Sydney Casino Industry
The search for Sydney from March 2021 result following trade fairs: NoVacancy Hotel + Accommodation Industry Expo Sydney, Hospitality Design Fair Sydney, franchising expo Sydney, Reed Gift Fairs Sydney, Fitness Show Sydney, Design Build Sydney, GPCE Sydney, Naturally Good Expo Sydney, Good Food & Wine Show Sydney, Foodpro Sydney, AFAC powered by INTERSCHUTZ Sydney, Healthcare xDesign Sydney.
With the passing of time, the gambling and gaming industry has exhibited numerous transformations over the course of the past decades. Now, in the modern world, these changes remain and have evolved to include technological advancements. With the commencement of cryptocurrency in casinos last year, many forecasts that this year should be another interesting one that is set with new trends to redefine and transform complete areas of this huge industry. Hereunder are some of the top gambling and gaming trends for online and real casinos in 2021 and the top statistics which may impact the entire casino industry:
Crypto Set to Dominate Around the Gambling World
Cryptocurrencies will continue to dominate the gambling industry, with many online platforms accepting the crypto this year. Many people enjoy and prefer these transactions from deposits, withdrawals, and gameplay in Bitcoin and other digital currencies because of security and anonymity. Traditional payments will still remain an option for the biggest gambling sites, but now, cryptocurrencies are slowly replacing these old methods because many just prefer being anonymous and untraceable, especially with something as sensitive as gambling. On top of that, the added security of crypto makes consumers feel more at ease because identity theft and hacking are minimized. Thus, crypto has grown to become the prime and preferred choice for many gamers, and it will continue to be this way for the forthcoming years.
Markets Hotel is located in Homebush, 8.1 mi from Sydney. Guests can enjoy the on-site restaurant. Each room at this hotel is air conditioned and comes with a flat-screen TV. You will find a kettle in the room. There is a cash machine at the property. You can play billiards at the hotel. Penrith is 23 mi from Markets Hotel, while Richmond is 26. Casino is serviced by Lismore Airport with several daily flights to Sydney. Northern Rivers Buslines operates rural services to Lismore (670) and Kyogle (675) each weekday, with one return service to Tenterfield available on Monday, Wednesday and Friday. Casino Bus Service operates local town loops, including a loop service to Gays Hill.
Access Even in Restricted Areas of Gaming
Because cryptos brought to the gambling world anonymity and it is virtually untraceable because people do not tie in their personal information with this digital currency, this has allowed many players from around the world to access and play online gambling games in localities that originally restricted and outlawed. Imagine that there has been a rise in online gambling sites in places that have banned physical casinos because of the protection accorded by cryptocurrency. To illustrate, a country like Taiwan with strict regulations is now seeing a rapid growth of online gambling sites which take cryptocurrencies as a mode of payment. Sites like Online Casino TW engage Taiwanese players to peruse and enjoy gaming through a variety of online casinos that accept Bitcoin. This growing demand will keep improving over the next couple of years as online casinos grow confident to promote and expand in these areas. Tapping this under-served market is now given primary concern because of the large volume of possible revenue that can be taken from these markets.
Changing Consumer Habits Quickly
With every person having their mobile device, both mobile and social gaming have a huge impact on the online gambling world. There has been an increase in people choosing to use their phones for gaming. As a result, there have been an increase in F2P (free-to-play) types of game products worldwide. While F2P games do not make direct profits and income and are seen as more for entertainment, revenue can still be made in other ways. Often players pay a small fee to upgrade their favorite game to access certain features. They also willingly pay a minimal amount when they buy different kinds of virtual offerings and game products for the improvement of their gaming experience. This shows that people are willing to spend on entertainment, and even something deemed as free, is not totally free at all. Both online and casino operators are hard at work to leverage this data to their advantage because these F2P players are potential clients, and they have strength in numbers, which one tapped will boost revenue in massive proportions.
Dealing with More Live Dealers
Players show preference over online casinos that show a realistic real live casino from their homes. They enjoy an engaging “real, live” dealer, which is the primary reason they started this gaming habit while never having to leave the house. Thus, more online casinos are using this information to gain leverage for the benefit of their online sites. On top of that, they beef up the same angle in the brick-and-mortar casino as well. For instance, the use of dynamic, lively dealers in games like Blackjack and Baccarat are popular with online casinos, and many real casinos concentrate their efforts on providing engaging dealers on the casino floor. Ever since the casino industry started, consumers have always been drawn to dealers who possess quick wit and charm. There is just something about this human interaction that makes it tempting for people to play more and stay longer. With advanced technology, dealers look real and just as engaging online.
