American Gaming Association releases industry outlook with Fitch Ratings
The report revealed that gaming CEOs approach the year with cautious optimism.
The American Gaming Association (AGA), in partnership with Fitch Ratings, released an industry outlook report that reviewed what gaming CEOs think about the current and future business climate.
The outlook allowed executives to vote on current situations to which several executives indicated the current business situation is good (68%) or satisfactory (28%).
Most of the executives (92%) expect the conditions to continue or improve over the next three to six months.
Of the executives, 38% indicated they expect future conditions to be better, compared to 8% that feel conditions will decline.
AGA President and CEO Bill Miller commented: “Our industry remains cautiously optimistic – and has weathered this volatile economy – because of resilient consumer demand. Looking ahead, future consumer confidence and spending remain an outstanding question for our continued growth.”
Executives indicated that macroeconomic factors will temper the future outlook for the gaming industry. Concerns have eased from earlier this year, but two-thirds of gaming CEOs named supply chain issues as a factor limiting operations.
The uncertainty of the economic environment and shortage of labor was also indicated as impediments to business growth.
The Industry Outlook provided by the AGA and Fitch Ratings includes two separate indices, the Current Conditions Index and the Future Conditions Index.
Compared to the second quarter of 2022, the Current Conditions Index of 99.5 shows real gaming-related economic activity is relatively stable.
The Future Conditions Index is currently at 95.3, which indicates that real gaming-related economic activity is expected to decrease moderately over the next six months.
The AGA Gaming Industry Outlook is presented with Fitch Ratings and prepared biannually by Oxford Economics.
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