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Gambling
First Research, April 2012, Pages: 10
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Executive Summary
Brief Excerpt from Industry Overview Chapter:
The US gambling, or gaming, industry consists of about 500 casinos, about 400 Indian casinos and bingo halls, and lotteries in about 40 states with combined annual revenue of about $80 billion. Companies with large casino operations include Harrah's Entertainment, MGM Resorts, and Boyd Gaming. About $30 billion of annual revenue is taken in by commercial casinos, $25 billion by Indian casinos, another $14 billion by state lotteries, and the rest by horse racing, bingo, charities, and bookmaking. (For gambling companies, 'revenue' is the total amount bet minus winnings paid to gamblers.) Most casinos are small, limited by the size of the surrounding population. The industry is concentrated: the top 50 gaming companies hold about 60 percent of the market. The casino hotel market is even more concentrated, with the top 50 firms holding 90 percent of the market.
Worldwide, gambling generates about $390 billion in revenue, according to Global Betting & Gaming Consultants (GBGC). Major companies including Lottomatica (Italy), Tabcorp (Australia), and William Hill (UK).
COMPETITIVE LANDSCAPE
Demand for gambling is driven by consumer income growth and state spending. The profitability of individual companies depends on efficient operations and effective marketing. Large operators have the financial resources to make large investments in facilities and efficient computer operations, and have cross-marketing opportunities. Small gambling facilities can thrive by catering to local residents, who may not be able to afford travel to gambling centers such as Las Vegas or...
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