These are
some of the takeaways of the SBC Digital North America, an online event that
was held June 9th and 10th. I Gaming and
Sports Betting are moving the needle in the Gaming and Casino Industry. While
there will always be a need for a land base casino hotel, there is a need for
the convenience factor that playing online gives to a player. The mobile apps
that replicate the brick-and-mortar facilities will resonate with the existing
customer. The use of
Social Media is a great opportunity to engage with your clientele and attract
new patrons. Using push notifications and tweets that give information are ways
that have the public interested in your promotions, if sent at the right time as
well as to the right customer. Innovation
will separate successful operators from the masses. I
participated in two panels at the SBC. The 1st was From the Gaming
Floor to Online Slots: Harnessing the Omnichannel Opportunity. I was able to
share my expertise in casino operations and how important the loyalty program
is. I suggested that the digital wallet program and the brick & mortar
should work together. This will keep the player with your organization longer
because you are working collaboratively to fulfill their needs. This type of
marketing will ultimately increase the lifetime value of the player to your
organization. The second
panel address the careers in gaming and sports betting. I was on this panel
with George Diemer, associate professor at Temple University. George and I
concurred about internships, regulation, and responsible gaming. The industry
could be doing more to increase our labor pool and alleviate employment
concerns. An increase in flexibility regarding shifts and hours should be a
consideration.
I plan to do my part to help in a recruitment endeavor. I will
be going to colleges and universities this fall to advocate what gaming has to
offer. I will also have at least one video per month that highlights a job that
a college student or job applicant with an aptitude for learning could fulfill.
I will not limit my scope to jobs just in one region because of the size and
growth of the gaming industry. If there are any casinos that are having recruitment
and retention challenges, reach out to me and I will highlight the position that
you are trying to fill.
Follow me on Twitter where I discuss #sportsbetting and #gaming entertainment. Check out my articles in Bettors Insiderand in the January edition of Igaming player.
Many of us have recently recieved stimulus money from the federal government.This is also income tax season. There will be millions of Americans entitled to tax refunds. If you are in a position to speculate on the stock market, the stimulus money and /or the income tax return can jump start that initiative. Looking for reasons and an industry to invest in? Read more!
The economy is slowly returning to Pre Covid levels. Restaurants are expanding their capacity and hours of operations. Casinos are allowing food and beverages to be served in gaming areas. Alcohol has returned to the pit table games. The states are looking to expand revenue options thru gaming.
Sports Betting and online gaming are two popular concepts that have been adopted by as many as 22 states presently. This is the ideal time to look at investing opportunities in gaming and sports wagering companies.
I look for stocks based on affordability and profit magin. I research what the price is presently and look at the historical trends of the stock. If a stock is trading at $25 and a year earlier had a purchase price of $50, I see a potential growth. I will look at the business plans of that company and determine if they are a good buy. I also set a price that I would be content to sell the stock at. If I bought 100 shares at $25, I would be happy to have the stock reach $35 a share. Contrastly, I have a depreciation price where I would sell and cut my losses. If the stock goes under 20 and has never done that in a 3 year period, I will sell and look to start again with another stock.Looking for the hottest deals and best gaming stocks? continue reading after the video.
Draft Kings: The current price is $48. The median expected price in the next 12 months is $75. It has a high estimate of 105 and a low of 41. Draft Kings made a recent acquisition of VSIN Network. “VSiN creates authentic and credible content that resonates with sports bettors at every level, whether they’re experienced or new to sports betting,” said Jason Robins, DraftKings’ co-founder, CEO and Chairman of the Board. CNN Money grade this stock as a buy.
Penn National Gaming: The current price is $86. The outlook for Penn National is good because they own Barstool Sports. Barstool is presently in 3 states and projecting to be in as many as 10 by the end of the year. The Street's Jim Cramer gave Penn a definite buy on 5/7/21. Jay Snowden,CEO of Penn National Gaming, expess optimism because of Barstool approach to player acquisition and the reopening of the economy.
Rush Street Interactive: RSI rang the opening bell on Wall Street on 1/5/21.The current price is $13. The recent moves by Rush Street are the signs of encouragement. Rush Street was nominated for the Operator of the Year by the EGR Awards for 2021. Then the announcement of Lauren Seiler as Associate Vice President of Investor Relations and Development. She brings expertise in i-gaming,sports wagering, land based operations and finance. BetRivers.com is thriving in Pennsylvania and is postioned in several new jurisdictions. Growth opportunity at the current price.
