Exhibits at the Global Gaming Expo in Las Vegas opened Tuesday morning at The Venetian Expo, with thousands of attendees hitting the trade show floor to learn about the latest developments and technologies in the gambling industry. Moreover, the day featured expert discussions on the state of the industry, which included renowned sector executives.
In addition to featuring the most exciting innovations within the sector, the exhibition day was marked by an energetic and large crowd of attendees – not surprising given the current G2E edition (Oct. 10-13) is the first fully in-person one since the pandemic. The event was held virtually in 2020 amid Covid-19, while 2021’s “hybrid” show brought 13,000 people, much less than the average of 27,000 from previous editions.
However, the major gambling expo now seems to have returned to form. While AGA hasn’t said how many conventioneers will be on site this week, before its official total is published, early estimates on the show’s website suggested at least 18,000 attendees are expected: not quite the same as pre-pandemic, but getting closer.
Exhibitors felt the change in energy at the expo hall, where hundreds of people awaited to register early in the morning. Additionally, expectations are high from a technology standpoint, with exhibitors ready to showcase two years’ worth of innovation to customers who may have missed recent shows. These include the latest in slot machines, cashless gaming, hospitality solutions, and more.
Miller calls for illegal gaming crackdown
The trade show floor opened after a keynote address by American Gaming Association CEO Bill Miller. The executive said the biggest issue facing the industry is the illegal operation of unlicensed websites and gaming machines, remarking the legal sector’s future depends on tackling its “biggest threat”: the illegal and unregulated market.
“Illegal and unregulated websites and machines pose a direct threat to our industry’s hard-earned regulatory licensed operators,” he said, as reported by Las Vegas Review-Journal. “They prey on customers, especially the vulnerable and the underaged. They don’t provide any consumer protections or invest a dime in responsible gaming.”
According to Miller, $300 billion is illegally bet annually, resulting in a loss of $15 billion to legal operators and a $4 billion loss in gaming taxes. In addition to calling for more efforts to fight unregulated gambling, the AGA boss also encouraged the industry to embrace digital innovation within the sector and to focus more on responsible gaming.
“Online gaming, whether it’s sports betting or iGaming, is our fastest-growing segment,” he said, as per the cited source. “Payment modernization is well underway and new technologies continue to emerge. The truth is, oftentimes they raise more questions than answers, but that has never stopped this industry before.”
CEOs tackle the present and future of gambling
Tuesday’s keynote sessions also featured Derek Stevens, owner of downtown Las Vegas’ Circa; and Craig Billings, CEO of Wynn Resorts. The casino heads said they are happy with the record-setting Southern Nevada industry rebound, although they admitted they remain wary of economic uncertainties that could potentially hinder this growth.
Billings said he’s been delighted with Las Vegas’ results, stating the city does “very well” in finding additional sources of demand as the tourism economy is yet to fully recover. His company has seen record average daily room rates, and excellent occupancy and food and beverage results, he noted.
As for Stevens, he indicated he wasn’t sure Circa, which opened in 2020, could be built today under existing economic conditions, conceding one would have to be “more conservative today” than three years ago. “The market is tight and labor is affecting food and beverage operations,” he noted, as reported by Review-Journal.
Stevens further said he doesn’t believe inflation will be transitory: “There’s going to be some built-in inflation that’s going to last for quite a little while,” he stated. Both him and Billing also named safety, cybersecurity and water resources as other big issues facing Southern Nevada.
Stevens and Billings were among six CEOs interviewed onstage by CNBC anchor Contessa Brewer. The “Executive Outlook: Leaders Shaping the Future” event also featured Bally’s Corporation Chairman Soo Kim and PENN Entertainment CEO and President Jay Snowden, who covered regional casino trends and growth.
But much of the attention was focused on FanDuel CEO Amy Howe and DraftKings Co-founder and CEO Jason Robins, who dived into the future of US iGaming and sports betting. Robins said he doesn’t expect online sports betting to become legal in California this year, adding that it “more than likely” will pass in 2024.
Robins said it’s been hard to drum up support for Proposition 27 –an operators-backed ballot initiative running against Proposition 26, a tribal proposal that seeks to legalize retail sports wagering in tribal lands– ahead of next month’s vote given opponents are spending millions on advertising. Howe agreed with Robins’ take, also forecasting legalization for next year.
The event continues today, Wednesday, with more action on the show floor and more discussions. The “Betting On Your Brand: A Conversation with Erika Ayers Nardini” session will feature Barstool Sports CEO Erika Ayers Nardini; while “Changing the Playbook: How Sports are Evolving with Gaming” features Las Vegas Raiders President Sandra Douglass Morgan.
G2E 2022 – Visitors and exhibitors
