Latest News- Casino Gaming Market: Land-based casino gaming is expected to lead the Type segment during 2024-2028

The Casino Gaming Market is being driven by Growth in spending capability of customers

The Casino Gaming Market is expected to grow at a CAGR of 3.2% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 43.3 billion. In the contemporary casino industry, social media marketing has emerged as a potent tool for both online and brick-and-mortar operators to engage potential customers. With the proliferation of smartphones and enhanced Internet connectivity worldwide, social media platforms such as Facebook, Twitter, Pinterest, Instagram, and YouTube have gained significant traction among consumers. These platforms are utilized extensively, with users spending approximately 1-4 hours daily. Vendors have recognized the potential of these channels and are implementing innovative marketing strategies to boost gambling activities and casino promotion. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Land-based casino gaming
  • Online casino gaming
• Product
  • Slot machines
  • Lottery ticket machines
  • Electronic roulette
  • Multiplayer game stations
  • Gaming servers
• Casino Type
  • Commercial
  • Tribal
  • Limited stakes
• Geography
  • North America
    • Canada
    • US
  • APAC
    • China
  • Europe
    • Germany
    • France
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growth in spending capability of customers
• Increase in penetration of online casino gaming
• Growing popularity of online gambling

However, the market also witnesses some limitations, which are as follows:

• Difficulties in securing online payments
• Jackpot fatigue in casino gaming
• Increasing instances of online scams

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Market Scope in Casino Gaming Market Research Report

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Research Analysis Overview

The global casino gaming market encompasses both offline and online platforms, offering various games such as Poker, Blackjack, Roulette, Slot machines, and more. Offline casinos, including integrated resorts and entertainment centers, serve as popular travel destinations for domestic tourists and international visitors, generating substantial gross gaming revenues. However, problem gambling is a significant concern, leading to responsible gambling initiatives and regulations. In the digital realm, online casinos and sports betting sites offer Electronic Games (EGMs) like slots, poker, and bingo games. House edge, the advantage casinos have over players, is a crucial factor in both offline and online gaming. In the Philippines, the Philippine Amusement and Gaming Corporation (PAGCOR) regulates licensed casinos, overseeing non-junket and junket operations. Junket operators bring high rollers to casinos, contributing significantly to revenues. Electronic gaming machines (EGMs) are a significant source of income for casinos, accounting for a large portion of their revenues. Despite the entertainment value, it's essential to remember that casino gambling involves risking money.

Market Research Overview

In the Casino Gaming Market, licenses serve a pivotal function in governing the industry and maintaining a lawful and crime-free environment. On-location casinos necessitate several types of licenses for their operations. A mandatory requirement is the Operating License, which authorizes casinos to manage specific gambling facilities. For casinos providing gambling services from fixed premises, it is essential to acquire a Premises License or a Non-Remote Casino Operating License, ensuring the legality of the gambling venue. Additionally, a Personal Management License is mandatory for individuals holding managerial positions, while those performing specific functions require a Personal Functional License. It is imperative for casinos to adhere to these licensing requirements to ensure regulatory compliance.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/