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Innovation is Making Waves in the Gambling Industry

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Union Gaming analyst John DeCreeReading Time: 2 minutes

 

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.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Innovation is Making Waves in the Gambling Industry

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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7777 gaming obtains supplier license in Brazil

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7777 gaming is thrilled to announce its latest milestone: obtaining a supplier certification for the Brazilian market. This achievement allows the company to bring its exciting portfolio of online casino games to local operators, marking a significant step in its expansion across Latin America.

“We are incredibly proud to enter Brazil, one of the most dynamic and promising gaming markets in the region,” shared Zhana Aleksandrova, Business Development Manager for Spain & Latin America at 7777 gaming. “This certification opens the door to collaborating with local operators and introducing Brazilian players to our innovative and engaging games. We’re excited to become part of this vibrant gaming landscape.”

The certification highlights 7777 gaming’s dedication to meeting local regulatory requirements and delivering top-quality gaming content tailored to diverse audiences. Players in Brazil can now enjoy fan-favorite titles like Crazy 100 Bucks, Candy Anyways, and Devil’s Deal Soul for Sale, all known for their captivating designs and immersive gameplay. The first pack of 20 thrilling titles is already certified and ready to be integrated into the local online operators’ platforms.

This expansion into Brazil is part of 7777 gaming’s broader strategy to establish itself as a leading provider in regulated markets worldwide. With its creative game portfolio and commitment to excellence, the company is set to make a strong impression in Brazil and beyond.

Stay tuned for more updates as 7777 gaming continues to bring its cutting-edge gaming experiences to players across the globe.

Meet 7777 gaming team at SBC Summit Rio, 25-27 February 2025, Riocentro, Rio de Janeiro, Brazil.

The post 7777 gaming obtains supplier license in Brazil appeared first on European Gaming Industry News.

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Sportradar’s Alpha Odds Receives Dual Honors at European iGaming Awards 2025

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Sportradar is pleased to announce that it was recognized with two prestigious honors at the European iGaming Awards during ICE Barcelona.  The company’s innovative Alpha Odds solution was honored in two competitive categories, continuing to solidify Sportradar as a leader in the online gaming industry. The European iGaming awards, a benchmark for excellence in the sector, celebrate groundbreaking achievements and advancements that redefine the gaming experience.

Alpha Odds received recognition in the following categories:

  • 2024 Innovation of the Year: Celebrating the pinnacle of innovation and creative thinking in iGaming.
  • Best Sports Betting Innovation: Honoring extraordinary advancements in the sports betting arena.

A service offered through Sportradar’s Managed Trading Services (MTS), Alpha Odds leverages AI-driven odds personalization technology to deliver bespoke betting prices for sportsbook operators. Alpha Odds recalculates financial exposure in real time, enabling operators to manage liability with unparalleled precision, reduce risk and enhance profitability. Since its launch, Alpha Odds has generated an average 13% improvement in margin performance for sportsbooks using the solution.

Through Alpha Odds, Sportradar’s MTS continues to optimize trading strategies and elevate sportsbook profitability, while reinforcing Sportradar’s position as a trusted technology partner for operators worldwide.

The post Sportradar’s Alpha Odds Receives Dual Honors at European iGaming Awards 2025 appeared first on European Gaming Industry News.

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Xanada Investments Announces Strategic Investment in Bettorify

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Xanada Investments has announced a strategic partnership with Bettorify, an emerging platform provider delivering localized and premium iGaming solutions.

Bettorify’s core differentiator lies in its dedication to localization. The company specializes in white-label and turnkey platforms that resonate with local players, particularly across Asia’s diverse and rapidly growing iGaming market.

By integrating local payment methods and offering a tailored game portfolio, Bettorify enables operators to meet the unique needs of players while navigating regional complexities with ease.

Xanada Investments’ role goes beyond capital infusion. The fund brings extensive expertise, a powerful network, and a shared vision for success. With this partnership, Bettorify is set to improve its offerings further, expand operations across Asia, and bring tailored, competitive solutions to operators navigating the region’s complex landscape.

Vladimir Malakchi, CEO & Managing Partner of Xanada Investments, shared his thoughts:
“Bettorify offers a compelling answer to the growing demand for localized solutions in Asia’s iGaming market, which remains one of the most dynamic and under-served regions globally. Their approach to building deeply customized platforms for local audiences is both innovative and necessary.

Hanna Rai, CEO of Bettorify, expressed enthusiasm about the partnership: “Our collaboration with Xanada Investments marks a pivotal moment for Bettorify. Their strategic guidance and support will help us accelerate our growth, expand our footprint across Asia, and continue delivering unmatched platforms that operators and players love. Together, we aim to set a new standard in the iGaming industry.”

The post Xanada Investments Announces Strategic Investment in Bettorify appeared first on European Gaming Industry News.

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