G2E: AGA Boss Sees Bright Future for Gaming Ecosystem
At the Global Gaming Expo (G2E), now underway in Las Vegas, Bill Miller, President and CEO of the American Gaming Association (AGA), spoke optimistically about the future of the gaming industry. Overall, he sees more positive changes coming to the ecosystem.
The entrance to the 2024 Global Gaming Expo at The Venetian in Las Vegas. (Source: American Gaming Association)
LISTEN TO THIS ARTICLE:During his keynote address, Miller emphasized the ongoing growth in the sector, driven in large part by changing demographics and evolving entertainment preferences. He pointed to a notable shift in the average age of casino patrons, which dropped from 50 in 2019 to 42 today. This shift highlights an emerging trend that is shaping the future of gaming, with younger generations playing a key role in the industry's trajectory.
Related: New American Gaming Association Data Shows RG Focus Improving in the USMiller highlighted that Millennials and younger members of Generation Z are now crucial to the growth of the gaming industry. These two generations, which represent a large portion of the global workforce, are expected to make up four out of five workers globally within the next five years. Their preferences and expectations are transforming the gaming experience, and as a result, casinos are adapting to appeal to this younger demographic.
When the COVID-19 pandemic began to recede, it was this group that was eager to return to in-person entertainment venues, including casinos. They sought out experiences that aligned with their interests, and casinos provided a suitable environment for that type of engagement.
As a result, the gaming industry has begun to innovate and create experiences that align with what younger consumers are familiar with. Miller noted that the industry has started developing casino games that mirror the video games Millennials and Gen Z have grown up playing. By offering more interactive and engaging options, casinos are ensuring that they remain relevant and attractive to these younger audiences, who expect a dynamic and immersive experience.
Sports Helps Build Gaming Success
In addition to the changing demographics, Miller identified two other significant trends driving the industry forward. The first is the integration of sports into the broader gaming ecosystem. Las Vegas serves as a prime example of this trend, having become a hub for major sporting events and franchises.
The city has hosted championship-winning seasons from the NHL's Golden Knights and the WNBA's Aces, welcomed the relocation of the NFL's Raiders, and is preparing for the arrival of MLB's Oakland Athletics. Miller emphasized that Las Vegas is transforming into a destination for world-class sporting events, including the upcoming Super Bowl and Formula 1 races. This shift is part of a broader movement toward integrating sports and gaming into a cohesive entertainment experience, providing fans with a more immersive ecosystem.
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The third trend Miller pointed out is the gaming industry's increasing focus on responsible gaming measures. He explained that the gaming industry has earned public trust through its commitment to promoting responsible practices, which in turn has facilitated its rapid expansion.
Unlike illegal operators, Miller emphasized that the legal gaming industry operates transparently and contributes to local economies by paying taxes and providing economic support to communities that other industries may have left behind. He explained that the AGA has made responsible gaming a top priority and that all of its members are committed to promoting safe and responsible gaming environments. This includes training employees to prevent underage gambling and ensuring that advertising is done in a responsible manner.
iGaming Sector Facing Challenges
Miller acknowledged the ongoing challenge posed by illegal gaming operators, who do not adhere to these same standards. These operators continue to operate outside the law, failing to protect consumers, and they do not contribute to local economies in the same way that the regulated gaming industry does.
However, Miller also pointed out that the legal gaming industry is taking steps to address these challenges by leveraging new technologies. These innovations include enhanced geolocation protocols, improved age verification methods, and systems to identify at-risk behaviors among players. These efforts are part of the industry's broader initiative to promote responsible gaming and ensure that consumers are protected.
According to Miller, the gaming industry invests nearly half a billion dollars annually in responsible gaming initiatives. This substantial investment has resulted in the availability of more resources than ever before for those who may need help.
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