Playtech’s thought on US expansion
As each state comes up with its legislation on online gambling, experts predict that the online casino and sportsbook vertical could generate as much as $8.4 billion in annual revenue by 2025. So, it’s no wonder gambling powerhouses such as Playtech want in on the action. But as more content aggregators and operators are crossing the virtual bridge between Europe and America. One might wonder what area or market shows more promises? Read more about the Playtech US expansion.
Well, Playtech’s US Managing Director, Jonathan Doubilet, has some thoughts on the matter. And he’s shared his vision on the “Growth in the New Era,” as he called it.
| 21+ | Terms & Conditions Apply | NJ Residents Only | ||
 | $25 FREE on Signup 100% up to $1.000 on First Deposit Hotspot Leaderboard | Visit Casino |
Playtech US expansion – Michigan grows at lightning speed – why is that?
For Playtech, Michigan may be somewhat unknown and new territory. But the great thing about new markets is that they have the potential to surprise. For example, Michigan only reported an all-time high in online sports betting revenue. There are two driving factors for the impressive figures, according to him.
As he pointed out, the pandemic is perhaps the leading cause of the rapid growth. And may have even helped the market to reach maturity faster. Yet, it’s because of the “large advertising spends” in the Great Lakes region that gamblers are warming up to the idea of wagering online. And now that players are adapting to the new normal. As a result, he predicted that Michigan online casinos should follow the “growth trajectory” other and more mature markets such as New Jersey, Pennsylvania had had when they opened up.
Besides Michigan, Pennsylvania, and New Jersey, are there other states to watch out for carefully in terms of record-breaking revenue and legislation shifts?
To put it simply, land-based casino operators have learned hard lessons in the past 1 /2 years, as he hinted. Indeed, because of the health crises, some have to reconsider how they generate revenue. And this is in case other external factors stop them from accepting foot traffic in the future. But as he pointed out, there are “very few active bills” currently in review by the house and senate. So, between now and next summer, less than a handful of states could jump on the online gambling bandwagon.
For him, it’s evident that the Midwest states are the ones to watch. This is because sports betting is legal. Not to forget that gambling (so on casino games like blackjack, poker, horse racing, and slots) is “more accepted,” as he admitted.
On the Playtech US expansion – Do you think more states should follow the same legislation as New Jersey?
For Jonathan Doubilet, there’s no denying that NJ online casinos have set the benchmark for online gambling in the USA.
Yet, he’s not ready to say that all states should use the same legislative model as New Jersey has nowadays. This is because they’ll always be “existing legislation” and slight degrees of differences when it comes to regulators. But for him, “reinventing the wheel,” as we understand, does not appear sustainable in the long run. Plus, he added that some regulators might have to find new ways to back “operators offering” as well as their catalog of casino games.
Companies such as Entain and Bet365 are launching Playtech offerings nowadays. Why do you think that is?
Without a doubt, it is because of our Player Account Management System (IMS). The software lets online and offline casino operators follow regulator policies of data protection and more. IMS also has a solid track record in Europe. It comes equipped with CRM and marketing capabilities. Not to forget an ever-expanding library of premium games that meet the highest fair play standards. For him, IMS is critical for any operators looking to connect with their players and operators. He ended the talk by saying that Playtech is always on the lookout for strategic “local heroes” looking to make the jump online.
| 21+ | Terms & Conditions Apply | NJ Residents Only | ||
| $25 FREE on Signup 100% up to $1.000 on First Deposit Hotspot Leaderboard | Visit Casino |