Major players in the casino market are 888 Holdings Plc, Boyd Gaming Corporation, Caesars Entertainment Corporation, City of Dreams Manila, Delaware Park Casino & Racing, Dover Downs Hotel & Casino, Eldorado Resort Casino, Foxwoods Resort Casino, Galaxy Entertainment Group Ltd., Golden Nugget Atlantic City Hotel Casino & Marina, Harrington Raceway & Casino, LC International Limited, MGM Resorts International, Palms Casino Resort, and Penn Entertainment Inc.
The global casino market is expected to grow from $99.87 billion in 2022 to $145.92 billion in 2023 at a compound annual growth rate (CAGR) of 46.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The casino market is expected to reach $163.71 billion in 2027 at a CAGR of 2.0%.
The casino market includes revenues earned by providing a variety of games such as poker, craps, bingo, baccarat, big six wheels, and slot machines. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
A casino is a facility that offers customers various forms of gambling activities.The primary purpose of casino is to entertain its customers while also giving them the opportunity to win money.
They also provide amenities like as restaurants, motels, and live entertainment to enhance their visitors’ overall experience.
Asia-Pacific was the largest region in the casino market in 2022. The regions covered in casino report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of casino include gambling machines, gaming tables, and others.A gambling machine that is used by placing coins into a slot and pulling a handle to activate a set of spinning symbols on wheels.
These are distributed by offline and online channels for various end users such as routellte and Vr version.
The increased demand for online gambling is expected to propel the growth of the casino market going forward.Online gambling refers to the use of internet to place bets and earn money.
Online gambling helps casino market to grow by taking place on a digital platform and placing bets with credit cards rather than cash, and both winnings and losses are settled electronically. For instance, in December 2021, according to the European Gaming and Betting Association, a Belgium-based trade association representing the online gambling operators, Europe’s online gambling revenue is predicted to reach €36.4 billion ($39.06 billion)- 41.7% of total gambling revenue in 2021, a 19% increase over 2020 levels. However, land-based gambling revenue is predicted to rise somewhat to €50.8 billion ($54.51 billion)- 58.3% of total gambling revenue in 2021, up 0.4% from 2020. Therefore, the increased demand for online gambling is driving the growth of the casino market.
Product innovation is a key trend gaining popularity in the casino market.Companies operating in the casino market are focused on innovative products to reinforce their position in the market.
For instance, in March 2023, MGM Resorts International, a US-based sports betting and iGaming operator, launched MGM Riches, a first-ever custom slot experience that can be played both online via BetMGM and as a traditional slot game based on BetMGM’s iCasino platform or in person at MGM Resorts sites across the nation. MGM Riches refers to a multi-denomination, multi-level progressive slot game that offers players two themes such as MGM Riches Triple Ruby and MGM Riches 5x Sapphire.
In July 2022, 888 Holdings PLC, a UK-based betting and gaming company, acquired William Hill International for $2.35 billion. This acquisition brings together two high-quality businesses to create a powerful, global betting and gaming business with leading technology, products, and brands across sports betting and gaming. William Hill International is a UK-based gambling company that offers sports betting, online poker, online casino games, and online bingo.
The countries covered in the casino market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The casino market research report is one of a series of new reports that provides casino market statistics, including casino industry global market size, regional shares, competitors with a casino market share, detailed casino market segments, market trends, and opportunities, and any further data you may need to thrive in the casino industry. This casino market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.