Wynn Resorts CEO Advocates for Growth-Focused Conversation in US iGaming Market

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The ever-expanding world of iGaming continues to spark discussions, with a prominent topic being potential market cannibalization by new entrants. However, Craig Billings, CEO of Wynn Resorts, a renowned name in the casino industry, is urging a shift in this narrative.

In a recent industry event, Billings  aimed at what he called the “reductive” focus on cannibalization within the iGaming market. He argued that the conversation should instead center on growth opportunities and collaboration within the expanding iGaming landscape.

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Understanding the Cannibalization Debate

The cannibalization argument suggests that the introduction of new iGaming operators simply takes away market share from existing ones, leading to a stagnant overall market size. This perspective often leads to concerns about oversaturation and a race to the bottom in terms of pricing and offerings.

Billings’ Counter-Arguments

Billings challenges this view by highlighting several key points:

Market Expansion: The iGaming market, particularly in the US, is still in its early stages. There’s a significant untapped potential for growth, with new demographics and consumer segments constantly emerging.
Rising Tide Lifts All Boats: A rising tide of interest in iGaming can benefit all established and new players. Increased awareness through marketing efforts by new entrants can ultimately attract more people to the market, creating a larger pool of potential customers for everyone.
Focus on Differentiation: Competition breeds innovation. With more iGaming operators in the market, there’s a stronger push to develop unique selling propositions, better user experiences, and a wider variety of games and offerings. This ultimately benefits consumers with a more diverse and competitive marketplace.

Collaboration is Key

Billings suggests that collaboration between established and new players can be a powerful driver of growth. Sharing best practices, responsible gaming initiatives, and fostering a healthy competitive environment can lead to a more sustainable and prosperous iGaming ecosystem.

The Takeaway

The conversation surrounding iGaming should move beyond a limited view of cannibalization. By focusing on the vast potential for market growth, fostering innovation through competition, and exploring collaborative efforts. The US iGaming industry can reach new heights and provide a superior experience for all stakeholders, from operators to consumers.

This shift in perspective, as championed by Billings, can pave the way for a more vibrant and successful iGaming market in the US, benefiting both established players and the exciting wave of new entrants.

Author: Christopher Sanchez