AGA Archives - Keno Wizard https://kenowizard.com/tag/aga/ The Ultimate Keno Destination for Odds, Tips & Tricks Wed, 07 Feb 2024 01:49:49 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.5 https://i0.wp.com/kenowizard.com/wp-content/uploads/2023/02/cropped-keno-wizard-icon.png?fit=32%2C32&ssl=1 AGA Archives - Keno Wizard https://kenowizard.com/tag/aga/ 32 32 230792155 AGA Expects 68M Americans to Wager $23.1B on the Big Game https://kenowizard.com/2024/02/07/aga-expects-68m-americans-to-wager-23-1b-on-the-big-game/ https://kenowizard.com/2024/02/07/aga-expects-68m-americans-to-wager-23-1b-on-the-big-game/#respond Wed, 07 Feb 2024 01:49:49 +0000 https://kenowizard.com/2024/02/07/aga-expects-68m-americans-to-wager-23-1b-on-the-big-game/ The American Gaming Association (AGA) has published a new survey on the upcoming Super Bowl LVIII. According to the association, a quarter of the American adult population (26%, or 68 million) is expected to wager a whopping $23.1 billion on the Big Game. This figure would represent a significant increase from the $16 billion Americans [...]

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The American Gaming Association (AGA) has published a new survey on the upcoming Super Bowl LVIII. According to the association, a quarter of the American adult population (26%, or 68 million) is expected to wager a whopping $23.1 billion on the Big Game.

This figure would represent a significant increase from the $16 billion Americans wagered last year. The higher numbers were attributed to the increase in states where sports betting is now legal.

Based on a sample of 2,204 adults, the AGA concluded that 42.7 million American adults will likely place a traditional sports wager online, at a retail sportsbook or with a bookie. This represents a 41% increase from 2023.

In the meantime, 36.5 million are planning to bet casually with friends or as a part of a pool or squares contest, up 32% from 2023.

The AGA also pointed out that more and more bettors are now wagering with legal sports betting operators. According to the association 28.7 million adults, or 11% of the adult population, are planning to bet using a regulated US sportsbook.

The AGA also said that 47% of bettors are planning to bet on the Kansas City Chiefs against 44% planning to bet on the San Francisco 49ers.

Bill Miller Highlights the Importance of Player Protection

AGA’s president and chief executive, Bill Miller, commented on the figures, saying that America is experiencing record interest in wagering. He added that this means that player protection is more important than ever, which is why the AGA will continue prioritizing investment in responsible gambling tools.

In line with that, 75% of Super Bowl bettors have reported seeing responsible gambling messages. In addition, 47% of all American adults have heard or seen a responsible gambling ad at least one time in the past year, up from 40% in 2022.

During Super Bowl week, AGA’s Miller will join forces with ex-NFL professional and current Fox Sports Big Noon Kickoff host Mark Ingram II. The two will comment on the state of sports betting in the US and the importance of safer gambling.

The thrill of the game and the passion of the fans are what make sports so rewarding and fun. Legalized sports betting builds on this excitement. That’s why I’m thrilled to partner with the American Gaming Association to encourage fans, whether it’s during the Big Game or throughout the year, to keep it social and wager responsibly.

Mark Ingram II

For reference, sports betting is now legal in 38 states and Washington DC, providing over 67% of all adult Americans with access to legal betting.

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AGA Launches Free Training to Combat Human Trafficking https://kenowizard.com/2024/01/12/aga-launches-free-training-to-combat-human-trafficking/ https://kenowizard.com/2024/01/12/aga-launches-free-training-to-combat-human-trafficking/#respond Fri, 12 Jan 2024 00:24:31 +0000 https://kenowizard.com/2024/01/12/aga-launches-free-training-to-combat-human-trafficking/ The American Gaming Association (AGA) has teamed up with RG24seven Virtual Training to launch an unprecedented online educational program. The first-of-its-kind training will teach gambling industry workers how to combat human trafficking free of charge. The free education is presented by the AGA and industry experts. It uses videos and special quizzes to teach gambling [...]

