Speaking to CNBC, a media news outlet, Aristocrat CEO Hector Fernandez explained that the company’s decision to invest more heavily in the online gaming sector was not necessarily out of a fear that interactive gaming platforms are going to take over the land-based sector.

Aristocrat Sees a Dual Future for Online and Land-Based Gambling

There is a balance to be struck between the two verticals, and Fernandez feels positive that the long-term strategy Aristocrat embarks on will cover both the land-based and online gaming sectors. Physical gaming has been growing in a “robust way” of late, and it will continue to do so in the years to follow, the executive noted.

Digital and online gaming platforms are not the land-based sector killer either, Fernandez said, dismissing a popular fear that has long prevented many states and jurisdictions across the United States to embark on expanding online gambling.

Of course, there have been other fears as well – including the impact on society the mass expansion of online gambling may have if left unchecked, including an increase in problem gambling rates.

Aristocrat though has definitely appreciated the additional reach and revenue impact the company’s real money gaming (RMG) segment has had on operational results. In recent months, the Australian gaming giant has closed deals for both Roxor Gaming and NeoGames, two platforms specializing in the vertical specifically. Fernandez offered further insight into why he thought his argument was tenable.

“We do believe digital gaming will play a role. It will be a dual role, however, where a player can engage in a digital fashion but when they want that […] social interaction that you just can’t get from sitting on your phone, they will go to a land-based casino to experience that,” the chief executive said.

People Determined to Experience Land-Based Casinos No Matter What

Fernandez is fairly right to be optimistic. Entire markets and jurisdictions have begun shifting their focus from the land-based sector and gambling in general to other verticals. Macau, home to some of the biggest gambling companies and casino resorts, is now doubling down to promote the tourism industry that is tied to these resorts, without necessarily pushing casino products front and center.

Meanwhile, Fernandez said that his visit to Singapore was part of the company’s interest in exploring new opportunities for land-based gaming, including in Asia. He then paralleled how North America and Asia have reacted to COVID-19 and the subsequent reopening.

According to Fernandez, once the restrictions were lifted, and people were allowed to go somewhere and be present there physically, consumers did flock to the land-based sector rather than sitting on their phones.

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Getting the right balance between player freedom and consumer protection arguably remains the holy grail of the gambling industry. I’ve always felt that having what I call a ‘healthy tension’ between regulators and industry is needed to ensure industry continues to raise standards in responsible and safer gambling whilst allowing industry freedoms to innovate and grow sustainably.

This balancing act between sustainable growth and what the economists call the negative externalities of industry affects every industry, not just gambling. As a sector we are still learning about the pathways towards gambling harms and therefore, unsurprisingly, different jurisdictions are exploring different philosophies and approaches to consumer protection.

Here in the UK, player affordability and the single customer view have been key topics in the past two years and approaches and solutions are evolving. Other jurisdictions have taken more one-size-fits-all approaches, with stake limits for online slots (eg Germany), and more player-centric approaches, such as enforcing time and spend limits for each online player session (eg Spain), Striking the balance whilst some jurisdictions have kept monopolies in place (eg Norway), citing consumer protection as the main reason for this approach.

Whilst much attention in recent years has been centred on the iGaming sector, land-based gambling remains a major part of the industry and is embracing these solutions and services. It can be challenging in a land-based environment to innovate, however if the sector is to grow sustainably, it needs to continue to evolve its solutions, particularly leveraging technology further to protect customers.

Regardless of the different approaches, responsible or safer gambling remains a major strategic factor in building regulated and sustainable gambling markets globally. It also highlights the challenges and complexities for multi-national organizations operating in regulated markets as no two jurisdictions are the same.

This complexity, together with the continued pressure to raise standards in consumer protection, has seen considerable investment in safer and responsible gambling capabilities in recent years and there has never before been the range and depth of GAMING professional solutions and services that operators and suppliers can leverage to help ‘raise the bar’.

The ICE conference provides an excellent opportunity for all stakeholders, including legislators, regulators, academics, welfare groups and industry to get together to build strategies for using evidence and technology to strengthen consumer protection. The contributors to this safer gambling supplement are all working hard to develop insights, solutions and services to help the industry better protect players. There are many others and this week is a great opportunity to engage with them and see how you can work together to build a more sustainable industry.

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