PartyGaming Chief Executive Officer, Jim Ryan, has spoken out about the future of online casino gambling. Following the gaming executive summit in Madrid, Ryan stated that the media giants and monopolies are being created in online gambling circuit are soon going to take over as a bully smaller companies into joining or folding. Recently we have seen many large gambling firms join in partnerships to increase their strength as online gambling providers.
With very little government regulation at this time, many casinos are expanding to the point where they are dominating entire cities and sometimes even entire countries. A causing a stir in the online casino industry are Google and Yahoo. These two online companies have the power to increase certain potential as well as providing entertainment to online games and portals. As they continue to grow and expand on technology, these companies are dominating the Internet and taking with them all the small businesses and industries that are new to the Internet.
Currently we have seen online gambling companies expand to the point where there revenues generated allows them to create large payouts jackpots in each promotions in order to draw in new gamblers. Smaller companies cannot compete with this as they do not have the capital to constantly market and promote themselves. Many companies are joining hands with large online firms such as intra-lot in order to create the highest marketing potential. However the same story goes, those with the money are able to pay for bigger companies assistance.
Partygaming had to work harder to gain acceptance into the European market of online gambling as it is the top market for casinos online. According to Ryan, “While not ideal, it has been a humbling experience and has forced us to improve our products and offers and to really up our game.”
Ryan then stated, “The world is changing as regulation takes different shape in different markets. But upcoming regulation means new entrants and competition in the market, and I worry less about direct competitors such as those sitting on this panel than I do about government-licensed operators and major media firms targeting their power markets in the future.”
