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Gaming CEOs Remain Positive on Current Business Climate, Reserved on Future Outlook

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The majority of gaming executives report a positive view of current business conditions, while economic uncertainty is tempering future industry growth expectations, according to the American Gaming Association’s (AGA) Gaming Industry Outlook presented in partnership with Fitch Ratings.

Overall, nearly every gaming executive surveyed characterizes the current business situation as good (62%) or satisfactory (35%). However, panel participants report a more cautious outlook moving forward, with only 20 percent expecting future conditions to be better than today and two-thirds (64%) expecting future conditions to be the same.

“Gaming’s record momentum has continued into 2023 and that is clearly reflected by the attitudes of gaming executives around the country,” said AGA President and CEO Bill Miller. “While projections of slowing growth across the American economy are muting expectations for gaming in the medium term, our industry is well-positioned to weather any potential headwinds.”

Current Conditions Index
The Current Conditions Index of 106.0 shows strong growth in casino gaming-related economic activity in Q1 2023 relative to Q4 2022, the commercial gaming industry’s highest-grossing quarter to date. Over the last three quarters, industry activity has been expanding at an annualized pace of approximately 8.4 percent, reflecting real underlying growth, controlled for the effects of inflation. Comparatively, the national U.S. economy grew 2.9 percent over the last two quarters of 2022, the most recently available quarterly data.

Future Conditions Index
The Future Conditions Index decelerated to 97.1 in Q1 2023, indicating annualized industry economic activity is expected to decrease moderately over the next six months. This is partially driven by Gaming Executive Panel results—which remain positive but have softened relative to six months ago—as well as the current Oxford Economics forecast which predicts the U.S. economy will experience mild recession in the second half of 2023.

Gaming Executive Panel

Results from the Gaming Executive Panel show more cautious attitudes for growth over the next six months, with a greater share of executives expecting the pace of new employee hiring, revenue growth and customer activity to decrease over the next three to six months than to increase. Competition for current employees also continues to be a challenge, with talent retention cited as another area of concern by the panel.

Operators and suppliers both express outsized optimism across certain segments of their businesses:

More operators expect capital investment (21% net positive) and gaming units in operation (14% net positive) to increase over the next three to six months than decrease.
Gaming equipment manufacturers are particularly positive, with almost all supplier executives expecting sales of gaming units for replacement use to increase (88% net positive) and most expecting units for new or expansion use to increase (63% net positive). No gaming manufacturer expected the pace of sales to decrease.

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Concerns around interest rates and inflation (cited by 69% of respondents) and economic uncertainty (38%) remain top concerns for industry executives. Meanwhile, supply chain delays have fallen out of the top five concerns of executives, replaced with geopolitical risk (31%). Concerns around availability of credit have also eased in the past six months, with the share of executives reporting access to credit as tight (20%) equally balanced by the share that view it as easy (20%).

About the Outlook

The AGA Gaming Industry Outlook is presented in partnership with Fitch Ratings and prepared biannually by Oxford Economics. It provides a timely measure of recent industry growth and future expectations. The Q1 2023 survey was conducted between March 29 – April 10, 2023. A total of 26 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.

Gaming

10-15% Of Gamers In Florida Show Signs Of Gaming Addiction: Here Are 10 Signs Your Kid Is Suffering From It (And How You Can Help)

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Recent studies indicate that 10-15% of young gamers in Florida exhibit signs of gaming addiction. These findings underscore the need for early identification of symptoms to prevent negative impacts on children’s mental and physical health. Gaming addiction, if not dealt with, can lead to poor academic performance, social withdrawal, and even health problems.

Marin Cristian-Ovidiu, CEO of FreezeNova, discusses key indicators of gaming addiction and offers practical advice for parents.

Recognizing Early Signs

“Early recognition of gaming addiction is crucial in preventing long-term negative outcomes,” Marin explains. The following signs can help parents identify if their child might be developing an addiction:

Exhaustion and Irritability

Constant tiredness and grumpiness during the day could indicate late-night gaming sessions interfering with sleep.

Gaming Obsession 

If gaming dominates your child’s thoughts and conversations, and they plan their day around it while neglecting other responsibilities, it could be a sign of addiction.

Decline in Academic Performance and Lost Interests

A noticeable decline in academic performance or loss of interest in previously enjoyed activities may suggest your child is prioritizing gaming over more important tasks.

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Emotional Volatility

Extreme emotional reactions to in-game outcomes, such as uncontrolled anger, known as ‘Gamer Rage’, or intense celebrations, could indicate an unhealthy attachment to gaming.

