After a historically successful year, much has been said and written about the record-breaking commercial gaming revenue in 2021. While it is important to celebrate successes when they come, it is also necessary to reexamine the state of affairs, so gaming industry professionals can better understand the present and future market conditions. That’s why the American Gaming Association (AGA) created the Spring 2022 Gaming Industry Outlook, which examines the current state of the gaming industry, future expectations and insight from industry leaders and executives.
According to the report, the gaming industry has continued to grow, but that growth has slowed. The Current Conditions Index, which measures revenue, employment and employee wages and salaries, has taken a dip from 115.1 at the end of 2021 to 93.5 as of late April. However, the Future Conditions Index has held firm at 101.1, indicating modest economic growth over the next several months.
The Gaming Industry Outlook also includes feedback from gaming industry professionals through the Gaming Executive Panel. The Gaming Executive Panel provides data on how gaming executives feel about the state of the industry and what challenges they are facing. Despite the slowed growth, all participants remained optimistic, reporting that their current business is good (67%) or satisfactory (33%). Like the previous Gaming Industry Outlook, gaming industry executives named supply chain delays as the number one issue facing casino operators, followed by inflation and interest rate concerns and labor shortages.
The AGA’s Gaming Industry Outlook suggests that the industry will continue to grow for the next several months. However, the future is never certain, and gaming industry professionals should remain nimble, in case conditions change. Global Payments Gaming Solutions provides gaming institutions with a payments infrastructure that requires little implementation and offers industry-leading ease and convenience. Global Payments’ solutions like VIP Mobility™ and VIP Preferred® deliver a modern payments experience for in-person and online casinos across the country by leveraging digital technology. Global Payments enables gaming professionals to create an enjoyable payments experience no matter what the industry looks like.
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