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A PUBLICATION OF THE INNOVATION GROUP
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Emerging Leaders of Gaming 40 Under 40
Emerging Leaders of Gaming™ (ELG) is now accepting nominations for its annual recognition program. ELG was created to support young executives on the path to industry leadership through education, networking and other career development opportunities. As part of this program, members of the industry are annually invited to nominate themselves or someone else for the ELG 40 Under 40, honoring 40 rising stars of gaming under age 40. Individuals named to the ELG 40 Under 40 receive:
- Recognition in Global Gaming Business Magazine, including an individual profile to be published between November 2020 and September 2021;
- Recognition in the Emerging Leaders of Gaming Newsletter;
- Recognition at the ELG Cocktail Event during G2E; and
- A scholarship opportunity (presented to one honoree) to attend the International Association of Gaming Advisors (IAGA) conference.
Nominations close August 14, 2020, so submit yours today!
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Coronavirus Recovery Analysis
A Gaming Industry White Paper
The Innovation Group's Coronavirus Recovery Analysis, A Gaming Industry White Paper is a preliminary analysis of potential recovery patterns of the gaming industry from COVID-19. US Commercial casino revenue for 2019 is utilized as the baseline in the recovery model forecast, and presents regional percentage recovery estimates that apply to commercial and tribal casinos. Destination, international and online gaming markets are considered qualitatively in the report.
The analysis applies a range of demand recovery scenarios based on (1) the level of decline in the economy (measured as employment and income) and in perceived customer security (based primarily on performance immediately preceding closures); (2) ramp up of economic recovery, and; (3) ramp up of consumer acceptance for spending and use of public spaces.
Supply factors include the impact of social distancing and potential changes in the competitive landscape. Constraint sensitivities to reflect the impact of social distancing are based on a continuum of thresholds linked to daily win per unit where win per unit above $500 reflects extreme constraint and win per unit below $150 reflects minimal constraint.
Findings indicate that the rate of revenue recovery by the end of the first year of operation following reopening would be lower than demand potential as long as social distancing measures are in effect. A casino with extremely high utilization pre-virus would reach pre-virus levels of only 33%, while a casino with minimal utilization would reach 73%, or an additional drop of approximately ten percentage points off the demand potential. These estimates are based on closing three of every five gaming positions. If wider spacing is required, the recovery would naturally be lower, or vice versa.
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Sports Betting Community Digital Summit
The SBC Digital Summit, which took place April 27 - May 1, was a truly groundbreaking online event for the betting and gaming industry. It delivered a fully virtual and interactive conference, exhibition, and networking experience to delegates around the world. It featured a comprehensive agenda, with 140 leading industry executives outlining their vision of how the sector can bounce back from the Coronavirus-related disruption, and sharing valuable business insights at a time when both operators and the supply chain most need them.
Thanks to the use of state-of-the-art technology, delegates were also able to browse a virtual exhibition with leading suppliers showcasing their latest innovations and benefit from a fully interactive virtual networking space that allowed them to connect directly with each other in groups or 1-to-1.
For more information about the event, visit the
SBC Digital Summit Event Recap.
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Eagle Mountain Casino Relocation
The Innovation Group has worked in conjunction with the Eagle Mountain Casino and Tule River Indian Tribe of California for many years, including most recently completing a study to relocate the casino from its current location closer to Porterville. The relocation will offer the Tribe more ties to the land as well as a significant economic benefit to both the Tribe and local communities. Though this relocation has been in the works for many years, it just recently received approval to do so. In October of 2019, the Bureau of Indian Affairs (BIA) approved the relocation to its new site, followed by the Tulare County and Porterville City Council approval in January of 2020.
Benefits to the local community include a $550,000 annual fee to Tulare County general support services, an additional $3.5 million to the county for law enforcement, and nearly $50,000 for fire services. With the approval of both the BIA and local authorities out of the way, final approval is needed from California's Governor Gavin Newsom. Though approval is anticipated, the Governor has until October 2020 to make that decision. Approval would finally open the door to the new 1,500 slot machine facility with 250 hotel rooms and accompanying amenities such as food and beverage outlets, an entertainment center, and a large convention center.
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Feat
ured "Emerging Leaders of Gaming 40 Under 40"
Ryan Sawyer
Vice President/Project Manager
Analytical Environmental Services
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Adam Wexler
CEO
Performance Predictions
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Josh Ford
Chief Information Officer
Jamul Casino
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Kelly Sullivan
Director of Global HR & Development
Mohegan Gaming & Entertainment
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When I joined ELG, I didn't know what to expect. What I've discovered is that it's comprised of some of the most talented and innovative leaders in the industry. Being a part of ELG instantly connects you to a diverse network of some of the best professionals in gaming. The Innovation Group and GGB Magazine have set the bar in establishing a program for emerging leaders."
-- Daniel Hanson, CPA, CFE
Executive Director
Snoqualmie Gaming Commission
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Watch Video from Our Webinar, "Building Blocks: Physical Planning for Sports Books"
This webinar took place as part of the SBC Digital Summit. As states continue to legalize sports betting, casinos are faced not only with the operational impacts of this new form of gaming, but also the physical challenge of incorporating these operations into their facility. From creating an area for a few kiosks or retrofitting existing space for a small sports book to full-on expansion, how do you determine the best route for your market, property, and players? During this webinar, experts in operations and design who have lived through the experience offered guidance on the process, shared what worked for them, and provided insight into roadblocks they encountered that you can avoid. Watch the webinar video here.
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Slot Hold vs. Slot Revenue
There have been many articles published in recent months, and indeed over the last several years, about slot hold, with many at least partially attributing the industry's woes to rising hold. Read TIG SVP
Brian Wyman's
article here, as he makes sense of the slot hold debate.
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Tribal Economic Development Corporations
As tribes across the country work to leverage gaming resources into economic diversification projects, the importance of the economic development corporation cannot be overemphasized. Although there are a variety of creative approaches to structuring economic development, there are some common themes behind some of the most successful: persevering through early struggles and setbacks before finding the right balance between Tribal oversight and corporate independence, and the right development strategy, one that takes advantage of inherent advantages or opportunities.
Click here to read the full article by TIG's Tom Zitt and Chris Irwin.
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ARTICLES OF INTEREST
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PRESS:
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EVENTS & CONFERENCES:
- ICE North America Digital session
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PROJECTS:
- The Virginia Joint Legislative Audit and Review Commission (JLARC) retained The Innovation Group in an open bid process, after TIG assessed the gaming revenue and net economic impact potential from potential legalization of casinos, sports betting, and online gaming, and their associated impacts on the Virginia Lottery, charitable gaming, and horse racing industry. Regulatory Management Counselors, P.C. (RMC) assessed regulatory impacts. Results were presented to the Virginia legislature in November 2019 and utilized by legislative committees to shape gaming legislation that was signed into law in April 2020. Click here to access reports. Now, the Virginia Lottery has launched a casino and sports betting web page. Click here to read more about it.
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STAY CONNECTED WITH EMERGING LEADERS:
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Emerging Leaders of Gaming has established itself as the go-to network for young professionals assuming the next generation of leadership in gaming, entertainment, hospitality, food and beverage, tourism, and leisure. We continue to support the growth and development of these rising stars as they achieve their fast-track to success, destined to fill tomorrow's senior-level and C-suite management positions.
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Copyright 2020. All Rights Reserved.
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