Share
It might be all fun and games to many, but for the US casino industry, the fun and the games are big business. A new study from Global Industry Analysts Inc. endeavors to estimate exactly how big that business is.
For the current year, GIA projects the value of all casino gaming in the United States to hit $72 billion. That makes the US market by far the fattest cash cow in the world for the gaming industry.
GIA releases estimate for US casino industry
A press release announcing the study’s results says it all.
“The US remains at the forefront of casino business.”
The global study, now in its 20th edition, covered both US online casinos and retail gaming. It surveyed 151 companies across the world, many of which gamblers in the US are familiar with. These include Caesars Entertainment and MGM Resorts International.
How significant is the US’ lead in this regard? A few stats demonstrate the market dominance over others.
First off, the study projects the value of all casino gaming worldwide to reach $153.2 billion by 2026. Thus, casinos in the US are already worth over half of that value. The estimated value of casinos in Asia and the Pacific Ocean is forecast to hit $34.6 billion by 2026.
By that estimate, US casinos are worth almost twice as much now as the same in those regions will be worth in four years. What’s behind the tremendous valuation for casino gaming in the US? A myriad of factors.
US casino industry accessibility, marketing, technology driving value
A deeper look at the study reveals a few key components of success in the US. The first of those is the prevalence of casino gaming options available. In addition to the vast number of physical gaming facilities and machines across the nation, the millions of consumer devices with legal access to US gambling platforms continue to grow.
The capital and human resources casinos continue to devote to marketing themselves amplify that accessibility. The study points out the massive promotional spend by online gambling channels in customer acquisition as part of this component.
Finally, technology drives everything. That applies to brick-and-mortar casinos, too. As the study says:
“Though the casino industry has been in operation since the 17th century, technology advancements are driving growth in mobile gaming and also fueling new customer-centric adaptations in land-based casinos.”
Final reporting for the year from states and tribal gaming entities will tell whether that $72 billion estimate is correct. If it’s accurate, there’s no doubt that the United States is the top casino market in the world.