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The American Gaming Association (AGA) has teamed up with RG24seven Virtual Training to launch an unprecedented online educational program. The first-of-its-kind training will teach gambling industry workers how to combat human trafficking free of charge.

The free education is presented by the AGA and industry experts. It uses videos and special quizzes to teach gambling industry employees everything they should about human trafficking identification and prevention.

The program is based on AGA’s existing Guide to Preventing and Combating Human Trafficking and leverages the expertise of the industry body’s Anti-Human Trafficking Task Force, a number of charities and the US law enforcement.

According to the AGA, all gaming companies will be able to access the free training if they request organization-wide access to the training. To do so, executives should contact RG24seven via its official email, [email protected].

In addition to the training, the AGA also announced the release of an updated gaming-specific toolkit for combating human trafficking. Representatives of the association will also participate in anti-trafficking campaigns throughout the month, including events hosted by the University of Maryland’s SAFE Center and the US Department of Homeland Security’s Center for Countering Human Trafficking.

AGA representatives will also take part in a congressional briefing hosted by the US Chamber of Commerce.

Alex Costello, AGA’s vice president of government relations, commented on the new program, highlighting the importance of combating human trafficking. She said that her team is glad to be able to provide employees with such crucial training for free.

The AGA is proud to lead the industry’s fight against this abhorrent crime and this free training empowers employees at all levels to spot and prevent cases of human trafficking.

Alex Costello, VP of government relations, American Gaming Association

Wendy Anderson, RG24seven’s chief executive officer, also commented on the matter, saying that responsibility in the gambling industry extends beyond the promotion of safer gambling. According to her, true responsibility means “a commitment to all forms of customer and community safety.”

We’re honored to work with the AGA and advance the gaming industry’s efforts with the launch of today’s training.

Wendy Anderson, CEO, RG24seven

Unveiled on National Human Trafficking Awareness Day, the initiative mirrors the recent reiteration of Hard Rock’s commitment to fighting human trafficking. For reference, Hard Rock and Seminole Gaming just promised to continue working hard to set a new standard for anti-human trafficking training in the gaming industry.

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AGA Selects Industry Veteran Michael Rumbolz as Next Chair https://kenowizard.com/2023/12/07/aga-selects-industry-veteran-michael-rumbolz-as-next-chair/ https://kenowizard.com/2023/12/07/aga-selects-industry-veteran-michael-rumbolz-as-next-chair/#respond Thu, 07 Dec 2023 22:00:31 +0000 https://kenowizard.com/2023/12/07/aga-selects-industry-veteran-michael-rumbolz-as-next-chair/ Two days after naming an ex-Washington Commanders executive as SVP of strategic communications, the American Gaming Association (AGA) has elected Michael Rumbolz as its new chairman. Rumbolz currently serves as the executive chair of Everi Holdings’ board. As chair of the AGA, he will succeed Hard Rock International Chairman and Seminole Gaming CEO Jim Allen. [...]

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Two days after naming an ex-Washington Commanders executive as SVP of strategic communications, the American Gaming Association (AGA) has elected Michael Rumbolz as its new chairman.

Rumbolz currently serves as the executive chair of Everi Holdings’ board. As chair of the AGA, he will succeed Hard Rock International Chairman and Seminole Gaming CEO Jim Allen. The new appointee’s term is set to begin in January 2024.

Rumbolz boasts a colorful track record that saw him rise “from a busboy to the c-suite,” the AGA said. His career spans across all levels and aspects of the gaming industry with experience encompassing gaming equipment manufacturing and distribution, hotel and casino operations, casino financial technology, iGaming and compliance.

Some of the hire’s most notable prior positions include time as chief executive officer of Everi Holdings, member and chair of the Nevada Gaming Control Board and chief deputy attorney general of Nevada.

