With Hard Rock International launching a dedicated interactive business, the company is confident in the future of online gambling.
Digital Growth Potential Certainly Big for HRI
Hard Rock International is ready to dabble in new verticals. And, specifically online casino gaming and interactive wagering, amid myriad other activities that are currently on the company’s plate. After Las Vegas Sands Corp. caved in and announced it would explore online gambling, Hard Rock is pushing through in the same vein with Hard Rock Digital.
Encouraged by the positive results of online growth throughout the United States, Hard Rock is now bringing more competent iGaming managers on board. They are here to help the company with its digital expansion.
Meanwhile, Hard Rock doesn’t lack footprint both at home and abroad. Company CEO Jim Allen seemed optimistic in a recent interview with CDC Gaming. The chief executive argued that the company is present in 76 countries and has 203 billion media brand impressions.
So, why not take things digital? Hard Rock has been in the public eye for a while now. That goes back to a partnership with the NFL Miami Dolphins’ home stadium and numerous other initiatives. Yet, marketing partnerships are not all there is and iGaming as well as interactive wagering may be pushed for harder.
Commenting on the company’s customer acquisition strategy, Allen felt confident that Hard Rock is in a good place to start considering online expansion. Even though Hard Rock is owned by Seminole Gaming, a tribal company, its interest in online gaming is only getting started.
Acquiring Customers in the Digital Vertical Would Be Easy
The company doesn’t need to put in as many resources in chasing customers. It already has a sizable customer base that Hard Rock may introduce to the benefits of interactive gambling. One example would be the M Life Rewards programs BetMGM uses to lure MGM Resorts International customers and sports fans.
With Hard Rock Digital launched in December, the question is how far the company will pursue digitalization. Speaking at the time when the venture was formed, Allen noted the key metrics the company has observed in the US market alone.
The estimated future size of the market is $7 billion for sports betting and $14 billion for online gaming. In many ways, HRI is hedging against risk and aiming at the future. Yet, the company is moving at an easy pace.
When Hard Rock Digital was created, the company brought on a host of executives known for their technological savvy and expertise. Hard Rock is yet to make any big announcement in the interactive segment just yet. The pandemic has highlighted the need for alternative sources of revenue.