9.5: A Great Big Beautiful Tomorrow

Last updated
Save as PDF

Page ID: 11074

\( \newcommand{\vecs}[1]{\overset { \scriptstyle \rightharpoonup} {\mathbf{#1}} } \) \( \newcommand{\vecd}[1]{\overset{-\!-\!\rightharpoonup}{\vphantom{a}\smash {#1}}} \)\(\newcommand{\id}{\mathrm{id}}\) \( \newcommand{\Span}{\mathrm{span}}\) \( \newcommand{\kernel}{\mathrm{null}\,}\) \( \newcommand{\range}{\mathrm{range}\,}\) \( \newcommand{\RealPart}{\mathrm{Re}}\) \( \newcommand{\ImaginaryPart}{\mathrm{Im}}\) \( \newcommand{\Argument}{\mathrm{Arg}}\) \( \newcommand{\norm}[1]{\| #1 \|}\) \( \newcommand{\inner}[2]{\langle #1, #2 \rangle}\) \( \newcommand{\Span}{\mathrm{span}}\) \(\newcommand{\id}{\mathrm{id}}\) \( \newcommand{\Span}{\mathrm{span}}\) \( \newcommand{\kernel}{\mathrm{null}\,}\) \( \newcommand{\range}{\mathrm{range}\,}\) \( \newcommand{\RealPart}{\mathrm{Re}}\) \( \newcommand{\ImaginaryPart}{\mathrm{Im}}\) \( \newcommand{\Argument}{\mathrm{Arg}}\) \( \newcommand{\norm}[1]{\| #1 \|}\) \( \newcommand{\inner}[2]{\langle #1, #2 \rangle}\) \( \newcommand{\Span}{\mathrm{span}}\)\(\newcommand{\AA}{\unicode[.8,0]{x212B}}\)

Future Outlook

The gambling industry by itself has also undergone significant changes, much of which was shaped by what was happening in Nevada, particularly in Las Vegas. Historically, casinos provided a simple array of amenities, including perhaps, a casino, a hotel, some dining, as well as entertainment (Schwartz, 2013). The non-gaming entertainment where casinos are competing for tourism dollars is a reflection of how the industry is evolving. In fact, in a 2019 survey of tourists to Las Vegas, only 14% of visitors came with the primary intention to gamble (Las Vegas Convention and Visitors Authority, 2020). Restaurants, nightlife, shopping, sports, and live music are part of a bevy of attractions that drive visitation to casino/entertainment resorts. Meetings and conventions are also vital to the modern integrated resort business model. The boundaries of what casinos are is becoming blurred. Correspondingly, new pathways to different types of careers are possible with the evolution of the gambling industry.

Technology

The future of the gaming industry is a vast horizon of possibilities, particularly as it relates to technology. From a back-of-house operations standpoint, the ability to market to a large customer database requires a vast infrastructure of data capabilities and decision support systems. Correspondingly, the customer experience for gaming properties is changing as IRs continue to push the boundaries of immersive experiences for both gaming and non-gaming patrons. This has also led to new industries altogether, forming beyond the walls of brick-and-mortar casinos. Companies like IGT, Bally, Scientific Games, Aristocrat, and Konami represent an industry unto itself that focuses specifically on the development of gaming entertainment products. Separately, companies such as William Hill and DraftKings represent the future of sports betting as this business model is transitioning to the online space, and as wagering on sports is becoming more widespread.

Because of this push towards diversification in products and services, in tandem with technological advances, gaming companies are finding new ways to attract a broader range of customers. As a result, new kinds of skills and talents will be needed to deliver on the promise of a world-class gaming/entertainment casino experience. This global expansion is occurring at a rapid pace and new kinds of industries related to gaming are emerging. The gaming/entertainment casino has quickly established itself as a hotbed for innovation within the broader hospitality field. Could you be the next great innovator?

Diversity & Inclusion

As the industry continues to evolve, the inclusion of underrepresented minorities is becoming increasingly important. For example, women have only held a small minority of management and senior-level positions in casino organizations. This is a disparity as they make up more than half of the overall hospitality workforce (Repetti & Hoffman, 2018). Global Gaming Women is an organization that advances the cause of elevating more women into leadership positions across the industry. Veterans are also an important segment of society and companies such as MGM and Caesars have developed programs to place military personnel into stable career paths.

Because of the social issues involved, gaming provides a wealth of career pathways into community-facing roles, not necessarily accessible through only a hospitality-only career. In deciding on this kind of career careful consideration based on cultural perceptions and sensitivity should be taken. However, the world is changing and the gaming industry is evolving with it in exciting ways. Perceptions are changing, especially as more forms of gambling are starting to become part of our daily lives.