According to the latest casino news, chief executives of major casino and sportsbook companies as well as gaming equipment suppliers are confident about the future of American gambling. The information was shared by AGA as a part of its Gaming CEO Outlook research project.
The study reflects the current state and future perspectives for the industry and was conducted by Oxford Economics. The info was gathered by surveying the top management of 24 gaming companies and looking into gross gaming revenues, employment, and other key factors.
Chief executives are positive about new hirings and investments
The outcome of the Chief Executive Officers survey confirms the strong position of American gambling in Q3 2021. 54% of respondents described the current situation as good and 46% stated it was satisfactory.
Results of the research also show that almost half (48%) of CEOs in the gambling sector expect continuing growth of the industry in 2022. 71% of respondents predict a rise in new hires, while 63% count on an increase in wages, and 39% and 33% percent of surveyed CEOs expect a boost in capital investments and revenues respectively. Hotel and food and beverage areas of casino venues are believed to receive the biggest share of investments over the next year, while 43% of gambling ops are going to invest in slot machines.
The Gaming Outlook research also targeted gaming equipment suppliers and showed that three-quarters (75%) of CEOs anticipate higher investments and sales in this branch of the gambling industry.
At the same time, heads of businesses are concerned about several factors that may slow down the recovery of the American gambling sector. The main issues that worry gaming CEOs are:
- delays in the supply chain (71%);
- shortage of labor and skilled labor (63% and 54% respectively);
- health and safety-related concerns of the players (46%);
- and other.
All mentioned above demonstrates that the American gambling industry is on the way to recovery and is up for a strong start to 2022.
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