Loading ...Will Wealthy Arabs Help Revitalize the American Gambling Industry?
Before 2021, travel became increasingly convenient and easy to arrange, with the boundaries between countries beginning to blur. Popular attractions such as casinos relied on attracting tourists from all over the world, and not just their local patrons.
But then events to a turn for the worse, and the way of the world changed overnight.
Borders slammed shut, and international travel became very difficult, a situation that shows no signs of reverting entirely back to normality.
The hospitality industry, including land casinos, has been hit hard by the absence of visitors, pushing some to the brink of survival.
However, despite the apparent difficulties, many casinos were able to recoup some of their losses by capitalising on a new market: online players. Here’s a closer look at what’s been going on and how a wealthy Arab audience could breathe new life into the US gambling industry.
The Absence of High Rollers
Any casino manager will tell you that although the average customers all contribute to profitability, it’s the high rollers that really boost their coffers. Casinos in popular spots such as Las Vegas or – on the other side of the world – Macau attract players who want to spend big bucks.
Although everyone likes to win, for the high rollers, it’s more about the experience. Being treated like a VIP and playing in person is the main appeal – and the casinos know this. By extending the red carpet to big-money players, casinos provide an indulgent experience while simultaneously profiting from the visits.
Over the last year, there has been an immediate halt to playing in person, cutting off the vital income stream that high rollers had been providing. The lull in action has stretched on for far longer than most people anticipated, leaving the doors of the casinos shut for extended periods of time.
But despite this, many casinos have flourished and have used the opportunity to reconsider their model. Online gambling has provided the solution – and industry experts believe it’s where the future lies.
Successful Online Partnerships
Although the laws about online gambling in the US vary from state to state, there’s a strong and determined move to dropping antiquated and out of date statutes. An increasing number of states have legalised gambling, and many more are looking to follow suit.
Enterprising casino groups were ahead of the curve, anticipating the trend for online play and creating partnerships even before the onslaught of worldwide adverse events.
One example of this is Entain, who joined forces with MGM in 2018, creating a new online gambling platform for the US with plans to provide access for a whole new market. These partnerships with online casino groups – like MGM and Entain Group – have already enjoyed successes with their own brands like Party Casino. And with 14.78% growth predicted until 2025, there’s much more for partnerships to explore.
However, it’s not just players in the US who are seeking out online gambling platforms. Gambling has rocketed in popularity in Arab countries, with the industry expected to be worth $95 million by 2025. Sports betting, in particular, is popular, and the Qatar World Cup 2022 is expected to heighten interest in gambling even further.
Online gaming, in general, has dominated growth in Arab countries where half the population is below the age of 25, the prime demographic for gambling and play. The wealth in these countries coupled with the demand for online casinos could just be enough to revive the American gambling industry and spark more success and growth.
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