The grandpa who learned to love Zoom-reading bedtime stories or the mom who became a telecommuting wiz might help brighten iGaming’s future.
Their rapid acceptance of long-distance interaction amid the coronavirus pandemic, plus the need to cover massive governmental costs of the ensuing economic collapse, could persuade casino critics to reconsider their views, says an organizer of a free webinar that will examine “iGaming in the COVID-19 Era.”
As states search for how to regain their pre-pandemic economies, “this is going to give an opportunity for all stakeholders to relook at things,” said Robert Russell, senior gaming analyst for Regulatory Management Consultants, based in East Lansing, Michigan. “In a COVID-19 era, is it a benefit from taxation collection as well as job support to have an … (iGaming) component?”
Russell’s firm, along with The Innovation Center and Global Gaming Business magazine, are sponsors of the webinar, which will be from 2 to 3 p.m. EDT Thursday. It is open to anyone in the gaming industry, with registration available here.
Roger Gros, publisher of Global Gaming Business, will moderate. Panel members are:
- Sue Schneider, vice president for Growth and Strategy/Americas, Sports Betting Community (SBC)
- Dermot Smurfit, CEO of GAN, a top supplier of online gaming, sports wagering, and social gaming platforms
- Kresimir Spajic, CEO of Hard Rock Interactive
This will be the fourth session in a series titled “Gaming in Crisis: The Path Back.” The first, on April 16, focused on the $2.2 trillion federal CARES Act, which aided businesses and workers. The other two sessions examined issues involved in reopening casinos and the pandemic’s impact on tribal gaming. Replays of those are available at the registration link.
New Jersey, Pennsylvania, and Delaware are the only states currently allowing online casino gaming; Nevada permits online poker and online sports betting, while eight other states limit their online betting to sports.
Online gaming revenue in New Jersey and Pennsylvania increased substantially between January and March, the latest figures available. New Jersey was up by 18 percent, to $64.8 million, and Pennsylvania was up by 55 percent, to $12.3 million.
Russell said stay-at-home orders contributed to that but weren’t the only reason.
“We’ve been seeing an increase in player acceptance of the iGaming platform,” he said. “Potentially, what the quarantine has done is provided a generation that maybe hasn’t felt comfortable with technology to embrace it. That is permitting them to find the comfort of iGaming.”
Even though this is an election year, Russell said some states will look at iGaming as part of the discussion of how to raise additional tax money. Indiana, for example, had success with online sports wagering before the pandemic shut down all athletic events.
“I think (iGaming) will be added to the discussion when they’re looking at ways to fill the gap in these state budgets from California to New York,” he added.
Casino operators in states without iGaming still could benefit by offering free-to-play online games, he said.
“iGaming is a way to broaden your reach to consumers and bring them into the true one-of-a-kind entertainment experience that only exists in a land-based casino,” he said. Operators should consider whether social games or other technologies could help them compete with other businesses seeking to capture a share of the discretionary spending that will increase as the coronavirus restrictions fade away.
The webinar series, expected to continue into the fall, comes from a collaboration involving Gros, Innovation Group President Michael Sol, and Russell. Future topics could focus on lessons from casinos that reopen or the best practices in a post-pandemic environment.
“There’s going to be a lot to talk about. News is evolving week by week,” Russell said. “We all have questions and bringing them to the surface is the goal.”
