US-based gaming CEOs surveyed by the American Gaming Association (AGA) have expressed confidence in the industry’s continued recovery as the country emerges from the COVID-19 pandemic.
The survey, in partnership with Fitch Ratings, reflects the views of 24 AGA member CEO respondents, providing a snapshot of the current and future economic health of the industry based on executive sentiment, casino visitation plans, gaming revenue and other economic indicators.
Highlighting improved sentiment compared with recent years, the survey found that 67% of respondents rate the current business situation as “good”, up from 54% six months ago, with none describing it as “poor.”
Four in ten CEOs also expect the industry’s business climate to improve over the next two quarters compared to 13% that expect business conditions to worsen.
“Gaming executives are signaling confidence in our continued recovery that is in line with record-setting consumer demand for gaming,” said AGA President and CEO Bill Miller. “I’m optimistic that 2022 will see the return of a true sense of normalcy for gaming.”
Amid their main concerns around possible impediments to business growth, 75% of CEOs cited supply chain issues, 67% inflationary and interest rate concerns and 54% labor shortages.
Notably, COVID-19 and demand for meetings and events are no longer among the top five concerns for gaming CEOs.
“Like businesses across the country, our industry is grappling with supply chain, labor and inflation challenges that, if left uncontrolled, could dampen our continued growth and economic outlook,” said Miller.
The rising sentiment among American gaming CEOs reflects the nation’s ongoing efforts to live with COVID-19, with the US government having lifted a near two-year travel ban on international arrivals in November. All major US airlines this week lifted mask mandates for passengers in what is seen as yet another step forward.