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Gambling in the USA

Innovation is Making Waves in the Gambling Industry

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Photo Source: wsj.com

 

As the gambling industry continues its unprecedent expansion throughout the world, the competition among gambling operators is becoming fierce. That applies to both online and land-based operations. As competition increases, gambling operators are looking for ways to protect the bottom line. If a casino operation is struggling to increase revenues, it has to consider lowering its overhead for survival.

Last week, MGM Resorts announced it was looking at the possibility of eliminating jobs through the use of new automated technologies. The new 2020 plan would seem to be in response to the company’s stock taking a significant hit in 2018 when the company saw its shares plunged from $34 to $25, a 26 percent decline, in spite of a nice spike in revenues.

The decrease shook investors who believe the gambling industry is poised for growth as country after country has been passing the needed legislation to legalize certain forms of gambling.

Stock price rising
The stock has ticked up in recent weeks due in large part to the company announcing strong Q4 revenues totaling $3.052 billion, topping the forecast from analysts of about $2.98 billion. Full-year revenue totaled $11.76 billion with the company’s two Macau resorts being responsible for $3.2 billion.

Still, MGM Resorts has a responsibility to its stockholders to create value. If rising revenues aren’t enough to get the job done, the company has to look at lowering costs. Automation of certain positions could certainly help. Among the possibilities is using automation to fill drinks orders going to customers on the casino floor.

These drinks are usually prepared by “back of house” bartenders who do not interact with the public. Preprogramed automated machines have the ability to prepare drinks to order for waiters and waitresses. There’s also new technologies that allows patrons to pay at the table instead of a cashier. All told, MGM’s initiative is to eliminate 2,100 jobs by the end of the year 2020.

In Las Vegas, the MGM will have to work around the powerful Culinary Union to get approval for such changes due to union contract obligations. The Culinary Workers Union Local 226 and Bartenders Union Local 165 represent 60,000 workers in Las Vegas and Reno.

Gambling Growing Online and Offline
The announce certainly got the attention of union representatives. According to Culinary Union Secretary Geoconda Argüello-Kline, “Contracts have innovative automation and technology language, which set clear goals for worker retention, job training, advance notice of implementation, and severance package based on years of service if workers are laid off.” She added that the union “will be monitoring the situation closely … to ensure that the company follows the contract.”
Additionally, MGM’s proposal is receiving less than optimum support from investors. According to Union Gaming analyst John DeCree, “We found very few investors giving credit to the MGM 2020 initiative, and many questions were asked about timing and examples of cost saves.”

These kinds of changes are not likely confined to the US or land-based casinos. Certain innovations could affect online operations, like the ones found here at casinomir.com/gambling-sites, and land-based casinos all over the world. Online gambling sites are getting more and more popular for every year.

All gambling operators are in a battle for customers. At the same time, profitability is still the number one concern. As the gambling industry exposes itself to new technology and innovations, jobs are going to be put at risk.

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Gambling in the USA

EveryMatrix live on DraftKings in the US with Supremeland Gaming

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EveryMatrix live on DraftKings in the US with Supremeland Gaming

 

EveryMatrix is live with Supremeland Gaming, Inc. on DraftKings, its first exclusive content aggregation partnership in US.

The partnership will see Supremeland Gaming, through its American-based game studio Powderkeg, develop exclusive content on EveryMatrix technology, while also enabling EveryMatrix to distribute its games and provide additional gamification features such as free spins and tournaments for the US market via its SlotMatrix aggregation platform.

Supremeland Gaming’s content, via SlotMatrix, is now available on DraftKings in New Jersey with further states pending.

EveryMatrix is the industry’s largest content aggregator and has secured commercial agreements with several tier-1 operators in the US through SlotMatrix including DraftKings with its in-house content live in New Jersey and Ontario.

It has more than 300 global customers with North American licences in Ontario, New Jersey, Michigan, West Virginia, Connecticut and Pennsylvania.

Erik Nyman, President, EveryMatrix Americas, said: “At the core of the EveryMatrix product strategy has been to deliver its world-leading casino productivity and aggregation platform to the US market.

“Today, we have enabled our first partner Supremeland Gaming to go live and our customers can facilitate bonus capabilities for third-party games which has been never seen in this market until now. Powderkeg develops high-quality games and we are confident players will enjoy them.”

Rickard Öhrn, CEO of Supremeland Gaming, said: “This major milestone represents the first step on an exciting journey we are undertaking to deliver mischievous, innovative, and really fun-to-play online games to a broader audience through our partnership with EveryMatrix.”

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Gambling in the USA

INFRONT BETTOR EXPANDS NORTH AMERICAN OPERATIONS IN PARTNERSHIP WITH RUSH STREET INTERACTIVE AGREEMENT

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Key Partnership Across RSI Brands BetRivers and RushBet Includes Access to Infront’s Official ITF Data and Streams from 2025.

Infront Bettor, Infront’s betting-focused division, has successfully secured a strategic partnership with Rush Street Interactive Inc NYSE RSI (“RSI”), one of the leading operators in the Americas and the online operator of BetRivers in North America and RushBet in Latin America.

