With a strategic, long-term vision, The Romanian Slot Machines Organizers Association ROMSLOT specialists developed an analysis overviewing the most important factors that the gaming industry must take into consideration in 2016.
“We identified seven factors which form the forces that will influence the gaming industry in 2016 map. There are seven key words, essential for the development of a fair business, with long term perspectives. Every businessman should use them as guidance in 2016.”, declared Viorela Radoi, Executive Director ROMSLOT.
The forces that will influence the gaming industry in 2016 – a ROMSLOT concept
Partnership – We strongly believe that for the development of a clear and applicable legislation and for the correlation of the specific legislation with other legal stipulations, we need, on one hand, direct communication between the business environment and authorities and on the other hand cooperation at the industry level. We can use as an example the cases when a good communication with the politic stakeholders, through which they understood the specificity of the gaming industry, lead to elimination of inapplicable legal stipulations, such as the entrance tickets or the gamblers’ taxation. Also, at the moment, the betting industry is facing a situation of lack of correlation between the interpretations of operators’ revenues, requiring that state authorities take into account the specific legislation.
Reputation – Given the fact that the gaming industry is facing a series of media threats, targeting isolated cased, which are later generalized, we fear that there is a risk that this image stain will affect the whole industry. Two examples showcasing the above are the news about the black market and law breaking from Sălaj and Botoşani districts. That’s why we need unity and involvement from the entire market in order to change the way the gambling is seen. We live in a reputation economy and the reputation of an industry depends on how much each business is involved the community life as it is each and everyone’s duty to help build a positive imagine. Within ROMSLOT, there is a constant concern to improve the reputation of the gaming market and to associate it with the entertainment industry. The association has made considerable efforts in this direction, from market researches and education campaigns targeting media and political stakeholders to image campaigns involving the most well-known Romanian bloggers.
Online – Online gambling itself is not new to Romania, but the regulation of this sector is. Thus, it is important to see how to approach and healthy develop this type of gambling. Moreover, the operators must weight the opportunities and adapt their business according to the market trends.
Flexibility – The new legal stipulations generated a market resettlement and the emergence of implementing rules brought stability. The businessmen must rethink their strategies according to the changes brought by the new legal framework. The flexibility is translated through the ability to adapt to change and to the dynamics of an ever changing market, such as the gaming industry.
Information – It is well known that information is power. Therefore, within ROMSLOT we always try to be well informed, supervise in real time the law projects and anticipate the evolution of the political, social and economic context. At a business level, the access to information is vital for the development and continuity of the business.
Transparency – Transparency is one the key values of our association, according to which we guided along the way and which we vowed to promote. But transparency is needed across the entire industry in order to reflect a fair image, on which we can build a positive reputation of the gaming market.
All of the above, lead to an essential economic indicator, desired by every business: PROFIT! 2016 can be a profitable year. But, it is important not to forget one aspect, if you also desire continuity in 2017 and beyond. The gaming operators must approach their business with big RESPONSIBILITY.
Responsibility is the 7th force that will influence the Romanian gaming industry and it must be seen not only as a trend, but as key principle according to which each gaming market guides its business.
A responsible approach is needed at each business level and also at the community level and represents the conjugation of actions taken by the industry, the authorities and the specialists alike. Let’s take for example the “Responsible Gambling” program, which we develop along with our partners, Romanian Bookmakers, as it is the most representative program for fighting gambling problems in Romania and a true proof of assumed responsibility.
If you want a business that can withstand time, it must promote a pleasing experience in the gaming halls and it must be based on satisfied clients, who gamble just for fun and don’t exceed the amounts allocated to this activity. A responsible behavior of the industry will reflect upon the entire social climate, which will lead to the decrease of media pressure and will prevent the emergence of regulation threats. The gaming industry in Romania must enter the RESPONSIBLE PROFIT era.
