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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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MGM Ends the Talks to Buy Encore Boston Harbor Casino Resort

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9-11 MGM Ends the Talks to Buy Encore Boston Harbor Casino ResortReading Time: 1 minute

 

MGM has ended the talks with Wynn Resort to buy the Encore Boston Harbor Casino. The nearly finished property and Wynn Resorts as a whole were roped in a scandal of massive proportions that stemmed from multiple sexual misconduct allegations leveled against the casino operator’s ex-boss and founder Steve Wynn.

MGM said in a statement that they “have noted the anxiety raised by various stakeholders regarding a transaction” and that they think “the best course of action is to discontinue discussions” concerning the opportunity to buy Encore Boston Harbor. The statement further read that the company wishes to have “a positive impact on communities in which we operate.”

Wynn Resorts said in a statement that it has agreed to cease discussions with MGM “after careful consideration.” The company added that it is committed to opening and running the 671-room hotel and casino resort located along the Mystic River in Everett.


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: MGM Ends the Talks to Buy Encore Boston Harbor Casino Resort

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Genting Completes the Refurbishment of Luton Casino

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8-11 Genting Completes the Refurbishment of Luton CasinoReading Time: 1 minute

 

The Genting Group has completed the £750,000 refurbishment works on the Luton Casino. The refurbishment work has been done to make the gaming experience better for visitors. As such, the company worked on remodeling and adding new amenities to the venue including additional facilities at the bar and lounge areas.

Refurbishment includes the increase in gaming space to host additional gaming machines. The number of slot machines at the property has also increased from 28 to 40. New electronic terminals have also been installed.

“We are all incredibly proud to unveil our brand-new refurbishment. We are confident that the changes will offer our valued customers an improved gaming experience, and we are particularly excited about the new poker offering. Customers looking to socialize and meet up with friends at the casino can also enjoy the newly refurbished bar and lounge areas,” James Harvey, general manager at Genting Casino Luton said.


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: Genting Completes the Refurbishment of Luton Casino

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BetMakers Signs Deal with Betgenius

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7-10 BetMakers Signs Deal with BetgeniusReading Time: 1 minute

 

Global Betting Services, the wholly-owned subsidiary of BetMakers Holdings Limited, has entered into an agreement with Betgenius Limited, the global wagering technology company, for the distribution of its complete racing solution.

Betgenius provides services to over 150 licensed bookmakers in regulated markets around the world with its premium sportsbook management solutions, which includes live data and outsourced trading for pre-match and in-play betting.

The Agreement provides Betgenius customers with access to rich horse racing data via eventlife cycle information, BetMakers’ proprietary fixed pricing and enhanced data packages for around 250,000 races per year includes content from the UK and Ireland, Asia, Australasia, and North and South America.

“Betgenius is a world-wide leader in providing B2B solutions to wagering operators for their sports offering. We are delighted they have chosen BetMakers for their racing solution to offer their clients. This deal allows us to accelerate our racing product and pricing into a range of wagering operators globally and we believe it gives Betgenius clients the best horse racing product in the market, to sit alongside their already established sports services,” CEO of BetMakers, Todd Buckingham said.

“We are always striving to give our partners simple access to high quality content that will drive their turnover and margin, and this deal with BetMakers does exactly that,” Matt Stephenson, Global Partnerships Director at Betgenius said.


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: BetMakers Signs Deal with Betgenius

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