Many have, and will continue to, speak of the potential long-term impacts that the current global pandemic will have across numerous industries and economies worldwide.
A variety of these topics across betting and gaming are to be explored in depth next week when 140 industry experts share insights on a number of difficult and crucial discussion areas at the SBC Digital Summit, to be held across five days from 27 April – 1 May 2020.
One of those participants on day two’s Leadership in Gaming track is Jan Urbanec, CEO of Endorphina, who said of the effect the COVID-19 pandemic has had on the igaming industry: “Since Endorphina is a technology company, the transition to working remotely was fluent and we retained the momentum that we had from even before the pandemic measures were implemented here in Prague,” he says.
“The industry as a whole seems to be managing things very well. The unfortunate cancellation of most sports events had an obvious effect on betting operators. However, the companies that diversified their product offerings did manage to mitigate their losses.”
Adding: “I believe that our industry is mature enough to not play on cheap marketing tricks and to risk damaging ourselves with opportunistic stunts. Established companies do not want to risk their reputation for short term gains.
“Unfortunately, some regulators – in Latvia for example, do not believe so and decided to take preventive measures in the name of protecting their population.
“Slots maintain their status as a risk vs reward machine and the correct way to approach customers in volatile times is to show them that games are still the same. This is something they can rely on for their entertainment purposes.”
“There is a fear that economic damage can cause revenues to drop”
With the potential lasting effects proving to be a key focus area for many, the effective development of future strategies could be defining for many, particularly when the sports world gets back up and running, with a multitude of large scale events scheduled during the next 18 months.
“There will be long-term growth. New players that were forced out from land-based operations will begin to migrate to entertainment from their homes,” Urbanec explained.
“I believe that the convenience and quality of online products will win them over in the long-run, and those players will stay online after all the protective measures will be lifted.
“There is a fear that economic damage can cause revenues to drop. This may be a short-term issue since what we see is a massive push to move the whole economy online.
“Workforces are beginning to manage their jobs remotely and automation is now one of the key goals of producers. This is a benefit for our industry.”
With travel and working restrictions severely limiting interconnection, and traditional conferences quickly becoming a distant memory, how important are digital offerings moving forward?
“Digital conferences will play a key role in the communication in the industry during the upcoming months. The defining factor of their success will be the format, organisation, and innovative approach to networking,” it’s added.
“I am looking forward to the energy of a conference and to people’s drive to communicate and express their thoughts”
“Anyone who will be able to put together a conference that can closely emulate networking coffee breaks will be highly praised and their model will be replicated.
“The expos, media, and conference organisers that can adapt to this situation will be the ones that will get to organise traditional events after restrictions are lifted.”
Urbanec’s place at the Digital Summit commences at 1:30pm-2:10pm (UK) on Tuesday 28 April, alongside Ewa Kazmierska, COO of EnergyCasino, Neill Simpson, brand director of William Hill International and James Bennett, director of Square in the Air, on ‘Marketing Slots in the new Environment’.
Commenting on the hopes and key takeaways from the week-long event it was concluded: “The variety of approaches, innovations, and ideas that the leaders in the industry will soon share. But for the most part, I am looking forward to the energy of a conference and to people’s drive to communicate and express their thoughts.
“I am sure that a lot of self-isolated professionals are excited to participate in this event to reconnect to the industry, their partners, suppliers, clients and, most of all, friends.”
Find full details of the SBC Digital Summit, including information about how to register and discounts available on company group passes at the event’s official website: https://sbcevents.com/sbc-digital-summit/.
To enquire about sponsorship opportunities or exhibiting at the event, please contact [email protected].