CEOs bullish about gaming’s prospects

A bullish prognosis is demonstrated by gaming CEOs towards the industry’s current business situation, says the American Gaming Association.

Many industry leaders, says the association, are expressing confidence about future conditions, despite concerns about the economic environment.

The AGA’s Gaming Industry Outlook, presented in partnership with Fitch Ratings, said that 68 per cent of all executives surveyed had indicated that the present business situation is good, while 28 per cent said it was “satisfactory.” One-third, or 38 per cent, said that they expect future conditions to be even better.

“Our industry remains cautiously optimistic – and has weathered this volatile economy – because of resilient consumer demand,” said AGA CEO Bill Miller. “Looking ahead, future consumer confidence and spending remain an outstanding question for our continued growth.”

Despite strong annual revenue numbers to date, macroeconomic factors are tempering the future outlook for the gaming industry. While concerns have eased from earlier this year, two-thirds of gaming CEOs named supply chain issues as a factor limiting operations (65 per cent), followed by inflation and interest rate concerns (62 per cent).

Half of executives also identified the uncertainty of the economic environment and shortage of labour as impediments to business growth.