Experts do not yet view virtual reality as a competitor to traditional casinos

At the Sigma Manila event, a panel of experts discussed the potential impact of virtual reality (VR) on the gambling industry. The consensus among participants was that the technology is not yet sufficiently developed to make a significant difference.
Daniel Long, Chief Commercial Officer of QTech Games, pointed out that "in the past, operators invested heavily in virtual reality," but those efforts did not yield results. However, he emphasized that this does not mean that online offerings are currently less appealing than their land-based counterparts. Long believes that players have become accustomed to online gambling, largely due to the closure of traditional venues during the pandemic. "They don't feel the need to return to brick-and-mortar casinos," he stated, adding that in the future, only the best establishments will survive.
Darryl Manning, CEO of Wicked Games, echoed this sentiment, suggesting that "the best casinos will grow larger, but their numbers will decrease. They will have to reinvent themselves."
In contrast, Earl G. Hall, CEO of AXES.ai and chair of the International Association of Gaming Standards, defended land-based casinos. He noted that there are thousands of licensed establishments and millions of loyal players. "I don't see a decline; I see record numbers," Hall asserted, citing the recovery of the gambling industries in Macau, Singapore, and the Philippines post-COVID, albeit at varying rates.
Hall also acknowledged the potential of virtual reality and the metaverse, which offer much more than just gaming experiences. Long agreed, stating that VR will not be a standalone online casino but rather part of a broader experience, where users will navigate the metaverse to access gambling entertainment.
Experts highlighted that major tech companies—Apple, Meta, and Alphabet (Google)—are currently the primary developers of these platforms. As a result, any gaming company aiming to dominate the metaverse will face stiff competition.
Long believes that tabletop games may be the first to succeed in virtual reality. He remarked that "if land-based operators want to invest in VR, there will be a place for them in the future."
In a noteworthy development, a jackpot of £11.6 million was won in the UK National Lottery.