47th Annual Gaming Conference

That's a wrap on the 47th Annual Gaming Conference! Be sure to check out Global Gaming Insider for further coverage of the event. 

Hession stated match-fixing concerns in sports betting "happen all the time," especially in "c-level sports" such as tennis or mixed martial arts. He also recalled how the operator lost $30m on a single bet when the Astros won the World Series in 2022, describing the wager as the "worst loss" he's seen since joining Caesars. 

Hession on the biggest risks in digital gaming:

You have competitors who come in and seemingly make products overnight. Sweepstakes, DFS+, now prediction markets. The idea that an 18-leg NBA parlay on rebounds is an economic event is a bit stretched. What we need in our business is just clarity. What's happening now with prediction markets is we're not allowed to participate, they're just getting a head start. I'm not as concerned we're going to get wiped out by prediciton markets, so I look at it as an opportunity as well. We're going to have to come from behind here again, we can't be first movers, but we've shown that once there is clarity, we can compete pretty well.

Hession:

So much has changed since I moved (to Las Vegas). What's amazing about the city is how it continuously reinvents itself. There's a lot of negativity right now about Vegas and how the demand isn't there. I don't know what will be next, but something will come up. The city will reinvent itself so it keeps entertaining and attracting itself.

The Caesars Digital President stated sports betting is "not as sophisticated a business as you'd think" given the industry's relatively short lifespan. Hession desrcibed going through Caesars' restructuring with Apollo and TPG Capital as "educational" and commented on how he needed to learn that "things go wrong every day" prior to stepping into leadership positions.

To wrap up the 47th Annual Gaming Conference, Caesars Digital President Eric Hession will take part in a fireside chat, so be sure to stay tuned for more live updates from Global Gaming Insider!

Livingston:

Tribes are very focused on self-determination. They want to do things themselves and that serves as a theme of how Tribes operate. They also have a much longer view of the world. When they think about their returns and capital investments, they're not thinking like a commercial or publicly traded company. They're thinking 'this will benefit my Tribe and my family,' and that's why they make the investment. You see the benefits of working with Tribes all around you. Education, fire and police stations, child care. That's the very unique thing about working in Tribal country.

Landany spoke on how GLPI "saw an opportunity" with Tribal gaming, given the lack of "real estate ownership" for casino properties. The GLPI executive also addressed the trust's recent partnership with Caesars, with Landany touching on how GLPI continues to search for "where it can fit" within the Tribal gaming space. 

Livingston said Tribes "do a pretty good job" of keeping properties "current," and confirmed Caesars has "more projects coming down the path," including efforts in Sonoma County. The executive believes "things are going well" for Tribal gaming, including a "fair amount" of continued development. 

Lengsavath spoke on how Nevada licenees reached out with concerns over the US Mint's decision to cease creating pennies, which he thought would be a "minor issue" at first. Wanting to ensure patrons "don't feel taken advantage of," Lengsavath confirmed the NGCB looked to "maintain flexibility" between consumers, operators and the Board's own regulations. 

Eberwein went on to state

as the importance of the task increases, so does the importance of human review,

Torgerson claimed the Board has seen "great collaboration" between licensees, something she felt was required given compliance officers can feel "alone on an island" at times. Regarding recent AML fines in Nevada, Torgerson said

nobody on the Board wanted to take that type of action

Rippee followed:

As a regulator, we look at what we can do better. This is an issue and we need to be more involved. We had conversations with licensees and there was a give and take on both sides. We didn't view this change as finding a fall person.

Speaking on the NGCB's new AML regulations, Rippee stated the Board desired greater "visibility" into compliance operations, while Torgerson confirmed receiving "several calls" over how "bad actors" were able to jump from operator to operator in Las Vegas. Torgerson shared concerns about "over reporting" and trying to decipher between "egregious bad actors" and those who made individual mistakes. 

