In 2021, the global gaming industry made a remarkable recovery after the coronavirus pandemic. The pandemic presented a significant setback for the gaming industry, primarily casino gaming, but easing COVID-19 restrictions and continued legalization of gambling allowed the industry to grow beyond pre-pandemic levels.
After a record-breaking Q3 2021, the American Gaming Association (AGA) released the Gaming CEO Outlook. The Gaming CEO Outlook uses industry data and veteran expertise to create a picture of the gaming industry’s present and future. The Gaming Executive Panel, consisting of AGA-member CEOs across multiple disciplines in the gaming industry, expressed that the gaming industry should continue to grow at an annualized rate of 2.7% over the next several months. While this growth is not as dramatic as the growth experienced in 2021, casinos are still in a great position to make massive gains. Pavilion Payments helps make this a reality for casinos nationwide.
Pavilion Payments’ solutions are designed to maximize revenue for casinos while creating an unforgettable experience for patrons. For example, VIP Mobility™ is the industry’s first mobile solution enabling true cashless gaming from funding through cash-out. By harnessing the flexibility and ease of Pavilion Payments’ groundbreaking VIP Preferred® account network, plus functions like eCheck and Choice 4™ deferred settlement, patrons can directly transfer funds from their VIP Preferred balance to their favorite game. In addition, VIP Mobility empowers casinos to overcome the limited capabilities of legacy technology to establish an authentic, consumer-centric approach to gaming and deliver an enhanced patron experience.
The Gaming Executive Panel also addressed some possible limiting factors for growth in 2022. The panel participants identified supply chain delays and labor shortages as the most salient issues concerning the gaming industry. Pavilion Payments’ VIP Mobility combats this by leveraging casinos’ existing infrastructure, eliminating the need to purchase additional hardware through the backed-up supply chain. By leveraging system-agnostic solutions like VIP Mobility, casino operators can reduce operational costs and ease the effects of labor shortages.
The Gaming CEO Outlook indicates that the gaming industry will likely continue to grow for the next several months. While the future is uncertain, industry leaders expect another year of growth in 2022. Pavilion Payments enables casinos to capitalize on this trend and grow in the new year.
Click here to learn how Pavilion Payments can help casinos grow in 2022.