With Hard Rock International launching its interactive activities, the company is confident in the future of online gambling.
The digital growth potential is certainly big for HRI
Hard Rock International is ready to play new industries. More specifically, online casino games and interactive betting, amid countless other activities that are on the company's plate today. After Las Vegas Sands Corp. bends and has announced that it will take care of online gambling, Hard Rock works in the same spirit as Hard Rock Digital.
Encouraged by the positive results of online development across the US, Hard Rock is now bringing more knowledgeable iGaming managers on board. They are here to help the company in its digital expansion.
Meanwhile, Hard Rock is abundant both at home and abroad. Company CEO Jim Allen seemed optimistic in a recent interview with CDC Gaming. The CEO said the company has a presence in 76 countries and has 203 billion Rand media impressions.
So why not take digital stuff? Hard Rock has been in the public eye for a while. This goes back to collaboration with the NFL home stadium Miami Dolphins and many other initiatives. However, marketing partnerships aren't everything, and iGaming, as well as interactive betting, can be more difficult.
Commenting on the company's customer acquisition strategy, Allen was convinced that Hard Rock was in a good place to start considering online expansion. Although Hard Rock is owned by Seminole Gaming, a tribal company, its interest in online gaming is just beginning.
Acquiring customers in the digital industry would be easy
The company does not have to invest so much resources in acquiring customers. It already has a sizeable customer base that Hard Rock can bring to the benefits of interactive gambling. One example is the M Life Rewards programs that BetMGM uses to attract MGM Resorts International's sports customers and fans.
With Hard Rock Digital launched in December, the question is how far the company will move towards digitization. Speaking at the time of creating the venture, Allen noted key metrics that the company only observed in the US market.
The estimated future market size is $ 7 billion for sports betting and $ 14 billion for online gaming. In many ways, HRI is hedging against risk and looking to the future. However, the company is moving at an easy pace.
When Hard Rock Digital was founded, the company hired a number of managers known for their technological expertise and knowledge. Hard Rock has yet to release any important information in the interactive segment. The pandemic has highlighted the need for alternative sources of income.