As part of his final statements, Woods shared that Nevada "lagged behind" on labor force participation from 2022-2024, while those who take part in UNLV employment surveys believe it's still difficult to find "the right job." The Director described creating balance between solving unemployment and finding qualified candidates for certain roles in Nevada as a 'sticky situation.'

When offering insight on rising costs in Nevada, Woods said "this is why people are grumpy," as gas prices have raised over 80% in the past year, while travel to Nevada has grown 14% as of April 2026. The UNLV Business & Economic Research Center projects just over 40.5 million visitors to southern Nevada for 2026, up from the 38.5 million volume recorded for the prior year. Woods also highlighted the 9.1% growth in US commercial gaming, but pushed back against certain narratives formed around the country.

Gaming has been strong, but it hasn't had the explosive growth some headlines show. You have a lot of disruption from prediction markets, but customer activity has also changed.

Woods:

Despite all the negative headlines, the job sector in Las Vegas has been okay. It's not the best ever, but it's held up. What I do like to tell national reporters is that Nevada, a lot of the time, reflects the state of the nation. We are certainly in the middle of an inflationary cycle, but real wages have been outpacing inflation. We're still making up for everything we lost during the pandemic, but if you even it all out, we're basically nil.

According to Woods, earnings for 392 S&P500 companies have increased 21.7% year-over-year, while 77.8% are currently beating revenue projections. 73% of "large and mid cap companies" in Nevada, including numerous gaming operators, either "met or beat" yearly revenue estimates. Woods stated companies "had to make a decision" regarding hiring new personnel at the start of 2026, due to the "uncertainty" in current geopolitical climates. 

Woods pointed out how consumer sentiment is the "worst it's been since the Great Recession," and remains "pessimistic" despite "great" equity valuations in the US. Believing there are two sides of the economy "pulling at each other," Woods shared how positive economic impacts from the One Big Beautiful Bill Act have "slowed significantly" due to the ongoing war in Iran. 

Akiyama shared that requiring to be licensed in Nevada "does not change my mission," while Martino stated he "doesn't see" regulators issuing the manner to a multi-jurisdictional authority. Akiyama backed the statement by commenting on how state regulators "don't want to count on" measures implemented in other jurisdictions, even if they require operators to ensure player safety across all properties. The MGM Resorts executive closed the panel by saying he "agrees with everything" Akiyama claimed, and confirmed the operator will attempt to do a better job of identifying "high level risks" going forward. 

Martino:

I don't think it's going to change the culture of compliance. I feel very strongly about the culture of compliance at MGM. I've had a handful of people ask 'how do I sleep at night?' I sleep just fine. I never felt that we had a culture of running yellow lights. The risk has been there and has been the same, but we've had to embrace technology to make sure we're more efficient and thorough. Nevada is the tip of the spear going forward, but we're able to ensure the same standards across regional operations as well.

Morales said she has already begun calling former colleagues over "what they plan to do" with the new measures, but confirmed Fontainebleau "already has the people in place" to comply with heightened regulations. Barley spoke on how casino employees are now "incentivized" to call out potential AML violations, as they are eligible to receive up to 30% of the fine amount if assistance is provided. She also believes there will be a "fundamental shift" in how operators form compliance teams, given there may have been a "mismatch" in auditing and risk assessment. Morales agreed by saying she's "not afraid to call out" poor risk assessments, and that teams need to "evolve" to prevent future issues. 

Akiyama shared that Las Vegas Strip properties collaborated to find a "level playing field" with AML issues following the amount fines handed down in 2025. The Wynn executive said discussions centered around the "risk" of business payments, which should "not be used" to settle personal debt. Martino said he "definitely wasn't in the room" when the new Nevada measures were implemented, as he will now be required to obtain licensure as a Chief Compliance Officer. Martino continued:

There is going to be an impact on gaming revenue. I don't know how significantly, but there will be an impact as a result (of the new measures).

Speaking on Wynn's AML violations, Akiyama said the operator now has "monthly meetings" to discuss recent news and regulatory changes. Barley followed by covering Nevada's new AML requirements, which are "not intended to recreate" regulations, but provide "greater focus" on compliance reviews and reporting systems. According to Barley, the new measures form a "personal impact" on employees found to be violating AML policies. 