Rumbolz’ predecessor, Allen, played a key role in the industry’s impressive post-COVID recovery and the war on illegal gambling. The new hire will be responsible for maintaining the existing momentum and reinforcing the industry.

Rumbolz Will Be a Valuable Asset to the AGA

Rumbolz commented on his new position, expressing his gratitude about the opportunity to help shape gaming’s future. He promised to leverage his new position to build on the progress his predecessor made.

From stopping illegal gambling to evolving responsible gambling, the AGA is tackling transformational issues and I am eager to build on the progress made during Jim’s tenure.

Michael Rumbolz, chair, AGA

Bill Miller, the AGA’s president and chief executive officer, welcomed the new hire on board, praising him as “an industry legend in his own right.” Miller is certain that Rumbolz’ prior career has taught him all the skills needed to make him an invaluable addition to the AGA team.

Mike’s career as an operator, manufacturer and regulator is unparalleled and will be vital to driving meaningful progress on industry priorities.

Bill Miller, president & CEO, AGA

Miller also commented on Allen’s departure, thanking him for his exceptional service and help in maximizing the AGA’s impact on the industry. The CEO described the outgoing chair as a “trusted advisor” and said that he is thankful for his partnership.

Allen also shared his thoughts on the matter, saying that the AGA is poised for reshaping the industry under Miller and Rumbolz’ leadership. He concluded: “Our industry and this association have never been stronger. I am immensely proud of our success over the last two years accelerating gaming’s recovery while defining and advancing new priorities.”

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AGA Names Ex-Washington Commanders Executive as SVP of Strategic Communications https://kenowizard.com/2023/12/05/aga-names-ex-washington-commanders-executive-as-svp-of-strategic-communications/ https://kenowizard.com/2023/12/05/aga-names-ex-washington-commanders-executive-as-svp-of-strategic-communications/#respond Tue, 05 Dec 2023 22:14:02 +0000 https://kenowizard.com/2023/12/05/aga-names-ex-washington-commanders-executive-as-svp-of-strategic-communications/ The American Gaming Association (AGA) has reinforced its executive team with the appointment of the experienced Joe Maloney as senior vice president of strategic communications. In this position, the new appointee will be tasked with leading the gambling association’s communications, research, marketing and public affairs. Maloney will officially join AGA’s team in January and will [...]

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The American Gaming Association (AGA) has reinforced its executive team with the appointment of the experienced Joe Maloney as senior vice president of strategic communications. In this position, the new appointee will be tasked with leading the gambling association’s communications, research, marketing and public affairs.

Maloney will officially join AGA’s team in January and will help advance key priorities for AGA members. He joins the AGA from the Washington Commanders, a professional football franchise. During his time with the team, Maloney served as vice president of public affairs and strategic communications. The position saw him spearhead the club’s external engagement, proving his expertise in communications.

As VP of public affairs for the Commanders, Maloney also steered the franchise’s legislative advocacy on sports betting in Virginia and Maryland. Thanks to this, the team was able to form key partnerships with FanDuel in Virginia and Fanatics in Maryland. Maloney was also instrumental in cementing the Washington Commanders as the first NFL team to join AGA’s “Have A Game Plan. Bet Responsibly.” initiative.

Before joining the Washington Commanders, Maloney served as a partner at Locust Street Group, a full-service public affairs agency in Washington DC. During his team with LSG, Maloney led the agency’s work on G2E and AGA’s Get to Know Gaming series.

Bill Miller, AGA’s president and chief executive officer, welcomed the new hire on board, saying that he will be an invaluable addition to the association’s best-in-class communications team. He described the new appointee as an “accomplished professional” who doesn’t back off when facing significant public affairs challenges.

We will benefit not only from his (from Maloney’s) depth of experience and his tireless advocacy, but his enthusiasm and energy to hit the ground running as a champion for the casino gaming industry.

