Online Casino trade outsmarts brick-and-mortar establishmentsTuesday, Aug 30, 2016 10:42
This trend is evidenced by the increase in annual revenues of online casinos, from 7.4 to 37.6 billion dollars, within a mere ten years, from 2003 to 2013. These figures are set to grow for the foreseeable future. Mobile technology adds a further revenue stream to the sector, which is thriving due to relatively low costs.
This shift from brick-and-mortar gambling to online casinos has made itself felt in cities renowned for their casinos – even in Las Vegas. Donald Trump’s casino chain filed for insolvency in 2014. Both Atlantic City and Macau casinos have been struggling for survival over the past years.
Las Vegas’s casinos, and other well-known gambling establishments, such as Spielbank Baden-Baden and Monte Carlo Casino, have developed into, what can be described as, a ‘holiday gimmick’. Holiday-makers, who are not per se gamblers, visit casinos while in the vicinity. This type of customer is less likely to continuously spend money at a casino over the duration of his stay, resulting in fewer profits for casinos.
Online casinos offer players apps, alongside their desktop casino versions. This has led to a revival of casino games such as Texas Hold’em, which as a result of technology has become a much faster game than its brick-and-mortar counterpart.
Furthermore, online casinos can provide many more games than conventional casinos, which need to make physical room, removing another game, if they wish to provide players with the latest game. The choice is endless, with new games, provided by IGT, Play n’Go, Net Entertainment and Microgaming, released every few weeks. These are available around the clock and often complemented by a good welcome bonus.
How can brick-and-mortar establishments catch up?
It is critical that casinos re-think their concept. Players prefer no entrance fees, players have also moved away from a desire to adhere to a strict dress code and have shown a preference for Las Vegas-type glamour, which is dressy, yet comfy. In order to survive, brick-and-mortar establishments may want to consider expanding their services and offers, to create an entertainment heaven.