Barley began the panel by stating the "relationship-driven nature" of casino gameplay has created AML conflicts in recent years, directly referencing violations related to Ippei Mizuhara and Scott Sibella. Barley also confirmed AML is "definitely" a national issue rather than centralized in Nevada, despite multiple operators in Las Vegas having received fines over the past year. 

Following a short break here at the 47th Annual Gaming Conference, an AML panel with Wynn Resorts VP - BSA/AML Officer Eric Akiyama, RSM US National Gaming & Hospitality Group Director Kim Barley, MGM Resorts SVP & Chief Compliance Officer Stephen Martino and Fontainebleau Las Vegas Director of Internal Audit Brittany Morales is next on the agenda!

Williams described cyber security as a "never ending battle" and said "you can never get a good nights sleep" due to "someone always coming after you." Smythe stated AI systems should be used to solve "tedious tasks" and help ease the responsibilities of frontline workers, rather than "take over" attempting to deliver a positive guest experience. 

Kealy confirmed the human element of gaming is "the biggest opportunity and the biggest threat" to cyber security. Commenting on how Light & Wonder looks to "contain the blast radius" of potential security violations, Kealy also advised those in the room to "empower users, but have a safety net underneath" to protect operations. Williams said AI can "work in one context but not another," even while the Sahara Las Vegas executive still desires to "fan the flame" of automated operations. 

Williams begins the cyber security panel by referencing the "Nigerian Prince" spam emails people used to receive, while also believing "shadow IT" continues to serve as an "emerging area" in gaming. Kealy followed by commenting on how his problem with AI is the ability to help "stupid people do stupid things." The Light & Wonder executive confirmed the supplier's games are "aggressively tested" before launch, a process which has gone from taking six weeks to just over 90 minutes due to AI programming.

My feeling is fight fire with fire. Yes, we've been using AI for good, but just remember that there are stupid people doing stupid things for stupid reasons.

Hendrix closed the discussion by stating it's "okay" to be a "B+ mechanic" when trying to find the "balance" between work and family. Confirming she was "never the best in her department," Hendrix said it's "important to give yourself some grace" even if it means steering away from a "driven" career path. 

The Penn Entertainment CFO shared how she "loves" when people "throw their hat in the ring" for executive roles "even if they are not ready." Referencing how she was "pushed to the background" during her start at Lehman Brothers, Hendrix realized "no one knew" who she was and had to request to lead morning calls and presentations.

After a while, people got to know me, trust my decisions and eventually I moved up. If you want to get noticed, I would say to try and swim outside of your comfort zone.

Hendrix:

To me the most important job is to be a steward of our balance sheet. What keeps me up at night is concern or fear that our balance sheet is not going to be in a healthy position. In 2024, we were in covenant relief, which was not a comfortable place, even if it was short-term pain for a long-term goal. The biggest focus I have is making sure our balance sheet is strong, and then deciding what to do from there because it can be a luxurious place when your balance sheet is strong. You're always looking at those decisions not in a vacuum, but what will bring the greatest return as a publicly traded company.

On the transition from Wall Street to Penn, Hendrix believes one of the "misperceptions" Wall Street has about corporate operations is how "slow" they are. Hendrix said "a lot has been written" about how the CFO position has changed, from "traditionally" being seen as head of finance to "more of a strategic role." Describing her own role as "wearing three hats," Hendrix confirmed the first hat relates to investor relations, the second being her CFO responsibilites and the third requiring a "new" strategic mindset.

Hendrix:

Your background doesn't matter. I was a medieval renaissance literature major, but my whole life I liked to push myself toward things that were uncomfortable. I remember my first boss telling me I needed to ask people questions, that I just sat there. So I went up to senior people and asked if I could buy them a sandwich just to learn about what they do. I can't tell you how many sandwiches I bought.