Bill Miller, president & CEO, AGA

Maloney also commented on the matter, expressing his excitement about his new position. He noted that his new appointment comes at a “pivotal moment for the gaming industry.”

Maloney said: “I’m honored to join the AGA and its dedicated team at this pivotal moment for the gaming industry. The future holds great promise and I’m energized by the opportunity and challenge of communicating the remarkable benefits and economic impact of legal gaming across the country.”

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AGA Publishes Commercial Gaming Revenue Tracker for August https://kenowizard.com/2023/10/18/aga-publishes-commercial-gaming-revenue-tracker-for-august/ https://kenowizard.com/2023/10/18/aga-publishes-commercial-gaming-revenue-tracker-for-august/#respond Wed, 18 Oct 2023 21:41:53 +0000 https://kenowizard.com/2023/10/18/aga-publishes-commercial-gaming-revenue-tracker-for-august/ The American Gaming Association has published its latest Commercial Gaming Revenue Tracker, providing state-by-state and nationwide insight into the performance of the United States’ gambling industry. The August results suggest that the US gaming industry might be in for a third record-breaking year in a row. As reported by the AGA, casino gambling industry revenue [...]

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The American Gaming Association has published its latest Commercial Gaming Revenue Tracker, providing state-by-state and nationwide insight into the performance of the United States’ gambling industry. The August results suggest that the US gaming industry might be in for a third record-breaking year in a row.

As reported by the AGA, casino gambling industry revenue continued to grow, while gaming revenue as a whole increased by 4.9% in August. According to the association, this marks the 30th consecutive month of year-on-year growth.

Leveraging data from state regulators, the AGA concluded that the US gaming industry exceeded the $5 billion mark for the twelfth month in a row, sitting at $5.14 billion in August. The first eight months of the year, meanwhile, saw the industry accumulate revenue of $43.15 billion. This figure notably marks a 10.4% YOY increase.

Growth wasn’t universal, however. According to the report, 17 of the 33 states with commercial gambling markets saw their revenues increase. Meanwhile, six markets recorded marginally lower results. These included DC (-0.7%), Florida (-0.9%), Indiana (-1.2%), Iowa (-0.5%), Missouri (-0.3%) and Mississippi (-3.7%).

All Verticals Reported YOY Growth

The AGA also provided an insight into how the separate verticals fared. The association attributed the vast growth to the iGaming sector and pointed out that land-based gaming revenue growth has been experiencing a slight slowdown.

For reference, in August, land-based casinos and sportsbooks experienced a revenue increase of 0.8% year-on-year. Their online counterparts, meanwhile, saw their revenue skyrocket by 24.6% year-on-year. The AGA noted that Kansas, Maryland, Massachusetts, and Ohio were major growth drivers.

Traditional slots and table games are experiencing slower growth but are still responsible for much of the traditional casinos’ revenue. In August, these segments generated $4.06 billion in revenue, which represents a modest 1.1% YOY increase. Slot machines were responsible for almost three-quarters of that number.

During the first 8 months of the year, traditional slots and table games have generated $33.03 billion, surpassing last year’s figure for the same period by 3.3%.

The off-season period in professional sports, meanwhile, led to the usual decrease in revenue. Despite that, the figures exceeded the ones recorded in the summer of 2022, attesting to the increased interest in betting.

In total, sports betting handle for August was $6.67 billion, up 36.1% YOY. This translated into total revenue of $583.1 million, which is 21.2% higher than what the industry recorded in April 2022. This figure was bolstered by the recent launch of betting in additional states.

Through August, sports betting in the USA recorded revenue of $6.14 billion, a stellar 60.4% up YOY. Handle for the same period reached a whopping $68.23 billion. According to the AGA, these figures mean that betting handle is likely to surpass the $100 billion mark by the end of the year.

Finally, the AGA reported that the six states where online gambling is legal saw revenue from the vertical increase by 23.4% YOY to $495.8 million. Delaware was the only of the six markets that failed to report growth.

