The casinos and gambling market is estimated to grow by $90.22 billion from 2022 to 2027, growing at a CAGR of 8.13%, according to a report from Technavio.
The casinos and gambling market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer casinos and gambling market are 888 Holdings Plc, Affinity Gaming, Boyd Gaming Corp., Caesars Entertainment Inc., Crown Resorts Ltd., Flutter Entertainment Plc, Galaxy Entertainment Group Ltd., Genting Group, Golden Entertainment Inc., Kindred Group Plc, L and L Europe Ltd., Las Vegas Sands Corp., Melco Resorts and Entertainment Ltd., MGM Resorts International, Park Lane Club, Penn National Gaming Inc., Philippine Amusement and Gaming Corp., SJM Holdings Ltd., Wozo Gaming, and Wynn Resorts Ltd.
By geography, the market is classified as North America, APAC, Europe, South America, and Middle East and Africa. North America will have the largest share of the market.
North America accounts for 38% of the growth of the global market during the forecast period. Some of the major factors that are significantly contributing to the growth of the market in North America include the growing adoption of technology and digital platforms, along with the favorable trend of states legalizing various forms of gambling.
In addition, there is a positive environment for the casino gambling market in North America due to the relaxation of regulations. Hence, such factors are driving the market growth in North America during the forecast period.
The market share growth by the offline segment is significant during the forecast period. There is an increasing preference for an offline segment for casino gaming due to privacy issues in online platforms, lack of technology adoption, and the prevalence of government regulations that only enable casino gaming through offline channels.
Offline platforms including land-based casinos and standalone gaming machines provide various advantages, due to which the segment still holds the largest share of the market. Several operators are utilizing standalone slot machines to promote casino games. These slot machines are available and accessible across various retail stores or supermarkets.
One of the main advantages of these slot machines is that they offer ease of payment, where customers bring their own devices with bets and amounts ready and simply make the payment at the counter using a smartphone or card. Hence, such factors are fuelling the growth of this segment which in turn will drive the market growth during the forecast period.
