The SBC Summit Latin America 2024 has officially opened its doors at the iconic Seminole Hard Rock Hotel & Casino in Hollywood, Florida, kicking off what promises to be an unforgettable finale for this esteemed event. Running from October 30 to 31, this year’s summit is set to attract 4,000 visitors from across the globe, all eager to explore the burgeoning landscape of online gaming and sports betting within the Latin American market.

A Star-Studded Agenda

This year’s summit provides a plethora of opportunities for learning and networking, featuring a dynamic agenda filled with notable speeches and breakout sessions. Highlighting the event is the keynote address by soccer legend René Higuita, who will share his insights on the transformative potential of sports sponsorships. Adding to the excitement, Colombian motorsports star Tatiana Calderón will also take the stage, discussing how sporting partnerships can drive innovation and engagement.

Participants can look forward to an extensive assembly of over 200 industry leaders and speakers scheduled to share their expertise across three distinct stages. The conference encompasses six educational programs covering critical areas including Sports Betting, Media, Affiliates & Advertising, and Emerging Markets & Technology.

On the regulatory front, Brazilian Senator Irajá Abreu will outline the essential steps operators must take to secure casino licenses in Brazil, addressing a topic of paramount importance as the online gaming market continues to evolve rapidly.

Exhibition Insights

The exhibition hall is another key feature of the summit. Home to more than 70 leading regional and international brands, the exhibition showcases the latest products, games, and services, offering invaluable networking opportunities for attendees. Participating businesses include industry giants such as Evolution, BetConstruct, and Pragmatic Play, presenting a unique chance for professionals to engage directly with marketplace leaders and innovators.

Attendees will have opportunities to participate in meaningful discussions with platform providers, game developers, and payment solution experts, enriching their understanding of the current market dynamics.

Networking: Building Lasting Connections

One of the standout elements of the SBC Summit Latin America has always been its emphasis on networking. The organizers have curated a range of exclusive evening events, including a Networking Party at Chase Stadium, home of Inter Miami. This event, hosted in the presence of sporting luminaries, features live entertainment and ample opportunities for professionals to forge new partnerships.

Opening events commenced with a vibrant party at the DAER Day Club, showcasing live music, complimentary drinks, and sumptuous canapés, setting the tone for a thrilling summit experience. Participants can anticipate a Halloween-themed farewell party on October 31, providing a festive atmosphere to conclude the event.

With 1,300 operator representatives in attendance, of which 43% are high-level decision makers, the summit presents an unmatched platform to foster relationships, exchange insights, and gain a comprehensive understanding of the growth potential in the Latin American gaming sector.

The Future of SBC Events

It is essential to note that the 2024 edition of the SBC Summit Latin America marks the final appearance of this specific event in its current format. In a strategic shift, the SBC aims to consolidate its impact by moving the show to Fort Lauderdale in 2025, combining SBC Summit Latin America and SBC Summit North America into a rejuvenated brand: the SBC Summit Americas. This exciting transition signals an evolving and expanding future for the SBC.

In Closing

The SBC Summit Latin America 2024 is emblematic of the exponential growth and innovation that characterize the online gaming and sports betting sectors in Latin America. With a perfect blend of networking, education, and entertainment, this summit not only prepares attendees for immediate opportunities but also sets the stage for the future of the industry. Participants poised to take advantage of this extraordinary gathering will undoubtedly leave equipped with new knowledge, connections, and inspiration as they navigate this evolving landscape.

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Las Vegas, once synonymous with high-stakes gambling and luxury resorts, finds itself evolving to meet the needs and interests of a new demographic: millennials and Gen Z. The recent Global Gaming Expo (G2E) showcased the industry’s dedication to transforming the gaming landscape, highlighting how technology and innovative experiences are drawing younger visitors into the fold. A shift in marketing strategies and service offerings is set to redefine the future of casinos in Sin City.

