Global Casino and Gaming Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Casino and Gaming Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Market Overview:

The latest research study on the global Casino and Gaming market finds that the global Casino and Gaming market reached a value of USD 204875.0 million in 2022. It’s expected that the market will achieve USD 312680.0 million by 2028, exhibiting a CAGR of 7.3% during the forecast period.

Offline Casino

A large number of offline casinos have been forced to close, and time to reopen and ramp up once reopened is incalculable. Such as the U.S. gaming industry, has been effectively shut down, with all 465 commercial casinos now closed. Most companies in the industry have shifted their focus to balance sheets and liquidity. During the shutdown period, employees still need to pay their salaries and basic operating expenses such as rent, which is a very heavy burden on every company when there is almost no profit. It is expected that the casino industry will be repaired after the epidemic is over, and the epidemic will accelerate the industry integration; the industry's cash flow is under pressure in the short term, and the operating conditions are expected to recover quickly after the epidemic ends.

Online Casino

Online casinos are much less burdened in terms of operating costs, but both COVID-19's impact on the economy and consumer behavior in the short and long term and heightened concerns surrounding COVID-19 continue to cause volatility across gaming markets with a flight to cash is inevitable. At the same time, although online casinos can still operate, as usual, almost all international sports events have been suspended, which is also a main impact on the online casino industry.

Strength

The casino has highly skilled staff with successful training and mature learning programs. The companies have been investing huge resources in the training and development of its employees resulting in a workforce that is not only highly skilled but also motivated to achieve more.
Strong customer network: Over the years Casino has built a reliable market network that can reach the majority of its potential market.
Good Returns on Capital Expenditure: Casino is relatively successful at the execution of new projects and generated good returns on capital expenditure by building new revenue streams.
Strong Free Cash Flow: Casino has strong free cash flows that provide resources in the hand of the company to expand into new projects.

Weakness

The industry's leading companies are too competitive: Even though casino spending on research and development exceeds the industry average, it still cannot compete with the industry's leading companies in terms of innovation.
This is a buyer's market. Customers have high bargaining power and high arbitrariness in choosing companies. A large amount of cost is required to ensure customer loyalty.
The company was unable to cope with the challenges faced by new entrants in the market segment and lost a small market share in the niche market. The casino can only respond to these challenges from the internal feedback mechanism established by the internal team.

Region Overview:

Geographically, Asia-Pacific held the largest market share – 47.44% in 2022.

Company Overview:

Las Vegas Sands Corporation is one of the major players operating in the Casino and Gaming market, holding a share of 4.62% in 2023.

Las Vegas Sands Corporation

Las Vegas Sands (LVS) is the pre-eminent developer and operator of world-class Integrated Resorts that feature luxury hotels; best-in-class gaming; retail; dining and entertainment; Meetings, Incentive, Convention and Exhibition (MICE) facilities; and many other business and leisure amenities. We pioneered the MICE-driven Integrated Resort, a unique, industry-leading, and extremely successful model that serves both the business and leisure tourism markets.

MGM Resorts International

MGM Resorts International is an American global hospitality and entertainment company operating destination resorts in Las Vegas, Detroit, Mississippi, Maryland, and New Jersey, including Bellagio, Mandalay Bay, MGM Grand, and Park MGM. In January 2019 the company took over Empire City Casino in Yonkers, New York, and also opened MGM National Harbor in Maryland and MGM Springfield in Massachusetts.

Segmentation Overview:

Among different product types, Land-based Casino Gaming segment is anticipated to contribute the largest market share in 2028.

Application Overview:

In the Casino and Gaming market, 35.52% of the total value was generated through the Baccarat segment by application in 2022.

Key Companies in the global Casino and Gaming market covered in Chapter 3:

Las Vegas Sands Corporation
Genting Group
Melco Resorts & Entertainment
888 Holdings plc
SJM Holdings
Kindred Group
Wynn Resorts
MGM Resorts International
Caesars Entertainment Corporation
Betsson AB
Galaxy Entertainment Group
William Hill

In Chapter 4 and Chapter 14.2, on the basis of types, the Casino and Gaming market from 2018 to 2029 is primarily split into:

Land-based Casino Gaming
Online Casino Gaming

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Casino and Gaming market from 2018 to 2029 covers:

Baccarat
Black Jack
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)