While plenty of individuals have grown up beneath the neon lights of Las Vegas, few have refined this experience into a level of insight that has begun to transform the ways in which we view the entire casino sector. Meet Michael Andrew Rosenfeld: an investigative journalist with something to say about casinos, and their relationship with the entertainment industry.
Can you tell us how Michael Andrew Rosenfeld became interested in the gaming sector?
Michael Andrew Rosenfeld. “Las Vegas was my proverbial backyard as a child, and I assumed that this was simply part of the fabric of American culture. This is also one of the reasons why I studied gaming economics at UNLV.”
Where does investigative journalism fit into this picture?
Michael Andrew Rosenfeld. “I also realised that economics was fueled by human actions. The best way to appreciate these underlying mechanics was to peel back the layers, and research the roles of major players. Investigative journalism seemed like the perfect fit.”
Why do I feel that casinos and the entertainment sector are so connected?
Michael Andrew Rosenfeld. “Casinos are much more than mere gaming establishments,” he begins. “They’re cultural melting pots, they display the latest innovations, and they often reflect the state of the economy.”
What specific areas are affected by the casino sector?”
Michael Andrew Rosenfeld. “There are many things to consider. I feel that music, sports (through sponsorship deals), television, and movies, are all related more than many might believe.”
Can you provide us with an example?
Michael Andrew Rosenfeld. “Sure,” he replies with a grin. “Think about how casinos are portrayed throughout the James Bond franchise. At one time or another, all of us wanted to strut through the casino wearing a three-piece suit, and holding a martini. These films have impacted entire generations.”
You mentioned “generations” in the prior response. Why do you think casinos enjoy such a timeless presence?
Michael Andrew Rosenfeld. “Casinos represent a host of identifiable scenarios. Victory, defeat, the thrill of the unknown, and competition are universal traits that everyone can appreciate.”
How do these fit into the entertainment industry?
Michael Andrew Rosenfeld. “If we think about it for a moment, the situations mentioned above also apply to major sectors such as sports, and the film industry. After all, we’re naturally attracted to a story fraught with uncertainties; especially if a clear winner will be declared in the end.”
Do you think that casino owners realise the power they possess over the entertainment sector?
Michael Andrew Rosenfeld. “I don’t think the word ‘power’ is appropriate here,” he quickly responds. “Influence is a better description. In the same respect, entertainment trends can also impact how casinos operate.”
That’s interesting. Can we ask you for another example?
Michael Andrew Rosenfeld. “The most recent innovations come in the form of virtual reality. For instance, one of my Instagram followers claims that real-world slot machines may soon be equipped with VR (virtual reality) headsets.”
Are some types of entertainment more related to gambling than others?
Michael Andrew Rosenfeld. “Absolutely. Sports is at the top of the list. These competitions have been tied to gambling for hundreds of years.”
Is this the reason why we’re witnessing a growing number of sports personalities becoming involved with the world of gaming?
Michael Andrew Rosenfeld. “Partially, yes. However, we also need to mention that casino-related investments can represent extremely profitable positions. To put it simply, some are in it for the money.”
What about major sponsorship packages?
Michael Andrew Rosenfeld. “These illustrate just how popular casinos have become,” Michael Andrew Rosenfeld firmly states. “Organisations understand what keeps fans coming back for more, and wagering is a perennial favourite.”
Is this also the reason why we’ve seen a rise in the number of casino/sportsbook hybrid platforms?
Michael Andrew Rosenfeld. “I have no doubt that this is the case. Also, we need to remember that digital technology has advanced to the point where real-time wagering is now a reality.”
This leads us to another question. What influence has the digital sector begun to have across the entertainment industry?
Michael Andrew Rosenfeld. “The best example I can give involves the notion of gamification; providing players with rewards for remaining loyal. This model has already been adopted by major firms such as Netflix, and Amazon Prime.”
How do economics fit into the picture?
Michael Andrew Rosenfeld. “Think about the profits accrued by Las Vegas alone,” Michael Andrew Rosenberg begins. “This revenue can then be pumped back into the local economy; providing numerous opportunities for entertainment-related ventures. Extrapolate this scenario to the global economy, and we can begin to see the effects.”
Do you feel that the younger generation is particularly receptive to the entertainment value of casinos?
Michael Andrew Rosenfeld. “There is no room for debate here. This generation is attracted to the glitz and glamour lifestyle that casinos often portray. From influencer marketing specialists to branded advertising campaigns, casinos enjoy a massive market share.”
Are there any downsides associated with this multifaceted relationship?
Michael Andrew Rosenfeld. “I’ve also asked myself this question through the eyes of an investigative journalist. Casinos need to provide realistic expectations, and they should always be held fully accountable for their actions. This is the best way to avoid issues such as a gambling addiction.”
Do casinos also impact other leisure-related trends that might not be apparent to the average consumer?
Michael Andrew Rosenfeld. “There are a few examples which come to mind. Casino-themed nightclubs, the rising popularity of social gaming, and the use of NFTs (non-fungible tokens) as in-play rewards are all industries that are being shaped by casinos.”
How have digital platforms impacted the overall entertainment landscape?
Michael Andrew Rosenfeld. “While these portals offer democratised access to players, they also face stiff competition. This is why we’re seeing the top brands actively pursuing partnerships with major third-party entertainment firms in an attempt to gain more online clout.”
What does the future of the casino industry have in store in terms of the entertainment sector?
Michael Andrew Rosenfeld. “I believe that we’ll see the lines blurred between digital platforms, and their brick-and-mortar counterparts. This will provide even more opportunities for casinos to hold sway over the larger entertainment community.”
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