Through August, iGaming revenue reached $3.94 billion, representing a YOY increase of 22.7%.

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Gaming Industry Contributes $329bn to US Economy, Says AGA https://kenowizard.com/2023/10/10/gaming-industry-contributes-329bn-to-us-economy-says-aga/ https://kenowizard.com/2023/10/10/gaming-industry-contributes-329bn-to-us-economy-says-aga/#respond Tue, 10 Oct 2023 08:44:25 +0000 https://kenowizard.com/2023/10/10/gaming-industry-contributes-329bn-to-us-economy-says-aga/ Currently, 45 US states along with the District of Columbia have established some form of gambling activity, which can include casino gambling, iGaming and sports betting. A new study released by the US gambling industry association, the American Gaming Association (AGA), reveals what is the annual economic impact of legalized gambling across the country. The [...]

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Currently, 45 US states along with the District of Columbia have established some form of gambling activity, which can include casino gambling, iGaming and sports betting. A new study released by the US gambling industry association, the American Gaming Association (AGA), reveals what is the annual economic impact of legalized gambling across the country.

The new research was conducted by Oxford economics and probed the US commercial and tribal gambling sector. AGA’s new study uncovered that the gambling sector has a profound impact on the US economy, supporting nearly 2 million jobs and contributing billions on an annual basis.

The recently released report reveals that the tribal and commercial gambling sector contributes $328.7 billion to the US economy. Overall, the sector supports some 1.8 million jobs. The commercial and tribal gaming industry contributes some $104 billion in the form of salaries and wages across the US.

Besides supporting jobs and the economy, the regulated gambling sector raises tax revenue. According to the new research, some $52.7 billion is generated in tax revenue by the tribal and commercial gambling sector. This tax revenue provides vital funding for local, federal and state governments, supporting a wide range of public services and programs. Such include economic and infrastructure development, education and supplemental funding for state general funds.

The research into the impact of the gambling sector coincided with the release of another study by the AGA. Citing separate research, the Association revealed that nearly half of the American adults, 49%, engaged in some form of gambling activity over the past year. In addition to that, some 71% of American adults agreed that the gambling sector has a positive impact on the US economy.

700K People Are Directly Employed by the Gaming Sector

Focusing once again on the impact of the US commercial and tribal gaming industry, the AGA explained that some 700,000 people are directly employed by the gaming sector. In comparison to other industries, the gambling sector offers more jobs than the postal service, motion picture and video, as well as air transportation sectors. “Direct casino employment accounts for 1 in 33 leisure and hospitality jobs,” reveals AGA’s recent research.

The US gaming industry delivers long-term growth and impact to communities, generating significant tax revenue, creating strong jobs, supporting local small businesses, and funding critical community priorities.

Bill Miller, CEO and president of AGA

Bill Miller, AGA’s CEO and president, addressed the impact of the gaming sector at G2E 2023. He explained that the gambling sector generates tax revenue, while at the same time supporting local communities and businesses. Finally, Miller highlighted the long-term impact of the gaming sector on communities.

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AGA Publishes Q2 2023 Commercial Gaming Revenue Tracker https://kenowizard.com/2023/08/16/aga-publishes-q2-2023-commercial-gaming-revenue-tracker/ https://kenowizard.com/2023/08/16/aga-publishes-q2-2023-commercial-gaming-revenue-tracker/#respond Wed, 16 Aug 2023 20:21:34 +0000 https://kenowizard.com/2023/08/16/aga-publishes-q2-2023-commercial-gaming-revenue-tracker/ The American Gaming Association (AGA) has published its Q2 2023 Commercial Gaming Revenue Tracker, reporting Q2 record of $16.07 billion. This represents an 8.1% year-on-year increase and marks the 10th quarter of annual growth in a row. Q2 2023 is also the second-highest grossing quarter in the history of commercial gaming in America, only surpassed [...]

