{"id":1594,"date":"2021-10-08T12:01:36","date_gmt":"2021-10-08T19:01:36","guid":{"rendered":"https:\/\/wagers.com\/staging\/4285\/?p=1594"},"modified":"2021-11-01T12:06:17","modified_gmt":"2021-11-01T19:06:17","slug":"g2e-review","status":"publish","type":"post","link":"https:\/\/wagers.com\/staging\/4285\/news\/g2e-review\/","title":{"rendered":"G2E review"},"content":{"rendered":"

Wish you were here:<\/strong> Travel restrictions meant most of the international representatives were unable to travel to G2E. Analysts at Truist noted that the number of mask-mandated attendees appeared to be around 50% of normal but those that were there were clearly \u201centhusiastic\u201d. The dominant headlines from the week were generated by Bill Hornbuckle\u2019s less-than-surprising comments on DraftKings-Entain suggesting MGM would have a huge say in any deal. Truist duly noted that the \u201cdrama came up in every meeting we held\u201d.<\/p>\n

Bull:<\/strong> The AGA took the opportunity of G2E to launch its new Gaming CEO Outlook which unsurprisingly showed optimism among the sector\u2019s top execs on gaming\u2019s prospects. The survey, conducted in late August and early September, showed the Current Conditions Index at 115.5, representing \u201cone of the fastest periods of growth\u201d over the past 20 years. The Future Conditions Index, however, was slightly less positive at 102.5, but still nearly half of all respondents expect business to improve further from the current trading highs.<\/p>\n

Welcome back:<\/strong> Bill Miller, president and CEO of the AGA, in his welcoming speech:<\/p>\n

\u201cA year ago, this hall was empty\u2026 One year later, we\u2019ve come roaring back with the best results in our industry\u2019s history. And we\u2019re not just ahead of last year \u2013 we\u2019re on record pace.\u201d<\/em><\/p><\/blockquote>\n

Earth, Wind & Fire: <\/strong>Speaking of the recovery, Deutsche Bank is forecasting GGR growth over the two-year Sep19 comparative across five of the six regions they track, with only Louisiana on a downward path due to the lingering impact from Hurricane Ida. However, they do expect the Las Vegas Locals market to contract on a two-year comp. See Datalines below for the latest state-by-state data.<\/p>\n

Going cashless:<\/strong> Winning the PR wars this week was cashless gaming provider Sightline. We counted three deals announced with Mastercard, IGT and Konami, an op-ed from CEO Omer Satter for the Nevada Independent calling for digital sign-ups in Nevada<\/a> and an award for best payment solution. \u201cAs expected, cashless was a key focus point with many operators highlighting the wide-ranging potential applications,\u201d said Truist.<\/p>\n

Digital demand:<\/strong> One of the takeaways from the week for Jefferies was that gaming suppliers are now under pressure from operators to leverage land-based content into online and social. \u201cThus all players are pursuing digital, with no clear winners as yet,\u201d they added. \u201cCompanies large and small will remain active on the M&A front as they focus on competitive positioning and capabilities,\u201d they said.<\/p>\n

\u201cFrom this perspective, we believe valuations are secondary to validated capabilities as the Street’s focus shifts to technology and content from access to markets and customers,\u201d the Jefferies team added. \u201cWe therefore believe it is appropriate to continue more positively skewed ratings on both casino operators and equipment and technology providers.\u201d<\/em><\/p><\/blockquote>\n

Penn to paper:<\/strong> Looking at the current sports-betting marketing war, the Truist team said their meeting with Penn has emphasized the company\u2019s \u201clonger-term, measured approach which is underscored by the strength of the Barstool brand and database.\u201d \u201cWe think it\u2019s striking how Penn increasingly sees itself as evolving into a next-generation entertainment company, well beyond just gaming,\u201d they added.<\/p>\n

Hailing you know who:<\/strong> In a note reiterating their buy on Caesars, Deutsche Bank said Arizona \u201cwill be telling\u201d for the company\u2019s sports-betting ambitions. With synchronized launches, the heavy marketing effort, database strength and a tribal relationship, DB expects Caesars to be a \u201cdouble-digit market share performer\u201d, thus backing up the case for the group to be a top-four player domestically.<\/p>\n

Check out these additional articles on Earnings + More:<\/h3>\n