Gaming CEOs bullish on future growth

The American Gaming Association’s newly-launched Gaming CEO Outlook shows confidence in expanded industry growth, with almost half of AGA-member CEOs expecting improved business conditions into 2022.

Participating CEO positivity is driven by anticipated increases in new hiring (71 per cent), wage growth (63 per cent) and capital investment (39 per cent).

“AGA’s inaugural Gaming CEO Outlook reflects the strength of our recovery and consumer demand for our world-class entertainment offerings,” said Bill Miller, AGA president and CEO.

“The promising outlook is built on our innovation, but like many industries, supply chain and worker shortages continue to slow our full recovery.”

While the overall outlook is positive, challenges remain. More than two-thirds (71 per cent) of CEO respondents cited supply chain issues as a factor limiting operations.

Labour force shortages (63 per cent), consumer health concerns (46 per cent) and lagging meetings and events demand (38 per cent) are also widely cited as impeding short-term growth.

The Gaming CEO Outlook, prepared for the AGA by Oxford Economics, provides a snapshot of the current and future economic health of the industry based on executive sentiment, employment, casino visitation plans, gaming revenue and other key economic indicators.

The results are informed by a survey of AGA member CEOs and executives representing equipment suppliers, casinos operators and sportsbooks.

“We are a more resilient industry because of the Covid-19 pandemic,” said Aristocrat Technologies CEO and AGA chairman Trevor Croker.

“As the gaming industry looks to 2022 and beyond, our impressive recovery will continue to create jobs, support communities and generate needed taxes.”