Australian operators after millennials

International bookmakers in Australia’s wagering sector will find it harder to make money, while the millennials market continue to elude players in the industry. 

Those were some of the key messages from speakers at the Gaming, Racing & Wagering Australia 2016 conference held in Sydney this week.

“Consolidation in the wagering sector will continue, with discussions happening on a weekly basis,” said Jamie Nettleton, partner at Addisons, commenting on Australia’s wagering industry.

During his session, Nettleton discussed some of the impacts of the Barry O’Farrell Review, which he said was “poor timing” – being so close to an election.

Nettleton also alluded to possible regulation for social casino operators, but did not put a timeline to such measures. “Its got a long way to go,” said Nettleton.

There was also a strong focus on strategies to attract millennials – with speakers covering topics such as virtual reality and e-sports betting.

Audience from the land-based gaming sector seemed particularly interested in the esports phenomenon, hoping to emulate the success of Crown Melbourne’s recent Call of Duty Championships – which offered a A$70,000 ($53,300) prize pool in April.

However, such innovation is being held back by “old” thinking, according to one of the club operators.

“Some of us [club operators] are stuck in a timewarp,” he said – suggesting the need for more forward thinking board members, and closer collaboration with management to push new concepts through.