Over the past decade, we have witnessed the explosive growth of land-based gaming in Asia and its rapid recovery in western markets. Integrated resorts and gaming establishments are a major contributor to the global tourism and entertainment industries, and their continued market growth relies heavily on gaming revenue. Let us take a look at some the obstacles that we can see in the market:
1. The Need for New Revenue Streams to Continue Growing Business
Land-based gaming establishments are always looking for new revenue streams. It can be said that their business models and game formats that were originally developed in the 1970’s have not changed in principle. The current day land-based games do not have the fun social elements or in-game features that the new generations of players play every day outside of the gaming floor. At the same time, game developers of land-based games are concentrated within a handful of industry leaders, who are mostly focused on traditional slot game formats. It is no secret that highly-centralized operators share little information across the industry on game performance and aggregate player behavior, thus hampering the successful innovation of games to meet modern market needs.
2. Minimal Interaction Between Offline Gaming Operators and Players in the Online World
Once players leave the gaming premises, the interaction between the player and the land-based games comes to a halt. Traditional integrated resorts in regulated markets can not offer the same land-based games online for wagering. This disconnect limits the market reach and revenue opportunities when the player is not physically inside the gaming floor. Therefore, there is a need for a solution to allow them to continually engage players online even when they are back at home.
3. Lack of Effective Channels to Interact With and Retain Players
Integrated resorts operate expensive loyalty programs to drive visits to their property and encourage play on the gaming floor. They have little leverage to keep players playing during extended stretches of poor luck. There is no remedy for this except to offer them non-gaming rewards (hotel rooms, dining, etc.) as incentives to keep players engaged. Currently, loyalty programs are centralized within each company, restricting player freedom of choice and the efficiency of player retention.
These three obstacles are a big part of why Alphaslot will be the disruptive technology that will help an already-mature gaming market grow to new heights.
Next time, we’ll take a look at Alphaslot’s innovative blockchain technology solutions for these obstacles.