June 7, 2017 5:11 PM
Here are a few of The Innovation Group’s takeaways from Juegos Miami last week:
- There is a push for regulation. Regulatory bodies are becoming more sophisticated and adding legitimacy to managing what has been a fragmented industry in much of LATAM. Gaming commissions are seen leading conversations on player safety, technology, operations best practices and optimizing revenues. This level of involvement also aids with the enthusiasm towards the development of integrated resorts that promote tourism to South American countries.
- The Brazilian forecast is still cloudy. While a dynamic political environment has slowed immediate development, there is still enthusiasm surrounding future casinos in Brazil. There is no concrete timeline, but regulation continues to be discussed. However, the delayed process is allowing more potential developers the chance to evaluate Brazil as an opportunity and to foster local partnerships. For market coverage, check out the Consumer & Market Reports section of our website to see our development updates.
- Focus is on bridging the generational gap. LATAM gaming operators are facing the same generational issues as seen in the industry globally. Gaming databases are trending older and millennials do not appear to be as motivated by traditional slots and table games. Online, social and skill-based gaming platforms as well as increased property amenities are being used to appeal to millennials. Operators have an opportunity to better understand and market to the younger clients by combining all of their internal systems, both traditional and digital.
- As markets mature, new technologies emerge. While emerging markets typically focus heavily on customer acquisition and revenue growth, existing gaming markets in LATAM are becoming more stable. Much of the conversation at Juegos revolved around iGaming, DFS, poker, and other nontraditional areas of market growth. These platforms provide channels to target a new customer base but also provide a wealth of data that can help operators understand the brick and mortar space as well. Regulation is in flux, and there is much debate about whether to work with some “gray market” operators to get them compliant – and if so, how. Our analytics team, Innovation Analytics – which helps operators in both iGaming and brick and mortar gaming maximize the value of their enterprise data – served on a panel discussing new technologies, best practices for data management, and how to leverage data to drive top-line growth and operational efficiencies.