Hendrix stated she was raised to become a lawyer by her father, who apparently asked if she would "cry in front of a judge" when upset as a child. Drawn to a medieval renaissance literature class in college, the executive spent "two minutes" in a law firm before realizing the industry was not part of her future. Inspired by one of her roommates, Hendrix applied for business school and "fell in love" with finance and accounting. 

Global Gaming Insider has arrived for day two of the 47th Annual Gaming Conference! First up is a discussion with Penn Entertainment EVP & CFO Felicia Hendrix, followed by a cyber security panel featuring Light & Wonder SVP & Global CISO Kevin Kealy, Workday Area VP for Retail & Hospitality Dale Smythe and Sahara Las Vegas CIO Tim Williams.

That wraps up the first day of the 47th Annual Gaming Conference! Check back here for live updates from day two of the event, where discussions centered around  AML, regulations and Tribal gaming will serve as headline panels. 

Recounting his worst day as a bookmaker, Asher stated the one which "sticks out" was a "black swan" NFL event where William Hill lost $7m due to most of the week's favorites winning their respective matchups. Asher also thought back to the Philadelphia Eagles-New England Patriots Super Bowl, where even as an Eagles fan, he was unable to celebrate the victory due to William Hill losing a large portion of handle on the Patriots. 

Asher:

One of the things I find the most objectionable is, early on, these were marketed as an investment product. I just think that's totally nuts. It sends the wrong message. I'm all for gambling, I've had a pretty nice life because of gambling, but this needs to be marketed for what it is. Marketing this as a way to make a career is misleading and I believe intentionally so. You can't escape the noise of it all.

On prediction markets, Asher stated the vertical is just an "euphemism" for sports betting and called CFTC Chairman Michael Selig a "cheerleader" for operators. Asher described prediction markets as a "problem" in Nevada, and believes the "gamblification of everything in America" will lead to bigger problems. 

Asher spoke on how sports betting has become more "mainstream" since PASPA was repealed, with the executive having previously served as William Hill's US CEO for nearly nine years. 

Wong stated that AI in finance is still more "automation than generative," while Etherington believes the "hallucinations" found in AI reporting showcase the need to continue improving the quality of artifical intelligence. The Deloitte Partner went on to say AI is "something that continues to evolve," but the skillset of individuals will still be "more important than ever" going forward.

Etherington stated the "last thing" gaming entities want to do is "wait until the last minute" to familiarize themselves with new standards. Wong backed the claim by saying the "early adopters" can usually be found in the manufacturer space, rather than from suppliers or operators in gaming. 

Wong:

You'll see markets that have semi-annual reporting, whether that's Europe or Australia, so it's been done, there is a roadmap. They have to be thoughtful of how investors ingest information. There is a lot of different avenues to do this, but if you have concerns you need to voice them.

The panel commented on how questions have begun to arise over whether semi-annual reporting would help ease the financial burden of gaming entities. Wong stated she has yet to meet a tax professional who "asked for less information," but advised operators and suppliers to begin discussing the possibility with stockholders. 

The final panel scheduled for the first day of the 47th Annual Gaming Conference will feature a book update from KPMG Partner Sally Wong and Deloitte Las Vegas Office Managing Partner Nikki Etherington. To conclude the event, Boomer's Sportsbook President & CEO Joe Asher will take part in a fireside chat. 

O'Brien commented that new regulations are now "cumbersome" for tax departments, especially in international markets.

By the time you feel good about your report, six jurisdictions have changed their policy.

Fjelsted said difficulties from the new regulations revolve around the lack of cohesiveness from states.

It all sounds great, but the devil is in the details with that stuff. You can have multiple upon multiple upon multiple stipulations that you need to meet.

Bohman said she was "so excited" when the One Big Beautiful Bill Act passed, even though there were some "not so great" inclusions for gaming. Highlighting the ability for suppliers to deduct domestic R&D costs, Bohman seems to maintain a more positive view on the legislation, which has received pushback for limiting gambling loss tax deductions to 90% for bettors. 

