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New survey results suggest gambling CEOs think 2022 is more the best of times than the worst of times. A recent American Gaming Association gaming industry outlook provides that revelation.
The number of survey respondents rating the US gambling business overall in good shape has risen over the past six months, and a plurality of the respondents also expect things to only get better. Not everything is completely rosy in their views, though.
Gaming industry outlook shows improving attitudes
According to a press release, 67% of respondents to the AGA’s survey of gambling CEOs assigned a “good” rating to the business. Six months ago, that figure sat at just 54% in a similar survey.
As a further show of confidence, none of the respondents gave industry conditions a “poor” rating. Four out of every 10 respondents expressed a belief the climate will improve over the next two quarters as well. Only 13% expressed pessimism there.
“Gaming executives are signaling confidence in our continued recovery that is in line with record-setting consumer demand for gaming,” said AGA President and CEO Bill Miller.
“I’m optimistic that 2022 will see the return of a true sense of normalcy for gaming.”
Demand for event space and the COVID-19 pandemic no longer ranks among respondents’ top five concerns. That doesn’t mean they don’t have any concerns, however. It just means there are different challenges ahead.
Inflation, labor, supplies among CEO concerns
The top concern for respondents was supply chain issues, with 3/4 of them expressing worry about that. The next two could be seen as off-shoots there. Inflation appeared on 67% of respondents’ lists, and labor issues rounded out the top three at 54%.
A recent CNBC report by Contessa Brewer recently featured comments from Circa Resorts & Casino CEO Derek Stevens on how these issues have affected Circa’s daily operations.
“We’ve been seeing the way the average transaction on our ATMs, the average volume of transactions, and the way booking is going, there’s certainly a little bit of concern in Vegas for the summertime period,” Stevens said.
While CEOs likely will monitor those performance attributes moving forward, the challenges don’t seem too daunting for them. Overall, they see better times ahead.
