ALC backs lotteries as a ‘key economic engine’ of gaming industry

ALC backs lotteries as a ‘key economic engine’ of gaming industry

Monday, March 16, 2015

Phil Holmes, vice-president of strategy and planning at the Atlantic Lottery Corporation, has spoken out in support of lotteries by stating that they are still a “key economic engine” of the gaming industry.

With various new forms of gambling now available to consumers, some believe that more traditional services such as lotteries face an uncertain future.

Speaking to TotallyGaming.com, Holmes said that lotteries and lottery-type games still have a major role in the modern gaming industry, but also admitted that the balance of power is beginning to shift and lotteries need to adapt to these changes. 

“Lotteries are still a key economic engine of the gaming industry…although the balance is beginning to shift,” Holmes told TotallyGaming.com.

“A key question for gaming companies to consider is ‘what will lotteries do next?’ As revenues for traditional lotteries begin to decline, they will respond and evolve in order to maintain or grow their revenue streams.

“How they evolve and the operating models they adopt could be a significant threat to both established and new gaming companies.

“Lotteries have not changed significantly over the years. For the most part, the products being delivered now would be easily recognised by customers from 40 years ago.

“To remain successful, it is imperative that lotteries closely couple their product portfolios to evolving player preferences and to the trajectory of the industry. If they fail to do so, it will accelerate their level of irrelevancy and hasten their decline. 

“I think there will always be role for tradition forms of gambling – even if it is eventually just as a niche.”

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