Casinos and Gambling Market by Platform and Geography - Forecast and Analysis 2020-2024

  • Published: Oct 2020
  • Pages: 120
  • SKU: IRTNTR41224

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The casinos and gambling market size has the potential to grow by USD 82.09 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period because of the steady increase in year-over-year growth.

This report provides a detailed analysis of the market by platform (offline and online) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape. It offers information on several market vendors, including Boyd Gaming Corp., Caesars Entertainment Corp., Crown Resorts Ltd., Flutter Entertainment Plc, Galaxy Entertainment Group Ltd., Golden Entertainment Inc., Las Vegas Sands Corp., MGM Resorts International, SJM Holdings Ltd., and William Hill Plc.

Market Overview

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Market Competitive Analysis

The casinos and gambling market is fragmented and characterized by the presence of many large and small established vendors and hence is highly competitive. Vendors are adopting new technologies and digital trends to further penetrate the market. Emerging games, changing licensing procedures, and use of advanced technologies are the strategies used by vendors for business development. The availability of several gaming options in the coming years will further intensify the market’s competitive environment. Players are focusing on the deployment of advanced security measures for online gambling, use of large-format slot machines, and adoption of big data analytics for improving customer experience. Boyd Gaming Corp., Caesars Entertainment Corp., and Crown Resorts Ltd. are some of the major market participants. Although the growing popularity of online gambling will offer immense growth opportunities, the popularity of other forms of gambling and the presence of the black market will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this casinos and gambling market forecast report provides a detailed analysis of the market leaders. It offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and provides information on the products offered by various companies. Moreover, this casinos and gambling market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

  • Boyd Gaming Corp.
  • Caesars Entertainment Corp.
  • Crown Resorts Ltd.
  • Flutter Entertainment Plc
  • Galaxy Entertainment Group Ltd.
  • Golden Entertainment Inc.
  • Las Vegas Sands Corp.
  • MGM Resorts International
  • SJM Holdings Ltd.
  • William Hill Plc

Casinos and Gambling Market: Segmentation by Platform

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The offline segment dominates the global casinos and gambling market, and offline gambling is popular in several counties across the globe. Offline gambling remains a viable option for casino gaming due to privacy issues in online platforms, lack of technology adoption, and the prevalence of government regulations that only allow casino gaming through offline channels. Offline platforms such as land-based casinos and stand-alone gaming machines provide various benefits, owing to which the segment still holds the largest share in the market. 

However, market growth in this segment will be slower than the growth of the market in the online segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the casinos and gambling market size.

Casinos and Gambling Market: Segmentation by Geography

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APAC was the largest casinos and gambling market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. 50% of the market’s growth will originate from APAC during the forecast period. China and Singapore are the key markets for casinos and gambling in this region. APAC is one of the fastest-growing gambling markets in the world as the region is home to more than 60% of the global population and has gambling havens such as Macau. The improvement in infrastructures such as better Internet connectivity and improved telecommunication network is further supporting the growth of the market in the region. 

Casinos and Gambling Market: Key Drivers and Trends

The growing popularity of online gambling will be a significant factor driving the growth of the casinos and gambling market. This rising popularity of online gambling can be attributed to the high level of security and flexibility provided by online casino gaming platforms. Online platforms offer high security for users, as they have to go through multiple levels of verification before playing games online. Apart from quick and easy signup, online gambling platforms allow people to experience the thrill related to land-based casinos at the comfort of their home with the use of PCs or mobile devices. The growing penetration of the Internet and smartphones have further facilitated online gambling. Several market vendors are using online platforms as an expansion strategy in areas or countries where land-based casinos are illegal, but online gaming platforms are allowed to operate.

  • The legalization of gambling will also positively influence the growth of the casinos and gambling market during the forecast period.
  • Forms of gambling such as lotteries are a source of funding that is used to improve public infrastructure, and casinos create employment opportunities.
  • Governments in various countries across the world are lifting regulations on gambling activities.
  • The easing of gambling regulations across the globe has increased participation in casino gaming, especially through online platforms.
  • During 2020-2024, the casinos and gambling market will grow at a CAGR of about 10%. 

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Casinos and Gambling Market: Key Highlights of the Report for 2020-2024

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive casinos and gambling market growth during the next five years
  • Precise estimation of the casinos and gambling market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the casinos and gambling industry across APAC, Europe, MEA, North America, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of casinos and gambling market vendors

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases

DATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts

REPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The casinos and gambling market growth will increase by $82.09 billion during 2019-2024.
The casinos and gambling market is expected to grow at a CAGR of 10.07% during 2019-2024.
Technavio has segmented the casinos and gambling market by platform (Offline and Online) and geographic (APAC, Europe, North America, MEA, and South America).
Boyd Gaming Corp., Caesars Entertainment Corp., Crown Resorts Ltd., Flutter Entertainment Plc, Galaxy Entertainment Group Ltd., Golden Entertainment Inc., Las Vegas Sands Corp., MGM Resorts International, SJM Holdings Ltd., William Hill Plc are a few of the key vendors in the casinos and gambling market.
APAC will register the highest growth rate of 49.71% among the other regions. Therefore, the casinos and gambling market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the casinos and gambling market growth are:
  • Growing popularity of online gambling
  • Increasing use of social media marketing
The casinos and gambling market vendors should focus on grabbing business opportunities from the offline segment as it accounted for the largest market share in the base year.
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