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Leading Trade Groups Announce Partnership to Address Issues Facing Global Gaming Industry

Three of the world’s most prominent trade groups representing the interests of gaming operators in the United States, United Kingdom, and Europe have announced a pact.

gaming trade groups AGA American Gaming Association
(L to R) Graine Hurst, CEO of the Betting & Gaming Council, American Gaming Association President and CEO Bill Miller, and European Casino Association Chair Erwin Van Lambaart sign a pact to collaborate on addressing issues facing the global gaming industry. The landmark memorandum of understanding was signed at the 2024 Global Gaming Expo in Las Vegas on Oct. 9, 2024. (Image: American Gaming Association)

On Wednesday, the American Gaming Association, the UK’s Betting & Gaming Council, and the European Casino Association announced a memorandum of understanding that marks the beginning of a cross-Atlantic collaboration to share industry values and priorities. The three organizations each committed to addressing key matters facing the global gaming industry, including ongoing efforts to stop illegal gambling and promote responsible gaming, innovation, and casino security.

This new partnership is a significant step forward in our collective efforts to advance the legal gaming industry and protect consumers around the globe,” said AGA President and CEO Bill Miller. “By sharing our unique resources, we will expand our fight against illegal gambling to new fronts, work together to strengthen responsible gaming, and innovate around business best practices.”

The collaborative announcement came during the Global Gaming Expo (G2E) that is currently being held at The Venetian Expo in Las Vegas. The event concludes today.

Research Focus

The three trade groups, which promote laws and regulations favorable to the casinos and gaming operators they represent, say their alignment will better foster the development of joint research and expedite the implementation of new best practices.

The first initiative, the groups said, will be a law enforcement roundtable in January 2025. The discussion will center on how illegal gambling impacts the regulated industry and puts consumers at risk.

The session will explore strategies to enhance cross-jurisdictional communication and the development of “actionable solutions” to address the challenges associated with illegal gambling, a statement regarding the collaboration explained.

Gaming Getting Younger

The global gaming industry is richer than ever before. In 2023, the US, the richest gaming country in the world, generated almost $110 billion in gross gaming revenue (GGR) from commercial and tribal gaming operations.

Gaming continues to expand worldwide. The United Arab Emirates’ forthcoming casino industry is projected to add up to $5 billion annually in new GGR, while new casinos in the Philippines, Vietnam, and South Korea additionally continue to open.

Macau’s COVID-19 recovery is ongoing. In the US, casinos continue to debut in jurisdictions like Virginia and Illinois, and the global industry’s eyes are heavily fixated on the impending integrated casino resort developments in New York City.

Miller said at G2E this week that the gaming demographic, at least stateside, is finally trending younger. After years of toying with new ideas, including electronic games that included skill elements, as millennials were thought not to enjoy slots nearly as much as their parents and grandparents, Miller says the industry’s innovators have finally found new ways to appeal to younger people. Sports betting has also helped.

A decade ago, the gaming industry was trying to figure out why we weren’t appealing to younger generations. The mantra back then was, well, we’ll get them when they’re 50,” Miller explained.

Miller detailed that the average age of a casino patron in 2019 was 50. Today, it’s 42.

“This is a huge shift,” Miller said. “It’s one that we need to keep driving to stay on the growth trajectory.”

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Wynn Resorts Secures UAE’s First Commercial Gaming License

UAE-issues-first-commercial-gaming-licence-to-Wynn-ResortsWynn Resorts has made history by becoming the first company to receive a commercial gaming license in the United Arab Emirates (UAE). On October 4, the General Commercial Gaming Regulatory Authority (GCGRA) granted Wynn the license for its ongoing project on Al Marjan Island, located in Ras Al Khaimah (RAK).

The license will allow Wynn to operate a land-based casino as part of the massive Wynn Al Marjan Island Resort, which is expected to open in 2027. This luxury development is a joint venture between Wynn Resorts, Marjan, and RAK Hospitality Holding.

In a statement, Wynn Resorts expressed gratitude to the GCGRA, saying, “We are under way with the construction of our resort in Ras Al Khaimah and look forward to being a key partner in the development of its tourism economy.” The company also thanked the GCGRA for the confidence and trust placed in them with the approval of this license.

A Major Milestone for Gaming in the Middle East

Wynn’s Al Marjan Island project will be the first integrated gaming resort in the Middle East and North Africa (MENA) region. Spanning over 62 hectares on a man-made island, the project is located just 15 minutes from Ras Al Khaimah International Airport and 45 minutes from Dubai. It will offer more than just gaming, with plans for over 1,000 hotel rooms, convention facilities, luxury shopping, and high-end dining options.

