The U.S. Gambling Federation (UGF) collaborated with Fitch Ratings to gauge the pulse of the gaming sector. Their discovery? A majority of gaming leaders are quite positive about the current trajectory.
This analysis stemmed from a poll of 26 executives representing various segments of the gaming landscape – individuals from global and American gaming corporations, tribal entities, casino directors, and the firms responsible for game development and operation. The objective was to understand their market outlook, both presently and projecting six months into the future.
Interestingly, 62% of these leaders perceive the prevailing business environment as favorable, with an additional 35% deeming it adequate. This suggests a rather upbeat sentiment.
However, this positivity wanes slightly when considering the future. A mere 20% anticipate further industry improvement within the next six months. The contributing factors? Apprehensions regarding the broader economic climate, consumer spending capacity, and a general air of ambiguity.
Nevertheless, it’s not entirely bleak. Despite not foreseeing significant growth, 65% believe the sector will maintain its current position over the ensuing six months.
William Miller, the UGF’s President and CEO, encapsulated it succinctly: “The gaming sector has been experiencing unprecedented growth leading into 2023, and the sentiment among gaming executives mirrors this trend.”
He elaborated, “While there are some reservations about a potential economic slowdown and its implications for gaming, our industry possesses resilience and is prepared to navigate any obstacles that may arise.”
Following an in-depth examination of the daily activities of gaming companies, our research revealed that a staggering 88% of respondents expressed a positive outlook on the revenue potential for gaming hardware utilized in renovations and enhancements. Furthermore, almost two-thirds predict the emergence of entirely novel applications for this technology or the expansion of current implementations.
Global instability has surpassed supply chain disruptions as the primary concern for leaders in this industry, a view shared by nearly one-third of those polled. This represents a notable change from our previous study.