VR Based Gaming on the Rise
Virtual Reality or VR is another nifty invention that paves the way for a more immersive casino experience. With more VR accessories readily available to the general public, the push for VR-based casinos to evolve is on the horizon and is only a matter of time before everyone has easy access to these virtual reality casinos from the comforts of their own home. Net Entertainment, one of the gambling world’s best and most popular software providers, had recently shown and proven that they are ready to upgrade when they showed a demo of their virtual reality version of their in-demand Jack and the Beanstalk slot machine game. Now, there is a strong outcry for the release of more VR versions of their other popular games.
Land Based Casinos on a Decline
Land-based casinos are feeling the burn from their online versions and are facing a rapid decline with the recent popularity of online gambling sites. There has been a decrease in rates over the past year, especially since people need to make an effort to make their way down to a real casino. These brick-and-mortar casinos are concentrated in one area, such as Las Vegas or the Jersey Shore. People have to spend a lot of money to get themselves to these brick-and-mortar casinos. The amount of money and time wasted before a client can play a game is already exorbitant before he or she even gets to the actual casino. Because of this, consumers are opting to save their transport and other incidental costs, and they channel these figures to online gaming, where they can use their money for bets instead. Online casinos have the edge because they offer more privacy and more convenience to their players. On top of that, online casinos also offer a better and more vibrant gaming experience. Some online casinos have numerous games to offer that players are hard-pressed to choose. These games even go through routine upgrades, so clients will always enjoy their experience. This is something that land-based casinos cannot be at par with because of their limited games.
Upgrade of Slot Machines
As casinos attempt to attract the younger generation, the industry will continue to incorporate slot machines that are equipped have a skill element. After all, younger guests are adept at these types of gaming features found in their many video games and gaming consoles they grew up playing. This proves that people really want to be engaged and entertained at all times. If they are presented with something that is redundant, they will undoubtedly get bored. And like a casino operator, this is something that you do not want to happen to your clients because the moment they begin to feel bored, that’s when they entertain thoughts of leaving to find other things to do. Upgrading those slot machines means continuous gaming that feels new and fresh.
Interactive Gaming Systems Modify Interaction
Many online casinos deliver the best online content to meet and address their numerous guests’ expectations. Thanks to technological improvement, users can access entertaining and engaging online games in a more luxurious lounge setting through touch-enabled kiosks, wall panels, and tables. Interactive gaming systems have the power to merge the popularity of online and social gaming to the real casino floor. The name of the game has always been interactive gaming, which is why even when the current casino goers were young, they already enjoyed interactive gaming experiences with their old Atari, Sega, or Nintendo interactive gaming systems.
Introduction of New Table Games
There are games like blackjack and poker that need a level of mastery to play correctly and to increase the odds of winning. Unfortunately, not everyone has this skill, so they are on the lookout for games that may be challenging but are easier to learn. As a result, casino operators continue to bring new table games to the floor to see which ones become popular. In addition, as guests become more familiar with online and social games, they are drawn to the same types of games on the casino floor, which is why there has been a rise in interactive gaming systems in brick and mortar casinos.
Smartwatches Bring New iGaming Experience.
Placing bets via a smartwatch is now a very real thing. In the past few years, people have been using their cellphones and tablets to connect to online casinos. Now, smartwatches are set to take over as a more convenient and accessible option. Others have predicted that the smartwatch industry will reach its global worth of almost $33 billion by 2021, and gambling is slated to be a part of this enormous trend. Wearable technology has always been popular, and it will continue to be so in the coming years with more gaming software developers crafting new games that can be easily integrated into all devices.
Whether online or real casinos, the operator’s goal would be to always give the clients what they want. Aside from providing a high level of customer service, fine dining, rewards programs, and incentives, the primary motivation is to give the best gaming entertainment. Now, the trend is to mix the best of interactive online gaming systems and technologies with the traditional charm of the older live-based casino.
INTRODUCTION
We are delighted to enclose our 2020 update for the major Australian and selected New Zealand hotel markets for the latest market insights for the full year of 2019 and our outlook for 2020 onwards.
Should you require any advice or valuation services across the major markets across Australia and/or internationally, please do not hesitate to contact our team members below, we would be delighted to assist you where required. In addition to traditional valuations, our team is well positioned to provide clients with bespoke services in the Advisory area, including project development and services, consultancy and asset management services.
All papers published by Cushman & Wakefield Valuation and Advisory Austraila can be viewed on The Valuations Hub. If you would like to subscribe to receive this or any other hotel market research, please feel free to reach out to a member our team.