As the industry gears up for ICE 2024, a convergence of technology and payment systems is emerging as a critical narrative. This past year, Las Vegas’ illustrious casino strip was beset by a wave of technological turmoil. In particular, MGM Resorts International became a high-profile victim of a cyberattack, leading to the suspension of operations across its locations in the US during September. Witnesses shared experiences of malfunctioning slot machines and hotel access disruptions on various social platforms, sparking widespread concern.
MGM took to social media to reveal the company’s engagement with cybersecurity professionals in responding to the security breach, also indicating that law enforcement had been promptly informed. October projections suggested that this digital onslaught would considerably impact the company’s third-quarter profits, estimated to affect the adjusted property EBITDAR by a staggering $100 million.
The aftermath of the cyberattack left MGM’s CEO, Bill Hornbuckle, recounting the company’s harrowing journey, likening it to a descent into and return from “hell.” The notorious hacker collective Scatter Spider claimed responsibility for the breach, issuing further threats if MGM failed to comply with their extortionate demands.
Despite the tremors felt through MGM’s digital infrastructure, the company provided some reassurance to its patrons. It disclosed that while social security and passport numbers of a confined group of players were exposed, more sensitive data such as bank accounts and payment card information remained uncompromised.
Hot on the heels of the MGM calamity, Caesars Entertainment also found itself at the mercy of cyber predators. Attackers infiltrated customer data through the loyalty program’s database, grabbing hold of driver’s licenses and social security numbers. Mirroring MGM’s fortunate fate, Caesars reported no evidence indicating the theft of banking details or PIN information. However, contrasting MGM’s stance, sources implied that Caesars capitulated to the hackers’ demands, allegedly transferring tens of millions in ransom.
The year also marked a pivotal chapter for artificial intelligence within the gaming industry. The sector’s innovators reached deep into the AI toolkit to redefine the technological landscape. Thomas Holland, product director at Genius Sports, emphasized the pivotal role of automation and machine learning in his piece for IGB, focusing on the emerging challenges in predictive liability-driven pricing within betting platforms.
In a compelling two-part analysis by Russel Karp, senior vice president at DataArt, the complex interplay between AI and sports betting unfolded. He explored both the potential pitfalls and advantageous strategies AI integration can present to the industry. Karp demystified AI, segmenting it into three categories: generative AI, which can autonomously develop new content; analytical AI, adept at discerning patterns in data; and the ‘closed option’ AI, characterized by proprietary algorithms.
August spotlighted an illuminating discourse with Jean-Pierre Houareau, CEO at Live Solutions, who shared insights with IGB on adopting AI to enhance the gambling sector. For Live Solutions, this translated to the creation of AI presenters for casino games, designed to enrich the player interaction experience within a live host environment.
Marking a technological breakthrough, GR8 Tech unveiled the GR8 Sportsbook offer, signaling a significant leap in the iGaming industry. This cutting-edge sportsbook platform boasts a comprehensive array of sports, esports, and around-the-clock fantasy sports. With an impressive capability to manage over 25,000 events daily through a dedicated trading team, GR8 Tech’s offering is set to revolutionize the landscape, heralding a new era of continuous betting engagements.
As ICE 2024 approaches, the gaming industry finds itself at a pivotal crossroads, navigating the delicate balance between innovative expansion and the need for robust cybersecurity measures.
