In a recent press conference held in Las Vegas, gaming stakeholders once again refuted the fears of iGaming cannibalization in the traditional casino industry. The panel of experts, including top executives from major gaming companies, emphasized that online gaming and brick-and-mortar casinos can coexist and even complement each other in today’s digital age.
The debate over iGaming cannibalization has been ongoing for years, with some industry experts warning that the rise of online gambling could lead to a decline in revenue for traditional casinos. However, the panel at the press conference argued that the two forms of gaming cater to different demographics and can offer unique experiences that appeal to different types of players.
“One of the biggest misconceptions about iGaming is that it will cannibalize the revenues of brick-and-mortar casinos,” said John Smith, CEO of a major gaming company. “In reality, the two forms of gaming can actually work together to drive overall growth in the industry. Online gaming can reach a younger, tech-savvy audience, while traditional casinos provide a physical, immersive experience for players.”
The panel also pointed out that iGaming can help attract new players to the industry, as online platforms offer a lower barrier to entry for those who may be intimidated by the atmosphere of a traditional casino. By introducing players to the world of gambling in a more accessible way, iGaming can serve as a gateway to brick-and-mortar casinos and help grow the overall player base.
In addition, the panel highlighted the potential for cross-promotion between online and offline gaming channels. For example, players who earn loyalty points through online gaming platforms could redeem them for rewards at physical casinos, creating a seamless experience for players who enjoy both forms of gaming.
Overall, the panel emphasized that the key to success in the evolving gaming industry is adaptability and innovation. By embracing technology and catering to the diverse needs of players, both online and offline gaming channels can thrive and coexist in harmony.
As the press conference concluded, gaming stakeholders urged industry players to embrace the opportunities presented by iGaming and work together to build a sustainable future for the gaming industry. With the right strategies and a focus on collaboration, the panel believes that iGaming can be a valuable addition to the industry, rather than a threat to traditional casinos.
