With some casinos quickly hopping aboard the online gambling bandwagon, others are asking investors not to be so hasty when it comes to throwing around their money.
While many online versions of leading casinos will help rake in some new profits, this arrangement could still very well damage the bottom line for myriad gaming companies and casinos over the long run.
As more and more people flock to the Internet for gaming as opposed to visiting an actual land-based casino, the fear is that profits made off of drinks and hotel stays, for example, will begin to drop, and they will not be recouped with the profits generated from online gambling alone.
For casino marketing professionals, driving gamers online and on property are not easily reconcilable goals.
According to a freshly published report from Caesars, the hospitality, entertainment, and gaming empire says that it will “offer online gaming options that compete with our live poker offerings in Nevada and New Jersey. Expansion of online gaming in Nevada, the commencement and expansion of online gaming in New Jersey and the introduction of online gaming in other jurisdictions may further compete with our operations. Online gaming may reduce customer visitation and spend in our traditional casinos in Nevada and New Jersey, which could have an adverse impact on our business and result of operations.”
Less money coming into the casino also means fewer jobs and less revenue for those states that are famous for hosting these casinos.
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