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The American Gaming Association (AGA) has published its Q2 2023 Commercial Gaming Revenue Tracker, reporting Q2 record of $16.07 billion. This represents an 8.1% year-on-year increase and marks the 10th quarter of annual growth in a row.

Q2 2023 is also the second-highest grossing quarter in the history of commercial gaming in America, only surpassed by Q1 2023, which is the industry’s best quarter yet. As a result, the total H1 2023 revenue is a whopping $32.71 billion, making the period the strongest half-year for the commercial gambling industry in the States.

The AGA also noted that the first six months of the year have resulted in an estimated $7.28 billion in direct gaming tax revenue, received by states and local governments. This represents a 12.9% year-on-year increase and sets the industry on track to generating more annual gaming tax revenue than ever before.

In total, 23 of the 34 US jurisdictions with a form of legal gaming experienced YOY revenue growth in Q2 2023.

Digital Gaming Made These Numbers Possible

The AGA report noted that land-based gaming is still responsible the larger part of the commercial revenue. However, the spectacular growth is attributable to the fast expansion of online sports wagering and iGaming, the association added.

Q2 revenue from land-based casino operations sat at $12.38 billion, representing a modest YOY increase of 0.9%. Online casino gaming, meanwhile, generated $1.48 billion in revenue.

Online gaming as a whole, on the other hand, skyrocketed by 43.1%, to $3.68 billion in Q2 2023. The AGA noted that the growth can be attributed to the recent launch of online sports betting in Kansas, Maryland, Massachusetts and Ohio.

The commercial sports betting industry (both retail and online) posted total revenue of $2.3 billion. The figure translates into an increase of 56.6% and marks the strongest quarter for sports wagering in the United States.

AGA’s president and CEO Bill Miller said that the growth of gaming continues to have a positive impact on communities thanks to the industry’s tax contributions. He said that the results clearly show that the post-pandemic recovery wasn’t merely a fluke.

To sustain this momentum, the AGA will continue enlisting more allies in our fight against the illegal market, bolstering responsible gaming, and building a business environment that allows our innovative industry to bring world-class entertainment to adults across America.

Bill Miller, president & CEO, AGA

Earlier this month, the AGA announced its 2023 Hall of Fame honorees.

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AGA Announces Its Gaming 2023 Hall of Fame Honorees https://kenowizard.com/2023/08/09/aga-announces-its-gaming-2023-hall-of-fame-honorees/ https://kenowizard.com/2023/08/09/aga-announces-its-gaming-2023-hall-of-fame-honorees/#respond Wed, 09 Aug 2023 02:52:02 +0000 https://kenowizard.com/2023/08/09/aga-announces-its-gaming-2023-hall-of-fame-honorees/ The American Gaming Association (AGA)’s 2023 additions to its prestigious Gaming Hall of Fame Class continue a lasting legacy of recognizing excellence and promoting innovation. This year, Brett Abarbanel, Jim Allen, Kirsten Clark, and John Connelly will receive accolades for their merits and contributions to the industry. Four Innovative Leaders Take Center Stage The Gaming [...]

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The American Gaming Association (AGA)’s 2023 additions to its prestigious Gaming Hall of Fame Class continue a lasting legacy of recognizing excellence and promoting innovation. This year, Brett Abarbanel, Jim Allen, Kirsten Clark, and John Connelly will receive accolades for their merits and contributions to the industry.

Four Innovative Leaders Take Center Stage

The Gaming Hall of Fame’s legacy dates back to 1989, showcasing the individuals who shaped the industry’s future. Highlighting these accomplishments allows businesses to build upon successful practices and achieve lasting success. 2023’s entries are no exception, excelling in their respective fields to stand out amidst their peers.

