The global casino market is expected to be worth over $150 billion by 2026
US-based market research firm Global Industry Analysts Incorporated has announced that it expects the global casino industry (land-based and online combined) to be worth more than $150 billion by 2026. Indeed, the San Francisco-based company recently released the findings of a study on its MarketGlass platform. Currently valued at $129.2 billion, the international casino market will grow at a CAGR of 3.7 percent to $153.2 billion by the beginning of 2027, according to Global Industry Analysts Incorporated.
International casino business: U.S. still leading the way
According to the latest study called Casinos: Global Market Trajectory and Analytics published by Global Industry Analysts Incorporated, the U.S. casino industry is estimated to be worth approximately $72 billion. While Canada and Europe constitute ” other markets of interest ” which are expected to grow at 3% and 3.3% annually, respectively, the Asia-Pacific casino gaming market would surpass the $34.6 billion mark by 2026.
In fact, the market research firm states in its report that “(…) The United States remains at the forefront of casino activity. Las Vegas remains a key destination for gamblers from around the world and is a major contributor to industry revenues in the region. Asia-Pacific represents a promising regional market for casino gaming worldwide. The growing popularity of destinations such as Singapore and Macau is a major factor in the growth of this region of the world. “.
Global Industry Analysts Incorporated further shared its forecast for each specific position. For example, land-based slot machines are expected to grow at an annual rate of 4.1%, bringing their total revenue weight to $77.4 billion by 2026. According to the market research firm, slot machines will soon benefit from the relaxation of government regulations. Table games are expected to grow by 3.5 percent annually.
Innovative technologies needed to shape the industry of tomorrow
The study Casinos: Global Market Trajectory and Analytics finally highlights the importance of innovative technologies to the global casino industry. According to the California-based research firm, artificial intelligence, virtual reality and 5G mobile telecommunications networks will be major drivers that will contribute to significant improvements in performance, engagement and flexibility.
” Although the casino industry has been in business since the 17th century, technological advances are driving the growth of the market, much like mobile casino games that have profoundly changed the way people are entertained. In addition, the gambling industries will experience other significant changes in the coming years, influenced by the collection and processing of digital data “, the report concludes.