US Gaming CEOs Share Positive Industry Outlook

Written By Katarina Vojvodic on April 25, 2023 - Last Updated on April 26, 2023
US gambling CEOs surveyed on industry by AGA

According to the American Gaming Association’s (AGA) Gaming Industry Outlook, most gaming executives reported a positive view of current business conditions. Meanwhile, economic uncertainty is softening future industry growth expectations.

AGA President and CEO Bill Miller said via press release:

“Gaming’s record momentum has continued into 2023 and that is clearly reflected by the attitudes of gaming executives around the country. While projections of slowing growth across the American economy are muting expectations for gaming in the medium term, our industry is well-positioned to weather any potential headwinds.”

In partnership with Fitch Ratings, the AGA survey provides a timely measure of recent industry growth and future expectations. The AGA’s Gaming Industry Outlook provides bi-annual ratings of the US gambling industry.

Almost two-thirds of gaming CEOs characterize current business as good

The report included current market opportunities and how current industry trends could change in the next six months.

The survey includes responses from 26 executives, including:

  • Executives at the major international and domestic gaming companies
  • Tribal gaming operators
  • Single-unit casino operators
  • Major gaming equipment suppliers
  • Major iGaming and/or sports betting operators

Overall, the majority of gaming executives surveyed characterized the current business situation as good (62%) or satisfactory (35%). In last year’s survey, 67% of gambling CEO respondents appointed a “good” rating to the business.

However, panel participants report a more cautious outlook moving forward. Only 20% of executives expect future conditions to be better than today. Meanwhile, 64% suppose future conditions will remain the same.

Inflation and economic uncertainty remain among executives’ main concerns

AGA’s 2023 Gaming Industry Outlook reported that a greater share of CEOs expects the pace of new employee hiring, revenue growth and customer activity to decrease over the next 3-6 months. Competition for current employees continues to be a challenge, with talent retention cited as another concern.

Concerns around interest rates and inflation (cited by 69% of respondents) and economic uncertainty (38%) remain top concerns for industry executives.

Almost all supplier executives expect sales of gaming units for replacement use to increase (88% net positive). Likewise, most CEOs (63%) expect units for new or expansion use to grow.

Since the last survey, supply chain delays have fallen out of the top five concerns of executives, replaced with geopolitical risk (31%).

Concerns around credit availability have also eased in the past six months. Only 20% of executives reported access to credit as tight, equally balanced by the share that sees it as easy (20%).

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Katarina Vojvodic

Katarina Vojvodic is a lead writer for PlayUSA who lives in Toronto. Vojvodic provides coverage of the US gambling industry with a focus on US online casinos. Previously, she covered Ontario’s online gambling industry for PlayCanada.com. Vojvodic holds a master’s degree in journalism from the University of Belgrade. Outside working hours, she can be found near the water with her husband and their two kids.

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