These four esteemed individuals are:

  • Bill Anoatubby – Serving as the Governor of the Chickasaw Nation, he has been a driving force behind the tribe’s successful gaming ventures.
  • Robert Miodunski – His vision and leadership at American Gaming Systems, Bally Gaming, and Alliance Gaming have been instrumental in shaping the direction of gaming technology and entertainment.
  • Jim Murren – With a notable tenure as the former chair and CEO of MGM Resorts International, he demonstrated an innovative leadership approach and strategic vision. 
  • Ellen Whittemore – As Executive VP, General Counsel, and Secretary of Wynn Resorts, her contributions were crucial in navigating complex legal challenges and ensuring the integrity of gaming operations.

An independent panel featuring seasoned industry professionals selected these leading gambling personalities, elevating them to the prestigious Gaming Hall of Fame Class. The panel members include people like Brett Abarbanel, Executive Director of the International Gaming Institute at UNLV, Interblock CEO John Connelly, Executive Director of the International Association of Gaming Advisors Kirsten Clark, and Jim Allen, CEO of Seminole Gaming and Chair of Hard Rock International.

Their Achievements Will Leave a Lasting Impact

Abarbanel, Connelly, Clark, and Allen will receive their distinction at an invitation-only induction ceremony during this year’s Global Gaming Expo in Las Vegas. The event will provide a platform for networking, innovation, and knowledge sharing as the Gaming Hall of Fame induction celebrates the exceptional achievements of industry luminaries.

The AGA’s recognition of these distinguished individuals underscores the organization’s commitment to highlighting the positive impact of the gaming industry on communities, economies, and entertainment. AGA President and CEO Bill Miller noted that this year’s laureates were instrumental in positively transforming businesses and communities through their lasting dedication to the evolution of gaming.

Bill, Ellen, Jim, and Robert’s far-reaching impacts on gaming are indelible-and undoubtedly worthy of inclusion in the Hall of Fame.

Bill Miller, AGA President, and CEO

The upcoming momentous induction ceremony will celebrate the honorees’ achievements and highlight their enduring impact on the gaming industry. The contributions of leaders like Bill Anoatubby, Robert Miodunski, Jim Murren, and Ellen Whittemore stand as a testament to the sector’s innovation and transformative power, elevating them above their peers.

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AGA Report Reveals Gaming Industry Economic Activity Is Set to Decrease https://kenowizard.com/2023/04/26/aga-report-reveals-gaming-industry-economic-activity-is-set-to-decrease/ https://kenowizard.com/2023/04/26/aga-report-reveals-gaming-industry-economic-activity-is-set-to-decrease/#respond Wed, 26 Apr 2023 06:37:14 +0000 https://kenowizard.com/2023/04/26/aga-report-reveals-gaming-industry-economic-activity-is-set-to-decrease/ Despite the record momentum of the gaming industry, gaming executives are increasingly cautious about the industry’s future prospects, according to a report by the American Gaming Association (AGA) compiled in partnership with Fitch Ratings.  Gaming Industry Executives Predict Flat Growth Ahead Despite Record Momentum Two-thirds of respondents expect conditions to remain the same. The report [...]

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Despite the record momentum of the gaming industry, gaming executives are increasingly cautious about the industry’s future prospects, according to a report by the American Gaming Association (AGA) compiled in partnership with Fitch Ratings. 

Gaming Industry Executives Predict Flat Growth Ahead Despite Record Momentum

Two-thirds of respondents expect conditions to remain the same. The report found that gaming-related economic activity expanded at an annualized rate of 8.4% in the last three quarters, while the US economy grew by 2.9% over the last two quarters of 2022.

The data in the report suggested that annualized industry economic activity will decrease moderately over the next six months. The results showed that more executives expect a decrease in the pace of hiring new employees, revenue growth, and customer activity over the next three to six months than an increase. 

However, there was a brighter outlook for certain segments of their businesses, with more operators expecting capital investment and gaming units in operation to increase rather than decrease over the same period.

Gaming equipment manufacturers expressed significant optimism, with most expecting sales of gaming units for replacement use to increase and almost all expecting sales of units for new or expansion use to increase. 

