The global casino market has almost tripled in size over the last two decades according to new research into the vertical.
Figures compiled by Catena Media show the combined land-based and online casino sector was worth $130bn in 2019, compared to gross gaming yield of $50bn in 2001.
The growth of online has played a crucial role in this growth, and the Catena research predicts that the financial size of online gambling will double from $45.8bn in 2017 to $94.4bn in 2024. Online win has soared to 14.0% of total win in 2020 compared to just 6.6% in 2008.
Casino has grown in importance within gambling over the last couple of decades, having accounted for around a quarter of the market for the last few years. In 2007 it accounted for 20% of total gambling, but this shot up to 26% in 2014 and was estimated to make up 25% in 2021. At the same time poker has fallen from 19% in 2007 to just an estimated 7% in 2021.
The study also shows that four of the world’s five most successful casino groups are American with Las Vegas Sands at the top of the list with revenue of $13.8bn in 2018. MGM Resorts and Caesar’s Entertainment are followed by Hong Kong’s Galaxy Entertainment and Wynn Resorts.
The biggest in terms of size is the huge WinStar World Casino in Oklahoma which, at 600,000 square feet, is more than three times as big as Las Vegas’ biggest venue, the MGM Grand. The Venetian Macao is second on the list, ahead of Macao’s City of Dreams.
Joevrem Curmi, Catena Media SEO product specialist, said: “We wanted to take a deep dive into the entire casino industry to look back at how all elements of the sector have grown and changed over the past 20 years, as well as how the landscape might evolve in years to come.
“The results are fascinating and although the world is facing some serious challenges at the moment, the outlook is positive for both land-based and online casino as we progress towards the middle of the 21st century.”