The Future of Commercial Gaming: Insights from the 2024 Global Gaming Expo
By Mark Seavy
The Global Gaming Expo (G2E) 2024 held recently in Las Vegas showcased a vibrant and optimistic outlook for the future of commercial gaming. With both popular licensed franchises and innovative in-house brands making significant advancements, the event served as a strong indicator of the gaming industry’s trajectory leading into 2025. In this article, we’ll explore the key trends and insights from G2E, highlighting the evolution of sports betting, the challenges facing physical casinos, and the exciting new gaming products introduced by major industry players.
Sports Betting and iGaming Gain Momentum
One of the most prominent themes at G2E 2024 was the projected growth of sports betting and iGaming. Forecasts indicate that revenues in these sectors are set to see double-digit percentage increases in the coming years. Currently, 38 states in the U.S. have legalized sports betting, with an additional seven states expected to follow suit by 2027. As consumer interest continues to rise, the gaming industry is well-positioned to capitalize on this growing market segment.
Challenges Faced by Physical Casinos
In stark contrast to the booming online sector, physical casinos are currently grappling with a slowdown in business. Rising inflation has led to a decline in consumer spending and recreational travel. According to Dan Wasiolek, Senior Equity Analyst at Morningstar, this downturn comes after a sharp recovery during the post-pandemic period. To combat potential revenue declines, many suppliers unveiled new slot machines and gaming products at G2E that incorporate popular licensed brands, aiming to attract casino-goers back to physical locations.
Innovations from Light & Wonder
Light & Wonder, a leading supplier of slot machine cabinets, showcased its strategy of leveraging popular cultural icons to enhance gaming experiences. The company expanded its Universal Monster product line by introducing a Dracula-themed slot machine, following the success of its Frankenstein machine. Additionally, Light & Wonder broadened its Warner Bros.-licensed Wizard of Oz series with a darker adaptation titled "I’ll Get You My Pretty," featuring themes that resonate with today’s audiences.
IGT’s Expansive Offerings
International Gaming Technology (IGT) made waves at G2E with its “Wheel of Fortune Zone,” unveiling 11 new licensed slot games and expanding its renowned franchise that has been a staple of the gaming industry since 1996. The new product offerings included state-of-the-art cabinets with 49-inch screens for video poker, along with electronic table games like craps and roulette. This year marked IGT’s first appearance at G2E since announcing its plans to merge its gaming and digital business with Everi, a move expected to reshape the landscape in the gaming machine supply sector.
Aristocrat Gaming’s NFL Connection
Aristocrat Gaming showcased its expanding National Football League (NFL) themed slot machines, a follow-up to last year’s introduction. This year’s product line features electronic bingo games, and the company has also collaborated with the Dallas Cowboys, bringing NFL-themed entertainment directly to fans at AT&T Stadium. This partnership signifies the blending of sports culture with gaming, appealing to a wider audience.
Embracing a Younger Demographic
During the G2E keynote address, American Gaming Association CEO Bill Miller expressed his optimism regarding the industry’s future, highlighting the average age of casino-goers, which has decreased from 50 years old in 2019 to 42. This shift is largely attributed to the pandemic, which drew younger crowds to casinos as many other entertainment options were limited. Miller noted that the experiences offered by many casino games often mirror those of popular video games, further enticing a younger demographic.
Industry Analysis and Future Outlook
In a research note, Bill Jonas, an analyst at Truist Securities, commented on the strength of game and cabinet content presented at G2E 2024. Operators continue to view Aristocrat as a leader in the sector, though there are concerns regarding the upcoming mergers and acquisitions between IGT and Everi, which could open up opportunities for competitors. The industry’s adaptability in integrating trends and customer preferences will be critical as it navigates these changes.
Conclusion
The insights gleaned from the Global Gaming Expo 2024 reveal a dynamic landscape for commercial gaming. With significant growth projected in sports betting and innovations in gaming products, the industry is primed for a transformative period as it adapts to both challenges and opportunities. As established brands evolve and new partnerships take shape, the gaming world is undoubtedly gearing up for an exciting year ahead.
With the strategic innovations unveiled at G2E, and the overall positive sentiment surrounding the industry, 2025 is set to be a pivotal year for commercial gaming, balancing tradition with modernity to attract a diverse range of players.