Shifting to Attract Younger Audiences

As the demographics of casino-goers evolve, industry leaders are acutely aware of the changes necessary to maintain relevance. MGM Resorts International President Bill Hornbuckle remarked on the gaming industry’s struggle from a decade ago: “A decade ago, the gaming industry was trying to figure out why we weren’t appealing to younger generations.”

Fast forward to today, MGM is taking proactive measures to address this challenge. One innovative initiative includes the introduction of a "Family Feud" game, designed specifically to engage digital audiences. This represents MGM’s foray into transforming popular television formats into interactive gaming experiences. Additionally, the trend toward live gaming continues to gain traction, with Hornbuckle pointing out that live broadcasts of roulette games are becoming a staple at venues like the Bellagio and MGM properties.

Sports Betting and Younger Customers

One of the most compelling drivers of younger visitor engagement is the rise of legalized sports betting. According to the American Gaming Association (AGA), sports betting contributed an impressive $11 billion in revenue in 2023. Notably, nearly half of online gaming participants are in the 18 to 34 age bracket, illustrating a significant demographic shift that cannot be ignored.

AGA President Bill Miller has been vocal about the importance of this generational change. He emphasized, “This is a huge shift for the industry, and it’s one that we need to keep driving to stay on the growth trajectory.” The average age of casino visitors has dropped notably from 50 in 2019 to 42 today, reinforcing the need for the industry to adapt and innovate.

FanDuel and Expanding Markets

Flutter Entertainment, the parent company of FanDuel, is at the forefront of fostering younger audiences’ interest in sports betting. Flutter CEO Peter Jackson revealed that the company now boasts approximately 17 million customers and generated $12 billion in revenue for 2023 despite facing a net loss of $1.2 billion. With a keen eye on growth, Jackson sees immense potential in the American market and is actively exploring international opportunities, most notably in Brazil, where Flutter has acquired a majority stake in a sports betting company.

Investments in Sports and Entertainment

Nevada’s commitment to bolstering its sports infrastructure is pivotal in attracting fresh crowds to Las Vegas. The state has channeled substantial public funding into sports facilities, accommodating major teams like the NFL’s Raiders. Moreover, the MLB’s Athletics is set to relocate to Las Vegas in 2028, signaling a broader strategy to reposition the city as a destination not only for gambling but for live sports and entertainment as well.

Changing Consumer Preferences

The global pandemic has reshaped consumer behavior, particularly among millennials, who are increasingly valuing live experiences over material possessions. Hornbuckle highlighted this cultural shift, stating, “I’ve been hearing that literally from the 1980s,” as he reassured that Las Vegas will continue to grow and adapt.

Hornbuckle noted that millennials, now the largest generational cohort, are fundamentally experience-driven. He expressed a clear distinction in priorities, remarking, “I like stuff. I like cars, I like my stuff. My daughter likes her friends. They travel, they do things that I would never have contemplated spending that much money on at that age.” This experience-centric mindset has firmly positioned Las Vegas as an appealing destination for those seeking more than just traditional gaming.

MGM’s Global Expansion

MGM’s ambitions are not contained within U.S. borders; the company is also eyeing international expansion. MGM has formally applied for a casino license in the United Arab Emirates and is investing heavily in a $10 billion resort in Osaka, Japan, slated to open in 2030. Hornbuckle expressed excitement about the potential for BetMGM to expand further into global markets, including the UK, the Netherlands, and Brazil.

Meanwhile, the resurgence of Macau as a major gaming destination is also on MGM’s radar. Hornbuckle noted the influx of nearly 993,000 tourists post-Golden Week holiday, indicating a market recovery. He acknowledged the complexities of each international market, stating, “Each market is unique. China is unique.”

Conclusion

The Las Vegas gaming industry is undergoing a transformative period, with clear steps being taken to engage younger generations. From innovative gaming adaptations to the booming sports betting market, the strategies discussed at G2E showcase a deliberate pivot toward an experience-driven future. With investments in sports and entertainment alongside global expansion, Las Vegas is poised to redefine itself not just as a gambling capital, but as a comprehensive entertainment hub that resonates with the values of the modern consumer.

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