The CEOs of two major gaming companies recently spoke on CNBC’s Evolution Global Summit on Wednesday about a potential recession in the industry. 우리카지노탑 Leaders at gaming giants MGM Resorts International and Wynn Resorts have spoken a few words on the topic and noted there are still no signs of impact from the global financial turmoil.
CNBC’s Evolution Global Summit is an annual meeting where business leaders gather to discuss what companies should do to boost economic resilience and stay relevant among consumers. This year, the event was held online and was held on Wednesday, July 13, 2022. And once again, a lot of business people from various sectors came out to discuss the topic.
Bill Hornbuckle, CEO of MGM Resorts International, was one of the speakers of the year at an online conference. A gaming executive said Wednesday that both high inflation and soaring gas prices will undoubtedly affect the company’s gambling activities, but that hasn’t happened yet. The company operates numerous gaming properties across the country, including Empire City Casino in New York.
Mr Hornbuckle said the last 18 months had been historic for the gaming industry, but that the company was exactly where it was expected to be. Despite soaring inflation, the American Gaming Association reported a 7.9% increase in gaming sales in May compared to the same time last year. March, April and May were the top months each with sales of more than US$5 billion.
MGM Resorts has succeeded in attracting millennials to real estate, even though the unprecedented situation has caused prices for food and gas, as well as other things like health protection protocols, to skyrocket. Mr Hornbuckle said MGM Resorts had more millennial businesses than ever before and was very optimistic demographically.
Craig Billings, CEO of Wynn Resorts, also spoke at the conference on Wednesday. He expects Wynn Resorts to be able to cope with another economic challenge. He believes the land-based gambling industry is now better prepared for a potential withdrawal, as unprecedented conditions have arisen since 2020, with all leaders now aware of how to proceed.
MGM Resorts and Wynn Resorts both made some important moves this year, as they received permission to operate in New York’s mobile sports betting model. The market opened in January and MGM Resorts’ BetMGM mobile sportsbook hit the market on January 17, 2022, while Wynn Resorts’ app WynnBET was launched in early February.
BetMGM has also been able to expand into Canada’s iGaming market by joining Ontario and a new online gaming market for private operators. The week launched its market on April 4, 2022, and Game Leader was one of the first companies to debut in the market. Local betting companies can now enjoy numerous premium sports betting vertical products online.