IGT Won’t Be Focusing on Skills-Based Gaming
Posted on 2018-10-30 by Sean Williamson
According to Dallas Orchard, the Chief Product Officer at IGT, the growth of the skills-based gambling market is not materialising as quickly as anticipated. Although the CPO believes that industry players have a responsibility to attract new players to the industry, IGT will not be abandoning the traditional market just yet.
Focus on the Future
Faced with an aging customer base, the gambling industry is having to look at ways to attract a younger audience. Traditional punters have, to date; enjoyed games that while away some spare time and have the opportunity to win if they are lucky. However, the Millennials, which companies that want to continue to thrive must focus on, are not giant fans of the classic slots and table game.
The younger generation prefers the skills-based games that monopolize today's video game scene and operators are now being challenged to find a way to incorporate these into their portfolios.
There are, however, certain operators who believe that focusing on this group is premature, as the market is not expanding as quickly as anticipated. Namely IGT, who has chosen to concentrate most of its product development resources on the more traditional market.
How the Industry is Changing
According to reports, Las Vegas slots revenue has increased year-on-year and reached an all-time high of $2.8 billion at the close of 2017. Macau has experienced similar increases, with Blackjack and Roulette revenue topping out at MOP1.4 billion in 2017.
Considering the industry figures and the fact that table games such as Roulette have enjoyed a following of loyal players for centuries it would be naive of the industry to believe this will change overnight. IGT’s strategy for the future is to introduce changes to its portfolio slowly, in increments. The development team will ensure that updates are intuitive and compliment the current player's experience.
The brand believes that the industry should come together as a whole to implement changes and that it should be done patiently so that new products do not confuse the industry’s more mature clientele. Some of the technologies that are being introduced today are not new but failed in earlier attempts to penetrate the market, which is something operators need to be wary of.
About the Company
IGT provides gaming technology to online and land based casinos. The brand’s products include gaming, lottery, digital and social gaming solutions to both government and commercial enterprises and they were founded in 1975, so they have a long and illustrious history.