Several sports and gaming stocks have made major acquisitions. Caesars Entertainment acquired William Hill within the last two weeks.MGM Grand with it's sports betting app, Bet MGM ,have stated they are in the top 3 in the each of the markets where the platform is available. Fan Duel or Flutter Entertainment is a definite watch because of the name recognition of the brand. PointsBet has extended into a partnership with Penn National that will include 7 states.
There are several prominent companies that are not mentioned. You should take time to research the gaming ,sports betting and i gaming industries to find the best buy for your buck. There is a synergy between the three that offers value to the stock holder. I hold shares of several of the companies mentioned in this post.
Follow me on Twitter where I discuss #sportsbetting and #gaming entertainment. Check out my articles in Bettors Insiderand in the January edition of Igaming player.
I want to share some exciting news about my plan to expand my engagement on Twitter. At the start of the NBA shutdown due to COVID 19, I started a doing a twitter chat 3 nights a week. The conversations included sports, sports business and sports betting. It was expanded to include music from contemporary artists and delve into their music catalogues. The audience grew exponentially over the 4 months and expanded to cover both the east and west coast. The chat achieved approximately 30,000 impressions during the ESPYS on June 21st.
Since sports have returned the format has changed. The conversation or threads can't last as long in the evening because the games are rightfully taking center stage. A mid day version of the chat was added to engage the audience longer. This addition captured positive results. With the NFL coming in two weeks, it makes sense to expand the coverage, Start on September 1st, the chat will be on 4 nights. Those nights will be Sunday, Monday, Tuesday and Thursday. A mid day version will happen on each of the aforementioned days of the week with Wednesday included at noon.
The night chats will start at 7:30 prior to an NFL game. The conversation before any other game(NBA,MLB,NHL,WNBA or Tennis) will start 30 minutes before the contest. There will still be polls that will gauge your opinions, questions that pertain to your sports betting selections and data that will help you make an informed decisions. We also highlight our followers by sharing their tweets and applaud their creativity when they include a GIF. On Thursday, there is a women in media segment that spotlights the achievements of female athletes, reporters and business executives. On Fridays, we will still do Shout Outs and #FF. If you follow we follow back.
Nkeshi Free
The chat are cohosted by Nkeshi Free. She adds the creative side to the collaboration and is knowledgeable in all sports. Her twitter handle is @KeshisCuties. My twitter handle is @GamingguyM.
Tuesday is the #GTLHottopics day. All other days we use the #GTLivechat.
You can get updated information at smartresponsiblegaming.com
We decided to look at what I Gaming will do for the casino patron. Most times we look at new products from the house perspective. But I Gaming will be prevalent in Pennsylvania.New Jersey has shown outstanding numbers and trends upward every year since it's inception. Pennsylvania should do the same.
So how does this benefit the players? It will make gaming more convenience than ever. The fact you can play whenever you want at whatever minimum you want. The restriction will be that you must be within the state boundaries.
Another benefit to the players are the promotional aspects of playing online. Since the product is not as labor intense, the marketing associated with I Gaming will be considerably liberal. This will induce play.
Lastly, casino players will have an opportunity to play at sites that are not geographically close to them. If a patron enjoy the I Games that are offered at a casino that is more than an hour ride from their home,they can play on that site and join their rewards club. They can build a relationship with that operator and monitor the gaming entertainment lineup. They can position themselves for discounts and seats that only the online patron is eligible to receive.
The takeaways from the #ECGC22 involved Sports Betting, I Gaming and Esports. We will give our overview of each.
Sports Betting is the hot button because everyone wanted it. The framework should be uniform but that would take at least 3 years to put in place. The bottom line is no one makes a ton of money from betting on games. You are only as good as the last bet you take or make. A reasonable tax rate and model will make it appealing and profitable. If rate is too high no one will implement it. So states that have a rate similar to Nevada and New Jersey will do well. Mobile should be part of the package along with in game wagering.
I Gaming is the future of casinos. Everything in the social and wagering for money aspects of casino is trending toward an online experience from the phone to your PC. It works with retail so it will work with gaming. The statistics support it and the profit margins offer a great opportunity to expand your gaming brand.