Craig Billings, CEO of Wynn Resorts, described Al Marjan Island as an ideal location for this landmark development, calling it a “pristine setting” for Wynn to deliver its signature luxurious guest experiences.

The project is set to boost Ras Al Khaimah’s tourism industry, with Abdulla Al Abdooli, CEO of Marjan, emphasizing that Wynn’s reputation for creating world-class resorts will help attract visitors to the region. Al Abdooli said, “We are partnering with Wynn Resorts, one of the world’s most renowned integrated resort companies, which has a strong track record of developing luxury destinations with exceptional accommodation, dining, entertainment concepts, and gaming facilities.”

Other Operators Eyeing Opportunities

Wynn’s milestone comes just weeks after MGM Resorts CEO Bill Hornbuckle announced that his company had filed for a license to develop a gaming project in Abu Dhabi https://news.worldcasinodirectory.com/mgm-resorts-leads-the-charge-for-casino-licensing-in-the-uae-application-confirmed-115267. Speaking at the Skift Global Forum in New York City, Hornbuckle revealed that MGM applied for the license on September 19.

With the UAE’s commercial gaming landscape expanding, more global gaming giants may soon enter the market. For now, Wynn Resorts is leading the charge, with its Al Marjan Island resort expected to set a new standard for luxury hospitality in the region.

A First for UAE’s Gaming Sector

The GCGRA defines commercial gaming as games that involve a combination of skill and chance, where players wager money or equivalents to win cash or prizes. Wynn’s license is the first to be awarded for a land-based gaming facility in the UAE. However, the GCGRA previously issued a license for the country’s first authorized lottery earlier this year.

Wynn Al Marjan Island’s non-gaming amenities are also set to impress, featuring over 1,500 rooms and suites, a collection of 22 dining and lounge experiences, a sprawling pool complex, luxury shopping, and state-of-the-art meeting spaces. The resort will be topped off by 2025, with full operations expected to begin by 2027.

Source:

Wynn Resorts Announces Receipt of Gaming Operator License for Wynn Al Marjan Island, press.wynnalmarjan.com, October 5, 2024.

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Industry’s Responsible Gaming Investment Surges to $472 Million in 2023

AGA-reveals-responsible-gaming-spending-reached-a-new-high-in-23Recent findings from the American Gaming Association (AGA) reveal a dramatic rise in responsible gaming (RG) investments across the gaming industry. The research highlights that industry spending on RG programs has soared to $471.8 million annually, reflecting a significant 72% increase from $275 million in 2017. This rapid growth outpaces the increase in gaming revenues over the same period and underscores the sector’s expanding commitment to responsible gaming initiatives.

The study, conducted by a major international accounting firm, provides insight into how gaming companies are allocating these funds. Key areas of investment include customer service interactions, the development of responsible gaming programs, consumer education on responsible gaming, and research into problem gambling.

Key Areas of Investment

The research identified several critical areas where responsible gaming investments have been focused:

  • Customer Service Interactions: $135.4 million
  • Development and Maintenance of Responsible Gaming Programs: $122.4 million
  • Consumer-Facing Responsible Gaming Education: $107.7 million
  • Responsible Gaming Research and Support for Non-Profit RG Organizations: $31.8 million
  • Problem Gambling Supportive Services: $26.1 million

Joe Maloney, Senior Vice President of Strategic Communications at the AGA, emphasized the industry’s proactive efforts, stating, “This impactful rise in RG spending demonstrates the legal industry’s dedication to fostering a safe and informed gaming environment. Beyond the considerable taxes gaming companies contribute to fund responsible gaming and problem gambling resources, the industry also proactively invests hundreds of millions of dollars more to ensure our customers have the tools, knowledge, and safeguards to play responsibly.”

Steady Commitment Amid Growth

The significant rise in RG spending has come during a period of growth and expansion for the gaming industry, particularly in the United States, where sports betting and iGaming have gained rapid legal footing in various states since the 2018 repeal of the Professional and Amateur Sports Protection Act (PASPA). This shift has led to heightened regulatory scrutiny and increased demand for responsible gaming measures to ensure that consumers can engage in gaming activities safely and responsibly.

In response, gaming operators have increasingly channeled resources into consumer education and responsible gaming infrastructure. The AGA noted that investments in RG have outpaced industry revenue growth over the past seven years, underscoring a strong commitment to safety and player protection.

Ongoing Initiatives and Research

September’s Responsible Gaming Education Month (RGEM) 2024 provided an opportunity for the gaming industry to showcase its dedication to responsible gaming practices. During RGEM, stakeholders launched various initiatives, campaigns, and public outreach programs to increase awareness of responsible gaming.

