Bright Future For Canada’s Gambling Market
At the moment, Canada has been focusing on positioning itself as an alternative gambling hub in North America. However, with Las Vegas just hours away, the country will need to work exceptionally hard in order to compete with what is arguably the most famous gambling destinations in the world. Vice President of the Canadian Gaming Association, Paul Burns, has noted that the government and stakeholders have paired up to guarantee the success of the gambling industry, while also attracting large numbers of new visitors to play within their jurisdictions. Just weeks ago, the Ontario Lottery and Gaming Corporation (OLGC) awarded a consortium of Brookfield Business Partners LP and the Great Canadian Gaming Corporation a new license to operate gambling venues in Toronto – a venture that is estimated to produce over $788 million in revenues. According to OLGC, the corporation handed the license bid for the casino’s operation to a private company in order to bolster gambling revenues in the province.
Rapidly Changing Tech Industry’s Biggest Challenge
Burns commented on the landscape of the Canadian industry in an interview with CalvinAyre.com, noting that significant capital investments can be seen coming to the local casino industry within the next few years as new casinos are being developed in Ontario and other gambling revenues across the country are renovated. This, he said, will be exciting to see, as Canada is seeking to reinvent its gambling market and reengage its customers with numerous new offerings in line with the industry’s latest innovations and products. While the future of Canadian gambling looks bright, Burns has noted that the industry is not without its challenges. He cited constantly changing technology and the rapid pace of these changes as being one of the most prominent challenges that the industry faces. The expert explained that Canadian regulations must always stay ‘ahead of the curve’ when it comes to new technological developments in order to ensure growth concurrent with safety for all of the industry’s players.
Canada to Reinvent Its Industry To Meet Millennial Needs
Burns also said that changing demographics in Canada will also give regulators extra challenges to overcome, as a large proportion of Millennials are far less interested in gambling in general than the Baby-boomer generation has been. In order to truly understand how to engage with Millennials and build strong relationships is crucial, he said, noting that he thinks operators are currently trying to find new ways to build customer experiences players enjoy, which will make them more likely to continue visiting casinos in the long run. Nevertheless, the future is bright according to Burns, who noted that the industry is hopefully going to incorporate far more challenging and diverse products that meet the challenges of giving a new generation of customers exactly what they are looking for in their gambling experiences.