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Innovation is Making Waves in the Gambling Industry

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Union Gaming analyst John DeCreeReading Time: 2 minutes

 

As the gambling industry continues its unprecedent expansion throughout the world, the competition among gambling operators is becoming fierce. That applies to both online and land-based operations. As competition increases, gambling operators are looking for ways to protect the bottom line. If a casino operation is struggling to increase revenues, it has to consider lowering its overhead for survival.

Last week, MGM Resorts announced it was looking at the possibility of eliminating jobs through the use of new automated technologies. The new 2020 plan would seem to be in response to the company’s stock taking a significant hit in 2018 when the company saw its shares plunged from $34 to $25, a 26 percent decline, in spite of a nice spike in revenues.

The decrease shook investors who believe the gambling industry is poised for growth as country after country has been passing the needed legislation to legalize certain forms of gambling.

Stock price rising
The stock has ticked up in recent weeks due in large part to the company announcing strong Q4 revenues totaling $3.052 billion, topping the forecast from analysts of about $2.98 billion. Full-year revenue totaled $11.76 billion with the company’s two Macau resorts being responsible for $3.2 billion.

Still, MGM Resorts has a responsibility to its stockholders to create value. If rising revenues aren’t enough to get the job done, the company has to look at lowering costs. Automation of certain positions could certainly help. Among the possibilities is using automation to fill drinks orders going to customers on the casino floor.

These drinks are usually prepared by “back of house” bartenders who do not interact with the public. Preprogramed automated machines have the ability to prepare drinks to order for waiters and waitresses. There’s also new technologies that allows patrons to pay at the table instead of a cashier. All told, MGM’s initiative is to eliminate 2,100 jobs by the end of the year 2020.

In Las Vegas, the MGM will have to work around the powerful Culinary Union to get approval for such changes due to union contract obligations. The Culinary Workers Union Local 226 and Bartenders Union Local 165 represent 60,000 workers in Las Vegas and Reno.

Gambling Growing Online and Offline
The announce certainly got the attention of union representatives. According to Culinary Union Secretary Geoconda Argüello-Kline, “Contracts have innovative automation and technology language, which set clear goals for worker retention, job training, advance notice of implementation, and severance package based on years of service if workers are laid off.” She added that the union “will be monitoring the situation closely … to ensure that the company follows the contract.”
Additionally, MGM’s proposal is receiving less than optimum support from investors. According to Union Gaming analyst John DeCree, “We found very few investors giving credit to the MGM 2020 initiative, and many questions were asked about timing and examples of cost saves.”

These kinds of changes are not likely confined to the US or land-based casinos. Certain innovations could affect online operations, like the ones found here at casinomir.com/gambling-sites, and land-based casinos all over the world. Online gambling sites are getting more and more popular for every year.

All gambling operators are in a battle for customers. At the same time, profitability is still the number one concern. As the gambling industry exposes itself to new technology and innovations, jobs are going to be put at risk.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Innovation is Making Waves in the Gambling Industry

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Skyrocket Deals with Millennium Media, Snaps up Hollywood Film Rights

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Skyrocket Deals with Millennium Media, Snaps up Hollywood Film RightsReading Time: 1 minute

 

The US based tech-entertainment company, Skyrocket Entertainment, has made deal with US-based Millennium Media and acquired international rights to a number of iconic Hollywood feature films including Rambo 4, The Expendables and the Fallen franchise. Skyrocket will transform these stories and characters into new gaming content and products and migrate them into the worldwide online gambling sector.

Production of the film-branded gaming content will commence from May 2019 with expected delivery slated for 2020. The deal was struck between Skyrocket CEO, Sean O’Kelly and Millennium Media president, Jeffrey Greenstein.

“We are excited to be working with Millennium Media, adding the crown jewels of their library to the Skyrocket slate for this innovative venture. Millennium recognised the value and vast potential of this new revenue stream from day one and we’re looking forward to creating fresh and immersive gaming experiences around these well-loved films, which resonate with existing but also new audiences worldwide,” O’Kelly said.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Skyrocket Deals with Millennium Media, Snaps up Hollywood Film Rights

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AGTech Wins Lottery Hardware Bid in Guangxi Zhuang Autonomous Region of China

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AGTech Wins Lottery Hardware Bid in Guangxi Zhuang Autonomous Region of ChinaReading Time: 1 minute

 

AGTech Holdings Limited is delighted to announce that its wholly-owned subsidiary, Beijing AGTech GOT Technology Co., Ltd has won the lottery terminals procurement tender to supply lottery terminals to the Sports Lottery Administration Center in Guangxi Zhuang Autonomous Region of the People’s Republic of China, following the winning bids in Tianjin and Hainan since 2019. The successful bid further strengthened the Company’s leading position in China’s sports lottery hardware market and demonstrated the continued competitiveness of AGTech’s lottery terminals.

John Sun, Chairman and Chief Executive Officer of AGTech said, “So far this year, AGTech GOT has already won tenders in various province, municipality and autonomous region across China, further reaffirming our hardware division’s continued dedication to and leading position in China’s lottery industry. AGTech has and will continue to enhance product innovation, ensure safety and R&D compliance, and contribute to the overall healthy development of China’s lottery market.”

 

About AGTech Holdings Limited:

AGTech was incorporated in Bermuda and its shares are listed on the GEM (Stock Code: 08279). AGTech is an integrated technology and services company engaged in the lottery and mobile games and entertainment market with a focus on China and selected international markets. A member of the Alibaba Group with around 400 employees, AGTech is the exclusive lottery platform of Alibaba Group and Ant Financial Group.

AGTech’s businesses are broadly divided into two categories:

  • Lottery (including hardware, games and systems,  provision of distribution and ancillary services); and
  • Games and Entertainment.

AGTech is a Gold Contributor of the World Lottery Association (WLA), an associate member of the Asia Pacific Lottery Association (APLA), and an official partner of the International Mind Sports Association (IMSA).

For more information, please visit www.agtech.com

 

SOURCE AGTech Holdings Limited


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: AGTech Wins Lottery Hardware Bid in Guangxi Zhuang Autonomous Region of China

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Pariplay Launches Dragons of the North

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Pariplay Launches Dragons of the NorthReading Time: 1 minute

 

Pariplay Ltd., a leading provider of Internet Gaming Systems, has launched Dragons of the North, a new online video slot that sends players on a thrilling journey to a world of fantasy and adventure.

Beautifully realised graphics further add to the game’s allure, depicting a colourful but treacherous landscape that is sure to encourage repeat play and deeper exploration into all this magical world has to offer.

Players can trigger several special reel prizes with the Golden Dragon Egg symbol, which also acts as a Wild in both the base game and free spins. Possible rewards include cash prizes, 10 free spins and one of four different jackpots with multipliers ranging from ×15 to ×1000.

“We’re very excited about Dragons of the North, which is a worthy follow-up to the incredible success of the Rumble Rhino slot that we launched in March. These games are each representative of our commitment to crafting engaging experiences with innovative gameplay features. In the case of Dragons of the North, we’ve included a special feature where each reel has its own prize, which changes with each spin,” Richard Mintz, Commercial and Marketing Director of Pariplay said.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Pariplay Launches Dragons of the North

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