Additionally, the AGA introduced a new tool to enhance these efforts: the Responsible Gaming Intervention Effectiveness Scale. This innovative research-based tool is designed to help academics, industry professionals, and policymakers evaluate the effectiveness of responsible gaming messages. Maloney highlighted the significance of these ongoing efforts, remarking, “Our industry’s commitment to responsibility once again made RGEM a resounding success. We look forward to seeing the work done throughout this past month provide a springboard for continued advancements in responsible gaming in the months and years to come.”

Future of Responsible Gaming

As the gaming industry continues to expand across the United States, more jurisdictions are adopting frameworks for responsible gaming. In the U.S., most legal gambling jurisdictions require that tax revenues be set aside specifically for responsible gaming and problem gambling programs, which may include treatment services, educational campaigns, and other supportive initiatives.

However, with the current state-by-state approach to responsible gaming, challenges remain in creating a unified national framework. Some federal lawmakers have introduced bills aimed at developing comprehensive RG policies. For instance, the SAFE Bet Act and the GRIT Act propose allocating federal gambling excise tax funds to RG programs and tightening regulations on responsible gaming advertising.

As responsible gaming becomes more of a priority in the gaming sector, both industry leaders and regulators are seeking ways to balance industry growth with player protection. The AGA’s study highlights how industry-wide investments are helping to achieve that balance.

Sources:

Industry Investments in Responsible Gaming Reach New High of $472 Million Annually, AGA Study Shows – americangaming.org, September 26, 2024.

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Gaming Realms Reports Strong Interim Results for H1 2024, Driven by Content Licensing Growth

Gaming-Realms-Reports-18_-Revenue-Growth-and-Strong-H1-2024Gaming Realms plc, a leading developer and licensor of mobile-focused gaming content, has published its interim results for the six months ending June 30, 2024. The company reported significant growth in both revenue and profitability, driven largely by its successful content licensing business and key partnerships across North America and Europe.

The Board remains confident that Gaming Realms is well-positioned to capitalize on its growth trajectory and deliver further value to shareholders by continuing to expand into regulated markets and launching new content.

Financial Performance Highlights

For the first half of 2024, Gaming Realms achieved total revenue growth of 18%, reaching £13.6 million, compared to £11.5 million in the same period last year. This revenue increase was supported by strong growth in the content licensing segment, which saw a 28% rise to £11.2 million, making it the primary driver of the company’s growth.

By contrast, brand licensing revenues fell by 67%, contributing only £0.3 million due to the absence of major deals that had been completed during the same period in 2023.

Adjusted EBITDA also saw a robust increase of 21%, rising to £5.8 million and representing an adjusted EBITDA margin of 43%, up from 41% in the previous year. Excluding brand licensing, the company’s adjusted EBITDA grew by 46%, reflecting the operational leverage and efficiency within its core business.

Gaming Realms also reported a 51% increase in profit before tax, which reached £3.5 million, up from £2.4 million in H1 2023. The company’s net cash position increased by 28% to £9.6 million, underlining its strong cash generation capabilities.

Expanding Global Partnerships and Game Portfolio

During the first half of 2024, Gaming Realms launched with 22 new partners in key markets, including FanDuel in Pennsylvania and Connecticut, Fanatics in New Jersey and Michigan, and the Atlantic Lottery Corporation in Canada.

In Europe, new partnerships were formed with Solverde in Portugal, DAZN in the UK, and LiveScore in the Netherlands. These partnerships have solidified the company’s presence in regulated markets and supported its expansion goals.

Additionally, the company secured a full iGaming Supplier License in West Virginia, further enabling its North American expansion. A new distribution agreement with Playtech is expected to open up additional opportunities in Switzerland and the U.S.

Gaming Realms also released seven new games in the first half of 2024, increasing its total portfolio to 82 titles, up from 70 games in June 2023. Notable new releases include Slingo Capital Gains and Slingo Gold Cash, which have been well received by players. Unique players in the content licensing business grew by 24%, reaching 3.5 million, further highlighting the popularity of the company’s offerings.

Positive Post-Period Developments

After the reporting period, Gaming Realms has continued to experience positive momentum. Licensing revenues increased by 33% in the two months following the end of June compared to the same period in 2023. The company also launched content in West Virginia, its fifth regulated U.S. state, and received an iGaming Supplier License in British Columbia, Canada.

Gaming Realms expanded its presence in the European market by launching Slingo Originals content with Danske Spil in Denmark, and Betclic in Italy. Additionally, the company released new titles such as Slingo Press Your Luck and Slingo Phillies in partnership with BetMGM.

Outlook for FY24

Looking ahead, Gaming Realms is optimistic about its financial performance for the full year 2024. The company plans to build on its strong first-half performance by expanding into new international markets and strengthening its presence in existing ones.