The new agreement covers Infront’s extensive portfolio, including access to the official fast path data of all International Tennis Federation ITF events, exclusively distributed by Infront Bettor from 2025. Official feed data directly from the umpire’s chair will be made available for over 58,000 matches from the Men’s and Women’s World Tennis Tour, the Billie Jean King Cup, and the Davis Cup. The corresponding video streams will also be distributed for a large portion of these matches.

The deal also covers Infront’s wider streaming portfolio from more than 40 global rights holders across soccer, basketball, and ice hockey. This includes top European soccer competitions such as France’s Ligue 1 Uber Eats from the 2024/25 season and premium ice hockey tournaments such as the IIHF Ice Hockey World Championship.

Diogo Almeida, Head of Sales, Infront Bettor said: “Our venture into the US betting landscape marks a significant milestone for the bold plans we have for Infront Bettor, and partnering with a key player, like RSI, in the industry is obviously the best way to significantly bolster our presence in this rapidly expanding market. It also ensures that fans have unmatched access to top-tier global sports events, which will be perfectly complemented with 24/7 betting opportunities through our partnership with the ITF.”

Richard Schwartz, CEO of Rush Street Interactive, said: “This partnership is a pivotal step for us in enhancing our offering to make sure we have premium and round-the-clock coverage for our customers. We are also very proud to continue to deliver the ITF to our bettors through next year, offering an enhanced tennis package that will see us consume more events than ever before. We know Infront has plans to offer a more immersive tennis betting experience, adding supplementary betting markets through collecting level 2 and level 3 data, and we look forward to seeing these come to life next year.”

For more information, visit infront.sport.

 

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Gambling in the USA

BETTING HERO REVS UP COLLABORATION WITH NASCAR TO ENHANCE BETTING EXPERIENCE FOR RACING FANS

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Betting Hero Research Uncovers Potential For Regional Betting Growth in the Sport.

Betting Hero, the leading customer acquisition, retention, and development partner for U.S. sportsbooks, has embarked on a consumer research collaboration with NASCAR to help the respective companies and their shared sportsbook operator clients better understand and serve North Carolina NASCAR fans with premium betting experiences.

Laying the foundation for continued fan engagement and future acquisition campaigns, Betting Hero has completed a research study, comprised of qualified bettors in the Tar Heel State to uncover their engagement preferences for NASCAR as both sports fans and bettors.

The study, which took place both online and in person in April 2024, shows a significant demand for NASCAR as a betting product in North Carolina. Respondents are almost three times more likely to bet on the sport than in previously surveyed states.

NASCAR ranked behind only the NFL, NBA, and MLB in betting activity by the study respondents, with 70% stating that they’ve watched a race for the first time because they’ve placed a bet on it.

“Having worked closely with NASCAR to educate its fans on the betting options available to them for several years, we have long believed in the opportunity to both attract new fans to the sport and better engage existing fans through thoughtfully curated betting experiences,” said Jai Maw, Co-Founder and President of Batting Hero. 

Maw continued, ”As is shown in the North Carolina study conducted by our in-house consumer research division, there is a clear correlation between most fans’ enjoyment or engagement in a sporting event and their betting activity overall. However, NASCAR fans have to work a little harder than fans of other major sports to find their betting preferences due to less available markets and prop betting options on average. Those that can find their preferred betting markets could also be more likely to remain loyal to their sportsbook of choice than fans of other sports where available markets are somewhat commoditized.”

As a market audience, 86% of North Carolinians see betting as a true complement to sporting enjoyment. They’re also loyal and active bettors, with over half of respondents having downloaded three gambling apps and almost 90% still using their primary sportsbook after registration.

Significantly, certain sportsbooks surveyed showed a disproportionately high level of NASCAR betting activity compared to brand awareness in the target group, which could suggest that having a strong NASCAR betting offering is more important than other factors in the registration decision process.

“NASCAR has extremely passionate fans and we see sports betting as another way they can engage with sport,” said Joe Solosky, Managing Director of Sports Betting at NASCAR. “We are excited, but not surprised, to see the success of NASCAR as an offering through the launch of sports betting in the industry’s backyard of North Carolina and are continuing to better improve the NASCAR betting product to give fans more options to responsibly engage with action on the track. The study discovered that 70 percent of respondents watched a race for the first time because they placed a bet on it, and it shows that our efforts in the space can attract new fans as well.”

North Carolina has quickly risen to the top tier of states for NASCAR betting volume, ranking among the top three states in its first two months since launch. Across the 20 states that were live in March and April of 2023, NASCAR’s handle has seen a substantial 15% year-over-year growth. In states like Illinois, Massachusetts, Michigan, and Mississippi, NASCAR’s handle has surged by at least 50% compared to the previous year. Even more impressively, in Nevada and New York, NASCAR’s handle has doubled year over year, indicating a significant increase in interest and betting activity in these regions.

Resident Culture Bar & Kitchen will be hosting a NASCAR post-party on Saturday, May 25th, for the Xfinity race the weekend of the Coke 600 and a Race Watch party for the Cup Series Coke 600 on Sunday, May 26th. Betting Hero‘s team of experts will be in attendance to help answer any sports betting-related questions for fans and patrons while ensuring all enjoy their experience betting on NASCAR responsibly.

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