At the NEXT Summit New York 2025, key players from the gambling industry, including executives, legal experts, and visionaries, gathered to discuss the evolving challenges and opportunities within the sector.
The conversations were centered on regulatory scrutiny, responsible gambling (RG) initiatives, and economic volatility, with panelists highlighting the need for strategic flexibility in the face of rapid industry changes. As the gambling landscape continues to transform, experts emphasized the importance of adapting to new risks and opportunities while maintaining industry standards.
Crisis Management and Responsible Gambling Key to Sustaining Compliance and Mitigating Risks
One of the standout sessions at the summit, titled “Crisis Management for Operators: Responding to Regulatory and Legal Threats,” brought together notable figures such as Christopher Soriano from Penn Entertainment, Jeremy Kolman from BetMGM, and attorney Tom Lee. The session highlighted the critical need for operators to establish and maintain robust compliance structures to manage potential risks.
The panel stressed that effective crisis management isn’t merely about reacting to emerging issues but rather fostering a corporate culture that prioritizes transparency and compliance. Strong collaboration between compliance teams and company executives was identified as essential for preventing crises from escalating into long-term problems.
Gambling Leaders Call for Stronger Compliance and Innovation Amid Rising Risks and Economic UncertaintyThe summit also focused on the importance of responsible gambling initiatives, stressing that they should be an integral part of a company’s strategy rather than a reactionary response to negative events. Companies such as BetMGM, Kindbridge, and GameSense are leading the way by proactively promoting RG education, player protection, and intervention measures.
However, the panelists also pointed out that gambling tax allocation remains a contentious issue, with some states misdirecting funds meant for problem gambling prevention. Tennessee, for example, allocates only 5% of sports betting revenue to combat gambling addiction, with most funds directed toward state scholarship programs. Experts emphasized the need for collaboration between regulators and operators to ensure that addiction prevention and treatment receive adequate funding.
Resilience and Innovation in the Gambling Industry Amid Economic Volatility and Change
Economic volatility was another prominent topic at the summit, with panelists discussing its potential impact on the gambling industry. Meredith McPherron, CEO of Drive by DraftKings, acknowledged the challenges posed by market instability but also expressed optimism, pointing out that economic downturns often spur innovation in the sector.
She emphasized the resilience of the gaming and entertainment industries, noting that people continue to turn to entertainment for joy and community connection, even during tough times. McPherron was confident that the gambling sector would weather economic turbulence, as it has historically proven to be a resilient space, adapting to changes while continuing to provide entertainment.
The gambling industry is continuously evolving, driven by advancements in technology and shifts in consumer behavior. AI-based responsible gaming solutions, prediction markets, and skill-based gaming are some of the emerging trends reshaping the industry. Panelists at the summit highlighted these innovations as key to keeping gambling companies competitive despite economic challenges.
By integrating new technologies and offering unique entertainment options, the industry is able to remain adaptable, ensuring that it can thrive in both prosperous and difficult economic conditions. The focus on innovation is crucial to the sector’s long-term success and ability to meet the changing demands of consumers and regulators alike.