CEO Mark Segal commented on the company’s performance, stating:

“We are delighted with our strong performance in the first half of 2024, with total revenue increasing by 18% to £13.6 million. Our focus on expanding our content licensing business has led to a 28% revenue growth and the successful launch of seven new games. These results reflect our commitment to innovation and solidify our position in the gaming industry.”

New game releases, including Slingo Fowl Play and Slingo Press Your Luck, are expected to drive further growth in the second half of the year.

Source:

“Gaming Realms announces its interim results for the six months to 30 June 2024”, gamingrealms.com, September 11, 2024

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Virginia Lawmakers Mull Formation of Gaming Commission Following Expansion

Virginia lawmakers in Richmond continue to study whether the commonwealth should form an agency dedicated to the regulation of commercial gaming.

Virginia Gaming Commission casinos parimutuel wagering
The Joint Subcommittee to Study the Feasibility of Establishing the Virginia Gaming Commission is seen in July 2024. Churchill Downs wants parimutuel wagering to remain under the regulatory scope of the Virginia Racing Commission. (Image: X)

Virginia has expanded gambling considerably in recent years to include up to five brick-and-mortar casinos with slot machines, live dealer table games, and sports betting. Virginia is also now home to online sports betting and slot-like historical horse racing machines that operate in parimutuel wagering facilities.

The Virginia Lottery oversees lottery gaming, casino activity, and retail and mobile sports betting. The Virginia Racing Commission regulates HHR gaming, horse racing, and parimutuel wagering.

A joint subcommittee of the Virginia General Assembly remains reviewing the feasibility of establishing a commercial gaming regulatory, which would be named the Virginia Gaming Commission. The body would regulate casino gambling, online sports betting, HHR wagering, and parimutuel facilities. The Virginia Lottery would return to only governing lottery operations.

The joint subcommittee is expected to make its recommendations to the General Assembly in January.

Consultant Recommends Formation 

During the joint subcommittee’s meeting on Wednesday, Brianne Doura-Schawohl, a consultant with her boutique Doura-Schawohl Consulting, LLC, recommended to the bipartisan panel to set aside funding for the establishment of the Virginia Gaming Commission. Doura-Schawohl said a central gaming regulatory agency is best at providing consumer protections, governing operators, and ensuring that the societal harms of expanded gaming are minimalized.

Doura-Schawohl said Virginia has an obligation to direct a percentage of its gaming tax for the research, prevention, treatment, and recovery of problem gambling.

The most comprehensive model to mitigate risk and reduce harm is a bifurcated approach between the state health agency and one central gaming regulatory agency,” Doura-Schawohl said. “The regulatory should be empowered to require and enforce stringent consumer protection provisions as part of licensure.”

Virginia, once among the most limited gaming states, is poised to become a big player in the US casino industry as retail casino resorts open across the commonwealth.

In January 2023, Rivers Casino Portsmouth became the first permanent casino to open in Virginia. Larger casino resorts are soon opening in Danville and Bristol.

Caesars Entertainment plans to open its $750 million integrated resort Caesars Virginia in Danville before the year’s end. Hard Rock International plans to open the $550 million Hard Rock Hotel & Casino Bristol this fall or winter.

Petersburg voters will decide whether to authorize a $1.4 billion mixed-use complex with an integrated resort casino this November. And the Pamunkey Indian Tribe continues to move forward with a more than $500 million casino project in Norfolk.

Churchill’s Opposition

Churchill Downs, Inc., which operates HHR machines in Virginia and is building The Rose Gaming Resort, a $460 million development, in Dumfries, is opposed to putting parimutuel wagering regulation under the scope of the proposed Virginia Gaming Commission.

Churchill, which also owns and operates the Colonial Downs Racetrack in New Kent, says other states that have moved parimutuel wagering regulation from a racing commission to a gaming commission have seen allocations to horsemen decline. The Kentucky-based company pointed to Michigan where in 1997 the Michigan Racing Commission merged with the newly formed Michigan Gaming Control Board.

Michigan’s once vibrant thoroughbred industry went from running over 1,000 races for $9 million in purses (2003) to ceasing thoroughbred racing,” Churchill’s presentation to the joint subcommittee detailed. “In 2003, there were 375 thoroughbreds foaled in Michigan and in 2022 there were four.”

Michigan’s final racetrack, Northville Downs, closed earlier this year bringing an end to Michigan’s horse racing industry.

“Given the nuances of parimutuel wagering, live horse racing, simulcast wagering, and advanced deposit wagering, Churchill Downs believes the oversight of historical and live horse racing should remain at the Virginia Racing Commission,” the company concluded.

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