Economic Uncertainty and Geopolitical Risk Among Top Concerns for Gaming Industry Executives

Among the top concerns for industry executives were interest rates and inflation, cited by 69% of respondents, and economic uncertainty, cited by 38%. Meanwhile, supply chain delays, which had been a top-five concern in the previous report, fell out of favor, with geopolitical risk taking their place.

Retention of talent remained a challenge for the industry, with competition for current employees cited as an area of concern.

AGA President and CEO Bill Miller said that gaming was well-positioned to weather any potential economic headwinds, but projections of slowing growth across the broader US economy had muted expectations for gaming in the medium term. 

The report, prepared biannually by Oxford Economics, provides a timely measure of recent industry growth and future expectations.

A total of 26 executives responded to the Q1 2023 survey, including those at the major international and domestic gaming companies, tribal gaming operators, single-unit casino operators, major gaming equipment suppliers, and major iGaming and sports betting operators. Another recent report by AGA highlighted that the US gaming industry is more diverse than the larger hospitality sector and the US workforce. The study revealed that 62% of gaming industry employees are minorities, with Asian employees representing a significant presence with 14%, double the national workforce.

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Commercial Gaming Revenue up by 21% In January, Says AGA https://kenowizard.com/2023/03/16/commercial-gaming-revenue-up-by-21-in-january-says-aga/ https://kenowizard.com/2023/03/16/commercial-gaming-revenue-up-by-21-in-january-says-aga/#respond Thu, 16 Mar 2023 14:27:52 +0000 https://kenowizard.com/2023/03/16/commercial-gaming-revenue-up-by-21-in-january-says-aga/ The US gambling industry trade group, the American Gaming Association (AGA), announced Wednesday new data regarding the revenue reported by the commercial gambling sector in the country, acknowledging a strong start to the year. Judging by the new data, the US commercial gaming revenue, which includes iGaming, land-based and sports betting revenue hit $5.50 billion [...]

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The US gambling industry trade group, the American Gaming Association (AGA), announced Wednesday new data regarding the revenue reported by the commercial gambling sector in the country, acknowledging a strong start to the year. Judging by the new data, the US commercial gaming revenue, which includes iGaming, land-based and sports betting revenue hit $5.50 billion in January this year.

That result marked strong growth of 21.1% when compared to the total gross gaming revenue (GGR) reported for the same period in 2022. Moreover, the result this January further complements the growth observed in the last few years marking the 23rd consecutive month with a reported revenue increase.

The latest result comes after the AGA reported that 2022 was a record-setting for the commercial gaming industry. Without any doubt, the legalization and introduction of sports betting to new US states, combined with the expansion of some of the existing iGaming markets impacted positively the results. That positive impact will likely continue to be in effect throughout this year as well, keeping in mind the strong start recorded in January.

According to revenue data reported by state regulators and compiled by the AGA, nationwide gaming industry win from traditional casino games, sports betting and iGaming reached $5.50 billion in January 2023,

explains a statement released by the AGA

Sports Betting, iGaming GGR Soars in January

A breakdown of the $5.50 billion in total GGR for the commercial gaming sector released by the Association reveals that the revenue growth was primarily driven by sports betting and iGaming. Sports betting GGR in January this year hit $1.02 billion. This result marked the first time sports betting GGR surpasses the billion-dollar figure. When compared to the result from January last year, the $1.02 billion in sports betting GGR marked an increase of 58.2%.

On the other hand, iGaming GGR soared in January as well, increasing to $482 million when compared to the same period in 2022. That result marked a significant increase of 20.6%, impacting the overall result for the month positively.

Although iGaming and sports betting revenue increased significantly, the land-based sector performed well too. Slot GGR for January jumped by 15.5%, hitting $2.86 billion in revenue. Without any doubt, this figure reaffirmed the strong market share of slots.

Last but not least, the revenue reported by commercial table games also marked an increase. In total, table game GGR hit $838 million in January, representing an increase of 14.7% when compared to the corresponding period a year ago.

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