how and why they bet, what tools they use to manage their budget and what Responsible Gaming means to them. The findings will be revealed in the webinars and used to identify areas where Neosurf’s products can help operators provide a better user experience.
The research highlighted several aspects of payments and responsible gaming that bettors felt could be improved. Problems with payments remain an issue – 52% of respondents said that they’d experienced payment issues in the past year, and with over 50% depositing and withdrawing multiple times each month, there is a significant cost impact to the operators.
Additionally, respondents indicated they’d be in favour of using a service that could share pre-verified ID information with operators, with ease of use for new payment methods and seamless integration across multiple platforms identified as important factors in their choosing and remaining loyal to a single sports betting platform.
Sue Page, Neosurf CEO Americas, said: “It was important to us to gain a more detailed insight into the US sports bettor. We wanted to talk to the players and ask questions that no one else is asking, and through our collaboration with Betting Hero I’m delighted that we now have a comprehensive piece of research.
“Offering valuable insights into player habits – how and why they bet, the ongoing pain points they’re experiencing with payments and their thoughts on Responsible Gaming—we’ll be taking a deep dive into the results of the survey in our two-part webinar series starting at 10:00 ET on January 14th, and we encourage all US-focused operators and regulators to join us.”
The post Neosurf & Betting Hero to reveal results of their in-depth study into US online gambling and payment habits in exclusive two-part webinar series appeared first on Gaming and Gambling Industry in the Americas.
SCCG Partners with Osage Nation Gaming Enterprise to Enhance Interactive Gaming Operations with Managed Services
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SOFTSWISS Affiliate Software Platform Wins at IGA 2025
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