Esports is the girl or guy in the room that you want to ask out on a date but you don't know how. Operators must find how you can make it work and that by just doing it. Trial and Error will show if this works for your organization or not. The amount of money invested in Esports Teams is an indicator that some wealthy and intelligent people see a future in gamers. There is a faction that is considering have Esports as part of the Olympics within the next decade. So Esports is definitely worth a look.
Pennsylvania Gaming Expansion has an extremely high rate of taxation for I Gaming. While the rate for table games and fantasy sports are moderate and in the teens, the legislature took a more aggressive posture with slot play. The tax on slots for casino operators is at 54%. While this matches the amount that brick and mortar facilities pay presently, it is high for a online situation. The initial thought is that will diminish interest in the product.
Our take is a resounding no. It is too large an upside not to take part of. We will share one creative way that intelligent operators can find success in the I Gaming world. Look at the compact agreement that Delaware, New Jersey and Nevada have. They can share players and increase liquidity. Imagine the entire Commonwealth of Pennsylvania added to such an agreement. The monetary upside would be worth the cost of investment.
If you want more shrewd ways to build your online experience as an operator or a player, you can reach out to us.
The G2E 2017 will start in less than one month. This is the largest and most renown gaming conference. We are attending and would strongly suggest it to you. We will offer three reasons.
The 1st is the network opportunities. You will connect with the top executives in the world and learn what they see as being the next big thing.
Greg Carlin,David Cordish and Jim Allen
Gamblit Gaming
The 2nd reason to come to the G2E is to expierence the tradeshow and exposition hall. Every new game,innovation and concepts is covered. In order to stay relevant, you have to know what vendors have to offer and determined if it is right for your clientele. Skill base games should be on everyone must see list.
Blaine Graboyes- CEO of GameCo
The 3rd is the educational seminars that have information about all facets of gaming. We are focusing on the hot topics of 2017. They are E sports, sports betting and I gaming. You can follow us as we live tweet from each of these modules. If you decide to attend after reading this post, let us know through social media and we will mention you.
We predicted this at the being of the year so this comes as no surprise. Check out our bold predictions for 2017. So let's look forward to what the expansion means to you.
You will be able to play casino styles game legally online The same games that you play at a brick and mortar facility will now be on your mobile device and your computer. This is comparable to shopping at Macy's in Cherry Hill and ordering the same items from your house. You save time and money while getting what you want.
You can play video terminal games or slots in places like bars,airports and OTB sites. While this will detract from the current slot revenue that casinos have, it will give a added appeal to local small budget establishments. We see regulation concerns that should be addressed.
Fantasy Sports Wagering will be part of the gaming industry. If you enjoy fantasy sports similar to US Fantasy in Nevada and Colorado then you can have those same experiences in the Commonwealth. This will create marketing and job opportunities.
Pennsylvania is looking at a budget shortfall of approximately 3 Billion dollars. This won't fix it but with taxes, jobs and license fees, this is a step in the right direction.
The countdown is now at 3 days for the G2E 2016. This is what we plan to do. In addition to our prior G2E commentary, we will submit a mention of events or vendors at the conference. In order for us to promote your organization, just have your business card and a brief description of what service you provide. At the end of each day, we will post your contact info. The vendors and operators that have the more innovative products that would appeal to a diverse market will get featured through our Instagram page. So if you want to expand your audience, we should get acquainted. One of our interviews from G2E 2015 is shown below.
"This industry offers plenty of opportunities for growth if you do it properly and sustainably"
This week, the Pennsylvania House of Representatives passed a preliminary bill to expand gaming.
This expansion will include IGaming, Daily Fantasy Sports and slot machines at airports.
This is what online gaming enthusiast have been waiting for.Pennsylvania need the revenue and the public demand for gambling online is increasing every year. While the projected revenue varies, it will be at least 9 to 12 months before implementation. The next step is the bill moving to the Pennsylvania State Senate. While nothing is guaranteed, I like the chances of this passing.
New York made headlines with a reversal. They authorize Daily Fantasy Sports just months after issuing a ban on FanDuel and DraftKings. The following is an except from Sports Illustrated.
"Indeed, this was the reason for the cease-and-desist orders in 2015. Now, however, amended laws will seek to bring clarity to the matter. The full bill can be found here. Crucially, it alters the state’s gambling laws to include “regulated interactive fantasy sports contests with an entry fee.”