In closing, the panelists were asked to use one word to describe the future of AI in gaming. Aleman described the Caesars team as "energized," Downes expanded upon the request by offering "translating insight to action," Vasquez wants to see "more clarity," while Goslin expects "balance" to eventually be found. 

Downes called AI integrations in gaming a "mixed bag," even while operators view automation as a "huge opportunity" to eliminate pain points. Vasquez recapped that "starting the conversation early" can help businesses find "comfort" with AI. The Deloitte executive said:

Although we don't know the exact answers of everything we will need, its probably going to be quite similar in nature.

Aleman said team member responsibilities will become "less transactional" as a result of AI integrations for Caesars. Goslin followed-up by saying

the future for AI is less about entirely new job titles, but evolving skill sets as we move forward

Vasquez spoke on the "risks" associated with AI, believing the "best way to think about it" is to view the 'A' as meaning "to assist." The Deloitte Partner also shared that the "human in the loop" aspect will never be lost in gaming, but operators need to be prepared to explain "how these processes work and how they are protected" to regulators. 

On how Caesars is addressing AI, Aleman described the operator as "automation heavy," and consistently looks to find how "core processes" can be improved with artificial intelligence. Goslin shared that Penn wants to get AI tools "in the hands of our team members" so they understand it is not meant to "take their jobs." Aleman and Goslin both confirmed the best use cases for AI in gaming revolve around "high-volume manual tasks" and eliminating "repetitiveness" across operations.

Before attendees head off to lunch here at the 47th Annual Gaming Conference, an AI & Automation panel will provide insight from Caesars SVP & Controller Eddie Aleman, Oracle Executive Director of Finance Digital Strategy Jessica Downes, Penn Entertainment SVP & Chief Accounting Officer Bryan Goslin and Deloitte Audit & Assurance Senior Manager George Vasquez. 

Lopez argued suppliers can't be "too innovative," and said

if 80% of your portfolio is going to be innovative, I'll see you at the back of the unemployment line.

Jingoli said:

That's the good thing about this industry, though. If you have a game that is good and will perform, it'll find it's way onto the casino floor no matter the circumstances.

Dreitzer said Nevada had "fallen behind" from a product perspective and needs to be "quicker" in its regulation. The NGCB Chairman also stated many of the Board's regulations were "out of date" when he first took over. 

When I first started and began taking a look at this issue, I was told by manufacturers that they weren't going to bring games to Nevada because it wasn't worth the hassle. As the gold standard of this industry, we need to create an environment where our suppliers can be successful.

On innovation, Jingoli brought attention to how gaming is a "copycat" league, even sharing how Lopez told him AGS would be "stealing" a Konami game during a recent tradeshow. Lopez responded by saying AGS can "change the colors," and pointed out the expansion witnessed from the supplier's digital businesses. Jingoli also said the "key" to innovation is finding a way to "stay ahead of the competition" by routinely developing original content.

When asked what the biggest friction point is for tariffs, Comstock confirmed Ainsworth has been forced to take a "short-sighted approach" to finding solutions, while Lopez stated "we don't know what tomorrow brings" anymore due to the uncertainty around US politics.

As a response to US tariffs introduced over the past year, Lopez and Jingoli both spoke on how their suppliers "set up shop" outside the country to avoid such financial struggles, also joking that each "had to check" with Dreitzer prior to doing so. Lopez confirmed "it's all bananas" right now, and the situation "sucks" for all suppliers, whether private or publicly traded. 

Kaiser closed the panel by stating the "backend" of crypto currency is where things "break down" for operators, especially when it comes time to report payments for tax purposes. Carson responded by challenging that if Nevada, and Las Vegas casinos specifically, are "not ready" to capture interest in crypto currency, "that revenue will go somewhere else" in the US. Despite the concerns shared, each of the panelists displayed confidence in the payment method's ability to continue expanding in gaming. 

Rubio said that despite seeing some "really insane stuff out there," operators can still discover a "hint" of what the future may hold for crypto currency. 

