According to the latest report from ResearchAndMarkets.com, the global casino market is thriving. The annual growth rate is significant and is expected to be even higher by 2028. The compound annual growth rate (CAGR) is expected to be 4.6%.
Ever-growing online gaming market
In 2024 the average annual growth rate is even bigger: 5.2%. The size of the casino market has increased compared to last year and its value is now $138.26 billion. In 2023 the annual turnover was $131.42 billion and it is estimated to increase to $165.72 billion by 2028.
Several factors will influence the industry, especially in the coming years digital transformation which is present in almost all areas of the casino industry. In 2021, there was no revenue from online gambling 58.3% of total sales and steady growth are expected in the coming years.
Digitalization marked the beginning of a new era in the entire casino industry the growing popularity of online games. This led to the opening of Cryptocurrency Casinoswhose popularity continues to grow, but experts predict that these are the casinos of the future.
The casino industry is focused on Innovations that help them stand out in the market and improve the gaming experience. In addition, the focus is on Responsible gaming and improve prevention options Problems with gambling.
Companies are the ones investing the most in expansion online gambling And the spread of smartphonesas well as in various innovative and unique casino products. In addition, they work hard to establish important things strategic industrial partnerships.
The most popular games in casinos include one armed bandits And Board gamesand the industry is looking for a way to improve its operations by updating them and using the latest technologies to improve the gaming experience.
Operations and strategic plans
The growth is most significant in the Asia-Pacific regionas tourism is also growing rapidly in the region.
The year behind us will be remembered for several strategic partnerships and acquisitions that helped industry leaders such as 888 Holdings PLC And Caesars Entertainment Corporation to strengthen their position in the global market and allow small businesses to expand their reach to several key markets around the world. Companies, especially the major key players in the industry, focus on strategic expansion and various operational strategies that allow them to reach as large a number of players as possible.
After a detailed market analysis, researchers found that cutting-edge technologies and the integration of various unique and modern gaming technologies are having a significant impact on the industry.
Spring: “Global Casino Market Report”. Research and markets. January 2024