Home NewsTechnology The Road to ICE 2020: Payments and Tech

The Road to ICE 2020: Payments and Tech

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This new series will prepare you for 2024’s biggest show with the most recent developments from 2023.

As we move closer to ICE 2024, payments and technology will be the most important stories. Cyberattacks on Las Vegas Strip’s two biggest casinos have rocked the industry this year.


Cyberattacks

MGM has confirmed that it suffered a hacker attack in September after being forced to shutdown systems at its US-based properties. Social media reports suggested that there were issues with slot machines in retail stores and hotel room access.

MGM announced in a tweet on X (formerly Twitter) that cybersecurity experts were helping it investigate the incident. The company confirmed to have notified law enforcement.

MGM’s attack is estimated to cost $100m

MGM calculated that in October the attack would impact adjusted EBITDAR of Q3 by $100m.

Bill Hornbuckle, the CEO of MGM’s Q3 earnings report said that MGM was “to hell and back” due to the attacks.

Scatter Spider, a hacker group, claimed responsibility for the attack. They threatened to launch more attacks against MGM if they didn’t pay up.

MGM confirmed later that a small number of player’s passport and social security numbers were compromised. It said that it did not believe any bank account information or card payment details were affected.

Caesars Entertainment was also the victim of a cyberattack in the days that followed the MGM attack. Through Caesars’ database of loyalty program, the attackers were able to access customer data including driver’s licenses and Social Security numbers.

Operators confirmed there were no signs of compromise to bank information, PIN numbers or other personal data. MGM and Caesars are both lucky.

Unnamed sources quoted in the media said that Caesars paid ransoms in excess of tens millions of dollars to attackers.


How did we arrive at artificial intelligence in ICE 2024?

Artificial intelligence (AI), in many ways, has been transformed by the year. Operators and companies alike, across the industry tested AI’s boundaries and shared their findings with us.

AI set to be KEY TOPIC AT ICE 2024

Thomas Holland, Genius Sports’ product director wrote an article for iGB about how machine learning and automation are influencing liability-driven predictive pricing. He said that the operators have less control of dynamic pricing adjustments in relation to bet activity. Automation will provide the answers.

Russel Karp is the senior vice president of DataArt. He wrote a series in two parts about AI and sports betting. The first part focused on challenges AI might pose for sports betting. The second part of the article focused on how AI can be used to improve sports betting.

Karp outlined three types of AI: generative AI (autonomous content creation), analytical AI, and closed options. The generative AI creates new content automatically, while the analytical AI finds patterns within existing data. The algorithm will be private for a closed solution.

Jean-Pierre Houareau CEO of Live Solutions, spoke with iGB in August about the ways the gambling industry could incorporate AI’s best features. Live Solutions was able to achieve this by creating AI presenters who would be presenting their casino games. Houareau said that AI hosts exist along with the live host, and offer operators an alternative way to communicate with players.


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