I think the pain of not meeting that moment is only going to increase. When you think about crypto, when you think about AI, as the consumer facing piece of this continues to accelerate, you don't want customers to feel as if they're stepping into a time capsule when they enter your establishment.

Carson believes security is "the most reliable portion" of crypto currency, and stated the payments system "cannot be compromised."

When asked if the risk over time has declined, Carson spoke on the "complex" difficulties faced when reporting crypto payments for tax purposes, but recommended every gaming entity become familiar with digital assets. 

Rubio believes "the path is still narrow" for operators to integrate crypto wallets, but the 'more you can beat the solution into a shape you're familiar with, the more success you'll eventually have.'

Carson confirmed "crypto is not cash," which can create "friction around gaming" given operators count finances by "gains or losses."

Kaiser said the "biggest misconception" in crypto currency is that "it's just like dollars."

That couldn't be further from the truth. Anytime you're using digital assets, you're creating a taxable transaction. There's a lot of questions to be answered for accepting digital assets as payment for an operator, but that will be something which happens at some point or another.

Next up on the 47th Annual Gaming Conference's agenda is a crypto currency discussion with CleanSpark Chief Accounting Officer Brian Carson, NGCB Technology Division Deputy Chief John Lastusky, RubinBrown Tax Partner Bill Kaiser and Zero Labs Prinicpal Ryan Rubio.

Speaking on his President & CEO role, Wilson shared the difficulties faced in residing so far from his family in Australia, but views his professional journey in a similar fashion to the "GPS program in your car."

A lot of people get behind the wheel and end up in Albuquerque. No offense to Albuquerque, but you have to make the right turns for your life and you'll eventually steer toward the right direction.

Wilson also downplayed the "panic and fear" surrounding AI and the possibility of reduced workforce in gaming, believing "you need to adapt or you'll be left behind." Confirming Light & Wonder is not looking to conduct "massive layoffs," the supplier is still currently undergoing a "major AI transformation" according to Wilson.

"Its coming, you have to be ready for it."

On Light & Wonder's confidence in iGaming expansion post-Covid, Wilson confirms the supplier was "completely wrong about that." Sharing that politicians "like to do nothing," the Light & Wonder President and CEO said recent issues with tariffs had a "massive impact" on the organization.

Wilson believes the evolution of US gaming has helped "middle class country clubs," or locals casinos, where the need to travel to tourist destinations such as Las Vegas is no longer a requirement for gamblers. Describing gaming as "much less stable" than most industries, Wilson says operators and suppliers need to separate verticals in order to generate success for each, rather than trying to become a "Shohei Ohtani" and combine different businesses. 

Advising that you "want to be where the growth is" in gaming, Wilson recounts his efforts with Aristocrat prior to starting his current position. Wilson also shared how he always kept an eye on his current employer, and how he could fix "everything they were doing wrong."

Wilson begins the fireside chat by calling attention to National Accounting Day, which also happens to fall on May 19, even though the holiday comes second to Cinco De Mayo for the Light & Wonder executive. 

Just ran into KPMG US Gaming Leader & Las Vegas Managing Partner Rick Arpin, who also serves as a regular contributor of Global Gaming Insider. Arpin will be moderating the fireside chat with Wilson, so be sure to check back here for live updates!

Some of the noteworthy events scheduled on the 47th Annual Gaming Conference's agenda include:

- A supplier/manufacturer panel featuring speakers such as NGCB Chairman Mike Dreitzer and Ainsworth CEO Ryan Comstock

- The latest update on AI and Tribal gaming operations

- A discussion with Penn Entertainment EVP & CFO Felicia Hendrix

- Fireside chat with Caesars Digital President Eric Hession

Check back here for the latest updates and top coverage of the 47th Annual Gaming Conference!

Global Gaming Insider will be on-hand at Circa Resort & Casino from May 19-20, ready to delve into topics such as regulation, AML, Tribal gaming, suppliers & manufacturing and AI operations!