For years, there has been a great deal of discussion around how iGaming would affect traditional brick-and-mortar casinos. Would it cannibalize land-based revenue? Would it create an entirely new customer base? Or would it simply give existing casino customers another way to play?

Early research suggested that there would be little, if any, cannibalization or dilution of land-based gaming revenue. And I believe, in the beginning, that was largely true.

But I think there was a reason for that, and it had a lot to do with the games.

American slot players had been visiting brick-and-mortar casinos for decades before online casinos became legal in the United States, beginning with New Jersey in 2013. They had their favorite games, their favorite manufacturers, and in many cases, their favorite individual machines.

When iGaming first launched, much of the content available online was unfamiliar to the traditional land-based slot player. The games they had grown accustomed to playing on casino floors weren't necessarily available on their phones or computers.

That matters more than people might think.

There has always been a debate in our industry about why people visit casinos in the first place. Is it the games? Is it the marketing? Is it the overall experience?

Perhaps because I grew up in casino operations, I am a little biased. But I have always believed that the games themselves are a major reason people visit casinos. There is a reason one of the industry's most recognizable manufacturers built its marketing around the idea that it's all about the games.

The Changing iGaming Landscape

Now let's fast-forward to 2026.

There are eight states that have legalized real-money iGaming, although seven currently have operational markets. And over the past several years, the major land-based slot manufacturers have increasingly brought some of their most successful content online. Not just their core products, but some of their most recognizable premium titles as well.

This is where I think things start to get interesting.

As a brick-and-mortar operator, you have a finite amount of floor space. You also have budget constraints, particularly when it comes to premium leased games. You can only have so many games on the floor, and you certainly can't have every popular title available in the quantities your customers might want.

When Familiar Slot Content Moves Online

Let's look at Lightning Link.

In July 2026, Aristocrat brought Lightning Link online, and the response was immediate. The game quickly established itself among the top-performing online titles in Eilers & Krejcik's rankings.

For operators who have known Lightning Link since its introduction in 2014, this probably isn't a surprise.

But there is an interesting contrast here. On many casino floors, the original Lightning Link titles have been in decline for some time. Aristocrat introduced several successful variations and related products, including Dollar Storm and Lightning Dollar Link, often on newer and more attractive cabinets.

I also believe the age and condition of some of the original Lightning Link cabinets have played a role. These machines have been played hard for years. Nobody enjoys sitting down at a machine with buttons that don't work properly.

The game deserves a lot of credit. It has been a tremendous product for the industry, and players have certainly gotten their money's worth out of those machines.

The Dragon Link Question

Now consider the anticipated early 2027 digital launch of Dragon Link.

Frankly, this is where I start to get a little nervous about the future of the brick-and-mortar business.

Why?

Because Dragon Link is one of the most successful slot franchises in the history of the industry. It has incredible player loyalty, tremendous staying power, and continues to be one of the strongest-performing games on casino floors around the world.

For many avid slot players, Dragon Link isn't just another game. It's one of the reasons they visit a casino in the first place.

Here is the problem for the traditional casino operator.

During peak periods, how often can a player walk up to a Dragon Link machine and find an available seat? We all know the answer.

There are only so many machines an operator can afford to lease. And even if Dragon Link is one of the property's strongest performers, an operator isn't going to dedicate its entire premium gaming budget to one franchise.

So what happens when a player can't find an available machine?

Historically, they find something else. Maybe they play another game from the same manufacturer. Maybe they move to another bank. Or perhaps they simply decide to play something different.

But now they have another option.

They have a phone in their pocket.

Imagine being able to open an app and play your favorite slot game without waiting for a machine, without having to travel to a casino, and without having to settle for something else.

Online gaming removes the physical limitations that brick-and-mortar operators have dealt with for years. There is no shortage of seats, no limitation on the number of games available, and no need to wait for someone to finish playing.

And depending on the specific online game configuration, the player may also have access to a higher return-to-player percentage.

Think about that for a minute.

The same familiar game experience, available whenever the player wants it, without having to leave home.

If I were operating a casino in one of these iGaming jurisdictions, I would be taking a very close look at my numbers.

I would start with my total theoretical win from Dragon Link, Lightning Link, and their related families.

I think these are questions operators should be asking now, rather than waiting to see what happens.

A Broader Industry Shift

Aristocrat isn't the only manufacturer bringing familiar land-based content into the online space. Light & Wonder, AGS, IGT and Konami have all been expanding their digital game libraries.

The content is getting better. The games are becoming more familiar. And the barriers that once separated the online and land-based experiences are getting smaller.

I don't believe brick-and-mortar casinos are going away. The social experience, entertainment, restaurants, hotels, service and overall casino environment still have tremendous value.

But I do believe we may be entering a different phase of the iGaming conversation.

The early research suggested that online gaming and traditional casinos could coexist without cannibalization. Perhaps that was true when the products were different and the audiences were largely separate.

But what happens when the games are no longer different?

What happens when the player can access the exact content they have spent years building loyalty around, whenever they want, with no limitations on availability?

For years, operators have competed with the casino down the street for the best games, the best promotions and the best overall experience.

Now they may be competing with the same games sitting in their customers' pockets.

And if it really is all about the games, shouldn't we be paying a lot more attention?