The sports betting and online gambling industry is set to descend on Las Vegas next week, but there's a good chance that what happens at the Venetian Expo won't stay there.
If anything, it seems likely that this year’s Global Gaming Expo, otherwise known as G2E, will set the tone and direction for the business in the months that follow.
A new year means new opportunities to nudge states toward legal sports betting and iGaming, especially in key markets such as Texas, where the legislature only sits in odd-numbered years, and for a limited time.
Covers will be in attendance at this year's G2E and will report on as much as we can for our readers. For starters, the speaking schedule suggests expansion remains a focus for the industry, which only has so many mountains left to climb in the U.S.
Tuesday's keynote speech will feature Peter Jackson, CEO of FanDuel-parent Flutter Entertainment, and MGM Resorts CEO Bill Hornbuckle. Both companies are eyeing new markets at home and abroad.
“Peter and Bill are two titans of the gaming industry whose perspectives will illuminate where the industry is headed and set the table for the ideas and innovations that will be explored throughout this year’s G2E,” American Gaming Association president and CEO Bill Miller noted in a press release.
Tuesday Keynote speakers revealed!@BillMillerAGA, @AmericanGaming, kicks off the session and @CNBC's @contessabrewer follows on the future of gaming with:
— Global Gaming Expo (@G2Eshows) September 24, 2024
? Peter Jackson, Flutter Entertainment plc
? Bill Hornbuckle, @MGMResortsIntl
Don’t miss out ?? https://t.co/Rve8hswIw9 pic.twitter.com/LNSeEBlTn8
Also scheduled for Tuesday is a panel that will try to handicap the prospects of gaming-related legislation in the Lone Star State next year, featuring officials from Las Vegas Sands, MGM Resorts International, and FanDuel.
The NBA approved the sale of a controlling interest in the Dallas Mavericks to families who run Las Vegas Sands last year, which should give the operator a louder voice when it comes to pushing for casino legislation or sports betting in Texas.
FanDuel, meanwhile, made it clear at their recent investor day that their future lobbying plans will focus on "the big 3" states: California, Texas, and Florida. The online sports betting operator said its efforts would include "creating compelling messaging around the industry's economic impact (e.g. programs supported by our taxes" and "demythologizing the industry (e.g. avg bet size)."
Nearby California will no doubt be a topic of conversation at a gaming conference in Nevada. The first keynote speech of G2E will be held Monday afternoon, and involve several speakers from the Native American side of the gaming industry. Those representatives will sound off on "their unique perspectives, the challenges they navigate, and their plans for future growth."
? Monday Keynote incoming!
— Global Gaming Expo (@G2Eshows) October 2, 2024
The next generation is bringing new strategies to tribal gaming, blending tradition with modern approaches.
Explore the unique perspectives of visionaries from @IndianGaming85, @nnwodc, and more in this session ? https://t.co/f8eFUB8wKJ pic.twitter.com/yqzpjgWA6E
It’s widely recognized that the tribes will decide if, when, and how sports betting or iGaming will be legalized in the Golden State. That was settled in 2022, when a costly attempt by online sports betting companies to put legalization to voters went down in flames at the ballot box, helped in no small part by the extensive advertising efforts of the state’s gaming tribes.
Another panel on Tuesday involving tribal gaming leaders (including James Siva, the chairman of the California Nations Indian Gaming Association) will have "a specific focus on California tribes and leading online market players."
Flagging in case of interest
Moreover, on Wednesday, a session will be held discussing the landmark court decision known as West Flagler, which has seemingly settled the status quo for sports betting in Florida. There, the state’s Seminole Tribe has a monopoly over online sports betting and has taken full advantage with the Hard Rock Bet brand.
Some think the Florida model could be applied in other states where tribes are involved in the gambling industry, such as California or Oklahoma.
“Attendees [of the West Flagler session] will gain an in-depth understanding of the legal challenges posed by the ruling, its impact on current and future tribal gaming operations, and the potential pathways forward for tribes navigating this evolving landscape,” G2E’s website says.
25,000+ attendees, 350+ exhibitors, and only 7 days until we all join together!
— Global Gaming Expo (@G2Eshows) September 30, 2024
From education to exploration, don't wait to start planning your #G2E2024 experience. Get the full rundown on where you should be and when: https://t.co/CwO9iEqZqp pic.twitter.com/T2dV992RkQ
It could very well be that those in attendance at this year’s G2E will return to their home states with plenty of ideas. And, considering that last year’s event saw more than 25,000 "gaming professionals" flock to the conference, that could mean there will be a lot of heads that get filled with a lot of ideas.
The panels mentioned above are only the tip of the iceberg, as there are more than 100 sessions scheduled for the four-day conference.
There is also the potential for expansion outside the U.S., such as Brazil and Canada, and panels that could hint at the progress being made there. Brazil is preparing to launch a regulated and competitive iGaming market early next year, and companies such as Flutter and MGM are already positioning themselves for participation.
In Canada, the western province of Alberta is developing a similar regulatory framework and following in the footsteps of Ontario, which has a robust market for online sports betting and casino gambling.
On Wednesday, Alberta's iGaming minister, Dale Nally, is scheduled to speak on a panel at G2E that will "explore the continued potential for Canada’s iGaming market - including the upcoming Alberta opportunity."
Looking within
But there is still work to be done in existing markets, where lawmakers and regulators continue to tinker.
Several sessions at G2E will examine areas of interest there, such as the threat of tax hikes that looms over the industry. There will also be discussions about the challenges posed by illegal operators and the “sweepstakes” model of online gambling, which regulators are trying to get their arms around as well. Last year’s G2E featured plenty of talk about the rise of pick’em-style fantasy; since then, the topic has cooled as lawmakers and regulators have taken more of an interest.
Some operators will take advantage of the large gathering to make the case for their future success. Notably, ESPN BET-operator PENN Entertainment plans on holding an event for analysts and investors on Monday, updating those in attendance on how the relatively new brand is doing and its plans for the future.
“Initial ESPN Bet app downloads point to a subdued customer acquisition period for the start of the NFL season in new and legacy states,” Citizens JMP Securities analyst Jordan Bender wrote in a note to clients on Friday. “We believe management will need to lay out a differentiated, multi-year product roadmap involving key media integrations from the ESPN brand or run the risk of relying on free money to drive loyalty and market share with an elevated fixed cost structure.”
