STATESIDE STATESIDE
Stateside H
Sharon Harris is feeling good about the future, as she reaches for some supporting stats
appy New Year. This is the best I’ve felt about world health and economic conditions in almost three years. I hope that wherever you are as you read this, you have found relief from the drudgery and negativity
experienced worldwide. Now, for the good news and there is plenty of it across the U.S. Who knows more about what is actually going on than the casino executives? A late summer survey revealed that 68% of 26
responding CEOs-who represented many major national gaming companies with numerous properties-had a positive outlook on current business conditions. For many, the second quarter, from April 1 through June 20 earned record revenues. Almost all, or 92%, remained confident about a bright
future. The eight percent who were the naysayers seemed irrelevant to the overall mood of the executives. With so many wagering outlets generating income, including in-person, online and sports betting, I expect they believe that if one component slips, another will pick up the slack. The four professional American sports leagues- football, baseball, basketball and hockey-spread the activity out all year. Currently more than 30 states operate sports betting in some form and are contributing billions in tax revenues to their respective jurisdictions. However, nothing is ever perfect and neither are these
results. Hidden, uncontrollable factors continue to create uncertainty. Almost equally of concern to two- thirds of the respondents are supply chain issues, inflation and interest rates. Most consumers would add labor shortages and poor
8 JANUARY 2023
employee training to the list, in addition to having less discretionary money to spend. After three critical years, which AGA President/CEO Bill Miller could never have predicted when taking the job, he is smiling. Miller said, “Looking ahead, future consumer confidence and spending remain an outstanding question for our continued growth.” Part of the confidence are the building, renovation and complete reconstruction projects that are altering skylines everywhere. This year, look for one iconic brand in particular to replace another iconic brand. After flying into Ft. Lauderdale, Florida last month, I
rented a car at the airport. From the parking lot, I saw the Hard Rock’s iconic guitar hotel in the distance. Its Hollywood, Florida location is near Ft. Lauderdale and there is no missing how amazing it looks. The guitar shape stands out from any direction.
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