Event

World Gaming Executive Summit 2011

Madrid – Spain

Event Information

 

Madrid Executive Summit 'at the cutting edge'

The World Gaming Executive Summit traditionally sees the most influential names discuss issues at the very cutting edge of gaming - and once again this year's event didn't disappoint.

The two-day conference held in Madrid, which closed on Thursday, featured a keynote address by the chairman of the American Gaming Association, Frank Fahrenkopf, who discussed the obstacles to the legalisation of online gaming and the possibility of a new bill later this year.

Naturally, the US dominated the agenda during many of the gaming debates, much to the irritation of one or two delegates and panel members who attempted to steer the discussion back to Europe. However, what was evident were the steps already being taken by both online and offline companies to prepare for legalisation.

In previous years, much of the debate has centred on the seemingly divergent fortunes of bricks and mortar casinos and their land-based counterparts. The two worlds now appear to be setting aside their differences and acknowledging that rather than targeting two distinctly different customer groups, they cater to the same player but across numerous platforms.

 

Land-based casinos are exploring the opportunities offered by online gaming, while online companies are keen to leverage the strengths of bricks and mortar brands.

 

The issue of regulation - particularly in Europe - was again one of the key topics for discussion and remains a stumbling block for the process of convergence between the two industries. Casinos argue that new tax regimes for online businesses are dangerously low compared to their own, while online operators continue to be frustrated by the barriers - such as local monopolies - put in their way by individual governments.

 

Harmonisation is the ultimate goal, but most who spoke at the event felt this was, for the time being at least, unlikely to become reality.

 

The final day's debate was largely concerned with the rise of social media and whether it poses a threat, creates new opportunities or is simply a passing phase. The general consensus was that both offline and online businesses can take advantage of these new marketing channels to reach their existing customer base and to attract new players, but there remain a number of question marks over whether the likes of Facebook will become direct sources of gaming revenue.

 

Overall, WGES 2011 proved to be another successful event, covering an even broader range of industry sectors this year. If organiser Terrapin can attract the same calibre of speakers and delegates to the conference next year when it relocates to Barcelona - a move likely to be welcomed - it will surely be a must for gaming executives.

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