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Innovation is Making Waves in the Gambling Industry

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robo-bartender Innovation is Making Waves in the Gambling IndustryReading 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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IAG Joins with Alphaslot for FTAF in G2E Asia 2019

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7-13 IAG Joins with Alphaslot for FTAF in G2E Asia 2019Reading Time: 1 minute

 

Inside Asian Gaming, Asia’s leading gaming industry media brand, has announced its involvement in the Financial Technology Asia Forum at G2E Asia 2019, in partnership with forum curator Alphaslot.

The Financial Technology Asia Forum will bring together international industry leaders to share their insights on the challenges and opportunities for FinTech in the gaming entertainment industry. The forum will also examine blockchain technology from the casino operator and supplier’s perspective, including academic implementation, potential use case studies and implications for responsible gaming.

The morning session will be chaired by IAG CEO Andrew W Scott, and the afternoon session will be chaired by VP of International Business for iClick Interactive Asia Kelly Leung.


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: IAG Joins with Alphaslot for FTAF in G2E Asia 2019

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Sportradar And SportsGrid Announce Exclusive Partnership To Launch The First Free, 24-hour Sports Betting Network

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sportradar-sportsgrid Sportradar And SportsGrid Announce Exclusive Partnership To Launch The First Free, 24-hour Sports Betting NetworkReading Time: 2 minutes

 

Sportradar, the global leader in analyzing and leveraging the power of sports data, and SportsGrid, the leader in original programming for both daily fantasy and sports betting, today announced an exclusive partnership to launch the first free, 24-hour network dedicated to the sports betting audience. The partnership marries Sportradar’s ad tech, OTT technology and data with SportsGrid’s engaging original programming providing fans with accurate coverage and analysis of stats and odds across professional sports.

“Sportradar is always looking to enhance the fan experience through the use of data and technology,” said Jason Sukhraj, SVP US Advertising and OTT, Sportradar. “Collaborating with the SportsGrid executive team provides us with the platform to mesh our core competencies around betting with their programming talent and address the increasing demand for information and content geared around sports gaming  ”

The partnership incorporates Sportradar’s release of ad:s, a service that provides bookmakers with a host of marketing solutions aimed at eliminating waste and streamlining their marketing spend. This new offering will allow bookmakers and brands looking to reach the betting community, a native opportunity to do so through sponsorship of programming as well as targeted ad spends across video & audio inventory.

SportsGrid President Louis M. Maione stated, “The integration of Sportradar data and technology into our content is game changing for our free twenty-four hour audio and video gambling network. This partnership showcases our combined vision of delivering the true convergence of content, data, and gaming to the millions of sports fans craving this informative and entertaining programming. Joining forces with Sportradar instantly affords SportsGrid with the ability to provide unquestionable best of breed sports wagering programming. Additionally, Sportradar’s delivery of a robust video solution ensures our content is placed where fans want to consume it, stamping our foothold as a market leader in the space.”

 

 


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: Sportradar And SportsGrid Announce Exclusive Partnership To Launch The First Free, 24-hour Sports Betting Network

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Gambling Revenue of New Orleans Increases in March

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6-8 Gambling Revenue of New Orleans Increases in MarchReading Time: 1 minute

 

The New Orleans gambling market has posted a positive performance in March. The casino winnings in the city were up 5.6%.

Gambling revenue in New Orleans is up from US$56.7 million to US$59.9 million. The casino with the biggest gain in March is Harrah’s, achieving almost US$29 million in winnings. These results represent an 8% increase from the US$26.8 million that the facility registered last year.

The three riverboats posted a 3.7% gain in revenue to US$26.3 million from March 2018’s US$25.4 million. Boomtown New Orleans registered a 5% increase to US$11.7 million, while the Amelia Belle had a 4.5% gain to US$4.4 million. Treasure Chest posted a 2% increase to US$10.3 million.

Casino winnings in Baton Rouge decreased 13.8% year-over-year in March and continued a losing streak. The three riverboats decreased winnings once again and registered US$23.6 million in March.


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: Gambling Revenue of New Orleans Increases in March

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