IGB Webinar Do land-based operators need a digital fallback? held yesterday

The seminar was moderated by Brendan Bussmann, Partner, Dir of Government Affairs, Global Markets Advisors, and speakers were: Wolfgang Bliem, CEO, Grand Casino Luzern, Kkresimir Spajic, SVP & MD, Online Gaming and Sports Betting, Hard Rock Int'l, Seth Young, Chief Innovation Officer, PointsBet.

"Our focus hasn't changed at all. As a company we are very well situated. We are coming out stronger. We will continue making partnerships. We do see a light at the end of the tunnel, we have to prepare to be ready to come back," said Seth Young.

Wolfgang Bliem affirmed: "We have had a rocky start and we had success to join a variety of game providers, payment providers, platform partners, which allows us to be first in the market. We are working properly from the very first day of operations. As a land based operator, you are highly qualified when it comes to responsible gaming and anti money laundering, and those are very important assets to go online."

Then, Bussmann asked how to continue with the online platform, and Kresimir answered that in US it depends on each state and their regulations, and that a possibility to enlarge their loyalty is to introduce easily their online products into their audience. "At that point, we keep evolving: We want to operate a 360-grade entertainment experience to our customers (restaurants, hotels, casinos, live events). We have everything in our portfolio."

Besides, Bussmann asked about the transition from brick and mortar to online operations. Bliem answered: "We have hit the challenge in Switzerland, where there are 4 official languages. We put our core values into this brand, we are trustful, we bring security, liability; we are a number-one when customers have to choose a platform. It took us a long time and we are happy we are performing very well."

Young added: "Foxwoods is a social casino. We received a tremendous uplift from the customers side."

Kresimir then highlighted that brand relevance and brand trust are specially important. "People like when online gaming connects with a brick and mortar brand. You have to be very sensitive on how you connect the customers. We have to see how we translate these values into the online world."

After that, Bussmann asked the speakers which would be the ideal partner profile. Bliem assured: "You have to be aware in which regulation you are in, and also look at the competitors and the environment. The most important thing is responsible gaming. You have to evaluate different business models to choose the right partner, and find a partner who shares the same values when it comes to operation, responsible gaming and compliance."

Young then commented: "The difference between a vendor and a partner is that the vendor sells a product, and the partner might tell you the truth. Every organization is different. You have to find someone who not only provides a service but also is honest with you."

Kresimir agreed with the previous speakers, and added: "Sustainability of the business is very important at this moment, with coronavirus epidemic. You need expertise and understanding. The more you grow, the more ownership of the platform you have to have."

When asked about the ideal regulatory structure, Seth Young said: "We are reconverting an existing market. They already have great products. Every state in the country is like a different country. What you need is: Low taxes and a good competitive structure, to show the integrity of betting, letting the operators invest and compete, and considering consumer protection."

Wolfgang Bliem assured: "Focus has to be on responsible gaming, anti money-laundering and maximization of revenue. We, as an industry, are highly exposed and vulnerable. Media says that we are not doing enough and legislation has to ensure our integrity." Kresimir affirmed: "I would add the channels (for example, in some jurisdictions mobile is not allowed) and I would focus on consumer experience."

"I would invest heavily in US, followed by Latin América, which is getting regulated and is another good opportunity," concluded Kresimir.