Casino Global Market Report 2024

The casino market size has grown strongly in recent years. It will grow from $131.42 billion in 2023 to $138.26 billion in 2024 at a compound annual growth rate (CAGR) of 5.2%. During the historical period, the expansion can be credited to several factors, including the prevalence of traditional gambling culture, the evolution of regulatory frameworks, the appeal of tourism and destinations, integration with entertainment and hospitality sectors, economic trends, and consumer spending patterns.

The casino market size is expected to see steady growth in the next few years. It will grow to $165.72 billion in 2028 at a compound annual growth rate (CAGR) of 4.6%. Anticipated growth in the upcoming period is expected due to several factors, notably the ongoing digital transformation within the gambling industry, the rise of cryptocurrency casinos, adaptations in regulations to accommodate online gambling, advancements in gaming technologies, and an increased emphasis on promoting responsible gambling practices. Key trends projected in the forecast period encompass cross-industry collaborations, heightened attention to data security measures, shifts in demographics impacting the gambling landscape, considerations of global economic influences, and a growing focus on environmental sustainability within the industry.

The surge in online gambling is anticipated to be a major driving force for the casino market. Online gambling, facilitated through internet platforms, involves betting and monetary transactions conducted electronically. The digital nature of online gambling allows transactions to occur using credit cards instead of cash, and winnings and losses are settled electronically. In December 2021, the European Gaming and Betting Association reported that Europe's online gambling revenue was projected to reach €36.4 billion ($39.06 billion), constituting 41.7% of total gambling revenue for the year. This growth in online gambling is in stark contrast to the relatively modest increase expected in land-based gambling revenue, reaching €50.8 billion ($54.51 billion) or 58.3% of the total gambling revenue in 2021. Thus, the heightened demand for online gambling is a significant catalyst for the casino market's expansion.

The proliferation of smartphones is poised to be another influential factor propelling the casino market's growth. Smartphones, handheld electronic devices with advanced computing features, internet connectivity, and touchscreen interfaces, have become prevalent worldwide. These devices facilitate convenient access to casino games from any location, offering diverse game options, 24/7 availability, secure payment methods, and exclusive promotions. In March 2023, Cybercrew reported that smartphone usage in UK households had reached 91.43% in 2021, with a projected increase to 93.8% by 2026. The rising penetration of smartphones contributes to the casino market's expansion by providing users with easy access to a variety of casino offerings.

Innovation in product offerings represents a key trend in the casino market, with companies striving to introduce novel products to strengthen their market position. An example is MGM Resorts International's launch of MGM Riches in March 2023. MGM Riches is a pioneering custom slot experience available both online through BetMGM and as a traditional slot game at MGM Resorts locations nationwide. This multi-denomination, multi-level progressive slot game offers two themes - MGM Riches Triple Ruby and MGM Riches 5x Sapphire. MGM Resorts International's commitment to product innovation aligns with the broader trend within the casino market.

Major players in the casino market are strategically partnering to enhance their capabilities. Strategic partnerships involve leveraging the strengths and resources of each company to achieve mutual benefits and success. An example of such collaboration occurred in November 2023 when EveryMatrix, a Mata-based B2B iGaming software provider, entered into a partnership with Caesars Digital, a Las Vegas-based gaming company. This strategic alliance aimed to integrate EveryMatrix's gaming content into Caesars Palace Online Casino and Caesars Sportsbook & Casino in North America. Through this collaboration, clients of Caesars Digital in various US states gained access to a diverse range of real-money games developed by EveryMatrix's in-house studios.

In July 2022, 888 Holdings PLC, a UK-based betting and gaming company, acquired William Hill International for $2.35 billion. This acquisition marked the consolidation of two high-quality businesses, creating a formidable global betting and gaming entity with leading technology, products, and brands spanning sports betting and gaming. William Hill International, the UK-based gambling company acquired by 888 Holdings PLC, offered a range of services including sports betting, online poker, online casino games, and online bingo. These strategic partnerships showcase the industry's trend of major players joining forces to enhance their market positions and capitalize on shared strengths and expertise.

Major companies operating in the casino market report are 888 Holdings plc, Boyd Gaming Corporation, Caesars Entertainment Corporation, Melco Resorts and Entertainment Limited, Delaware Park Casino & Racing, Eldorado Reno 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, Penn Entertainment Inc., Bally's Corporation, Churchill Downs Incorporated, Genting Group, Golden Entertainment Inc., Hard Rock International Inc., SJM Holdings Limited, Station Casinos LLC, Star Entertainment Group Limited, Tropicana Entertainment Inc., Wynn Resorts Limited, Las Vegas Sands Corp., Red Rock Resorts Inc., Eldorado Resorts Inc., Monarch Casino & Resort Inc., Pinnacle Entertainment Inc., Isle of Capri Casinos Inc.

Asia-Pacific was the largest region in the casino market in 2023. The regions covered in the casino market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the casino market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Key categories within a casino encompass gambling machines, gaming tables, and other related offerings. Gambling machines involve mechanisms where coins are inserted into slots, and a handle is pulled to initiate spinning symbols on wheels. These machines are available through both offline and online channels, catering to a range of end users, including roulette and VR versions.

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.

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.


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