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(wow) Words Of Wonders Level 1220 Answers – Learn about six key trends that will help you transform your casino technology initiative into a casino-as-a-platform strategy.

Turn trends into technology opportunities by identifying which technology your casino should prioritize and aligning its benefits with your business goals.

(wow) Words Of Wonders Level 1220 Answers

After each IT experience, we ask our members to quantify what helped them achieve real-time savings, monetary impact and program improvements. See what our top members have to say and what our customers have to say about this design.

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Analyst's View In a recent interview, John Acres, founder of Acres Manufacturing, talked about a meeting he had with a major casino operator. In the interview, he held up a brick phone from the 1990s in front of executives and said, “I believe it represents the state of the art in casinos today.” Then he pulls out his new iPhone and says, “This is what I need.” you go This is where we should be. If we're not in this new age, we're nowhere near the income we should be.”

Many casinos have experienced slow progress and change, adapting to the needs and preferences of players. As many casinos face the challenges of the pandemic and meet consumer expectations, operators aim to future-proof casinos by taking advantage of the many opportunities to increase revenue and increase wallet share. With digital transformation in mind, casinos need to understand what innovative products and solutions are needed for business expansion and industry survival. IT's role is to help their casinos implement the technology, considering the long-term technical and business impact.

Info-Tech's approach focuses on the analytical pursuit of strategic foresight, an approach that helps IT and the business address what is happening in the organization's external environment by driving ideas and identifying opportunities. As a method, strategic foresight goes from identifying signals to combining signals to create trends and uncovering factors driving trends to identify factors that are most likely to lead to strategic initiatives leading to industry-wide success.

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Operators are still feeling the effects of the pandemic as they mainly struggle with labor and skilled labor shortages as well as customer health and safety concerns. When asked, MGM Chief Financial Officer Jonathan Halcard said that before the pandemic, the had 4,750 full-time employees, but “Today, we're down to 3,000 people. We're not going back to 4,750 full-time employees.” The massive learning (and investment) caused by the pandemic has forced companies like MGM to rethink how they think about jobs, services and products. (Escobar, 2021)

During the pandemic online gaming greatly outpaced the brick and mortar gaming presence and casinos worried that it could cannibalize the land-based business. If anything, online gaming has made brick-and-mortar operators more vigilant and those already deployed online more resilient. Everyone and everything is going online, so the answer seems to be to take advantage of the “digitalization” of your field. There's a lot of demand for going out, socializing, and entertaining, so when players return to brick-and-mortar casinos, they shouldn't be disappointed by what they see.

Operators must pay attention to what is happening in the external environment, which directly affects what changes are made within the four walls of the casino.

We need to remember why people go to casinos: guests want the social element, the feel of the chips, the fun interactions with the staff (ie dealers, slot attendants, cages and loyalty), the thrill of escaping and winning, and the overall vibe. In the end, brick-and-mortar casinos still have one big advantage over online casinos—the experience. The live casino experience is at the heart of the business. Therefore, decisions taken by operators should be consistent with this.

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These three include the general needs and expectations of users or gamers. To hit the trifecta, casinos need to invest in technology within the casino.

“In the next few years, we have many opportunities to innovate to truly integrate the digital and casino experience. We need to make sure we live up to those dreams and expectations so people keep coming back for more.” (Damian Connelly, Casino Life Reporter (Connelly, 2021.))

The first step is for operators to see the value in casino technology. According to the American Gaming Association, respondents to the Gaming CEO Outlook report (50%) plan to make additional capital investments in hotel and restaurant facilities in 2022.

According to the responses, the outlook for casinos is not positive with overall low investment indicators for slot machines (43%), bookmakers (29%) and table games (14%).

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Investing in casino technology has many potential benefits, but unfortunately there is too much caution and little interest in the transformative disruption of casinos. To be successful, operators must evolve and adapt to change in the casino space. This trends report examines emerging and emerging trends in the info-tech casino space and determines strategic moves that will most likely lead to industry-wide success.

This presents a challenge for casino IT departments that have not reached the maturity level of a “business partner,” and the CIO must climb the maturity ladder to help the CEO secure growth.

Based on the 2021 GHRC benchmark, Info-Tech's Maturity Ranking of the Industry has rated it as “Trusted Operator”. CIOs at this level can play a role in digital transformation by improving back-office processes, but they must aim for a higher purpose.

A CIO at the “business partner” level helps directly grow revenue by improving customer-facing products and services, while a CIO at the “innovator” level helps fundamentally transform the business and generate revenue in new ways.

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IT innovation leadership, business applications, and customer-facing technologies are considered less valuable services due to their lower importance and satisfaction metrics. In addition, the heavy focus on infrastructure from the perspective of IT staff indicates that the industry is lagging on the IT maturity scale as a reliable operator. By leveraging casino technology for new digital capabilities and focusing more on applications and strategies, your casino has the opportunity to demonstrate the value of IT and the satisfaction it can provide. Ultimately, your IT department can build credibility with business partners and scale as a transformational or evolutionary innovator.

Casino operators must take necessary steps to achieve the desired status. The digital transformation of casinos is fundamental to this inevitable expansion. The pace of change needs to be monitored and assessed. Those who are slow to adopt expansion are too late and have already missed out on potential opportunities to increase revenue and guest satisfaction and have to rush to catch up.

Ideal state – a comprehensive digital casino ecosystem and experience platform and fully embracing all the trends that make it possible:

Casinos have fewer employees, but these employees are trained and qualified to focus on player experience, value creation and loyalty building. Eliminating mundane task transactions and taking advantage of automation opportunities creates a welcoming environment and differentiates the casino experience.

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Casinos encourage more time spent on the devices by offering a variety of games that appeal to different types of players and people. With digital marketing and hyper-personalization in mind, casinos can also offer automated promotions that encourage longer spending on equipment and coins by taking into account player budgets, personalities, wins and losses, and betting patterns.

By providing the connectivity companies need, casinos can expand their product offerings to meet consumer expectations and preferences. Players are free to decide what to play, where to play, which currency to trade with and how to trade. Another focus is on non-gaming facilities to turn users into casinos, where games can be fully downloaded and customized to the player's personality and preferences.

Turn your casino technology plan into a casino strategy to enable the casino of the future by connecting two overlapping systems:

As casinos embrace new technology and innovation, they must remember that hospitality has always been about people. A casino-as-a-platform strategy starts with operator needs, but ends with creating and improving a player-centric experience.

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Casino as Platform: IT Essentials What does a business need to successfully transform its floors digitally?

Enabling data, open APIs and integrations are essential first steps to becoming a casino “platform” as it enables accessible data points, greater functionality, better understanding of guest preferences and capabilities.

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