The Importance of Investing in Online Technologies

The Importance of Investing in Online TechnologiesToday online bingo and gaming sites have to work hard to acquire each player. The competition is keen and operators are spending millions on marketing. At some companies there have been disagreements between traditionalists who want to focus on traditional land based casino gaming and those in favor of focusing on internet gambling. At slot manufacturer International Game Technology the dispute has been ongoing and now the factions are locked in a fight over board seats. International Game Technology chairman Philip Satre said the company has to invest in online games because young players don’t gamble as much as their parents. Satre told interviewers “They won’t sit at a machine for two hours or three hours. It is to me one of the biggest single challenges for the gaming industry, having products that are relevant to this new generation.”

Satre’s statements can be verified by a visit to any casino. Most casinos have row upon row of slot machines but it is rare to see young people sitting for any length at the slot machines. Most young players grew up playing video games and to attract the younger crowd game manufacturers are going to have to design games with similar features to video games. Some companies specializing in the development of online slots have gotten the message and are creating slots that incorporate video game features.

Many expect IGT’s move into online slots will be the focus of a battle at an upcoming board meeting March 5th. Jason Adder, a New York money manager and former casino analyst, has proposed three nominees that believe the company has neglected its core business and has wasted time and effort on internet acquisitions. Baby boomers are IGT’s core player constituency. Unfortunately boomers are gambling a lot less these days. Satre pointed out that young people spend money on nightclubs, upscale restaurants, shows and some casino games. Satre also said that Nevada and New Jersey are ready to offer residents legal online gambling.

Satre, who has extensive casino experience, said that the acquisition of companies like Double Down last year provided IGT with needed technologies. IGT acquired Double Down for $500 million. The company specializes in developing casino like games for sites like Facebook. It is clear that the faction led by Satre realizes the importance of investing in online games and the technologies behind them and hopefully his faction will prevail.

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