Physical Strain

Signs of repetitive strain injuries like ‘Gamer’s Thumb’ or ‘Nintendo Neck’ from prolonged screen time are warning signals.

Neglecting Basic Needs 

If your child is neglecting basic needs like eating, sleeping, or hygiene to keep playing, gaming has likely taken an unhealthy control over their life.

Creating a Supportive Environment

While video games can be a great source of entertainment and connection, around 70% of people with signs of gaming addiction also experience social disorders. Marin recommends a few tips for building a supportive and open environment for your child.

Teamwork and Setting Boundaries

“Parents and children should work together to create a healthy gaming environment. Gaming addiction requires a holistic approach,” Marin advises. Start by setting clear boundaries on gaming time to ensure there’s room for schoolwork, chores, and quality family time.

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Revisit activities your child once loved, like football practice or exploring new hobbies together. It’s vital for your child to take breaks from screens, so create a balanced daily routine that includes homework, chores, exercise and just some gaming time. This allows your child to enjoy their games without neglecting other aspects of their life.

Open Communication

Maintain open communication. Discuss the games your child enjoys and any concerns you might have. By understanding their world, you can work together to find solutions.

Remember, you’re not alone. If you feel overwhelmed, seek professional help from specialists in gaming addiction. Marin concludes, “By working as a team, setting clear boundaries, and fostering open communication, we can help your child develop a healthy relationship with gaming and thrive in all areas of life.”

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Bally’s Interactive Launches the New Bally Bet Sportsbook & Casino App in Ontario

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Bally’s Interactive, the digital and sports betting division of Bally’s Corporation, has launched the all-new Bally Bet Sportsbook & Casino app in Ontario, Canada. This latest release marks another significant milestone for the company, following the recent app update in New Jersey and a series of successful app launches in the past year, including the introduction of Bally Bet Sportsbook across multiple states and Bally Casino in Rhode Island.

The updated Bally Bet Sportsbook & Casino app represents a major step forward, as it combines the functionalities of the existing Bally Casino app and Bally Bet Sportsbook app into one comprehensive platform. Powered by White Hat Gaming, this new app allows players residing in or traveling to Ontario to conveniently place wagers on both sports and casino games using a single app, account, and universal wallet.

“We are thrilled to introduce the new Bally Bet Sportsbook & Casino app, marking a significant milestone for Bally’s. This integrated platform merges the features of our previous apps, providing players in Ontario with a seamless experience for both sports and casino betting. Our commitment to enhancing the player experience remains at the forefront as we strive to personalize the enjoyment of playing Bally Bet,” said Robeson Reeves, CEO of Bally’s Corporation.

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PENN Entertainment Launches New Hollywood Casino App in Pennsylvania

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PENN Entertainment Inc. has launched its stand-alone Hollywood Casino app in Pennsylvania. Built on PENN’s proprietary technology platform, Hollywood Casino offers more than 700 iCasino games, a variety of daily promotions, and exciting jackpots.

Available on Android, iOS and desktop, customers in the Keystone State can access Hollywood Casino through either the ESPN BET app or through the new Hollywood Casino app using their same ESPN BET login credentials, allowing for a seamless experience across PENN’s online betting and casino platforms. PENN plans to launch Hollywood Casino in additional jurisdictions in 2025, subject to regulatory approvals.

Hollywood Casino features a variety of online slots, table games and live dealer content, including bespoke live dealer tables and a dedicated “Casino Floor” lobby that allows users to easily find virtual versions of their favorite slot games from PENN’s retail properties. Hollywood Casino also features original titles from PENN Game Studios, PENN’s in-house casino game development studio that has produced a number of popular online games, including Legendary LarryTM and Wuji MinesTM.

“We’re excited to launch Hollywood Casino as a stand-alone app in Pennsylvania, giving our customers access to their favorite games in a dedicated, casino-first experience. With four Hollywood Casino properties in the state, the app leverages our trusted retail brand and creates a seamless connection between our online and retail gaming experiences. We look forward to bringing this enhanced Hollywood Casino experience to more iCasino markets in early 2025, pending regulatory approvals,” said Aaron LaBerge, Chief Technology Officer at PENN Entertainment.

Hollywood Casino is also fully integrated with PENN Play, the Company’s omnichannel loyalty program that allows members to earn and redeem rewards, including PENN Cash, exclusive tier benefits and personalized services.

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