Report: iGaming Has Propelled Industry Growth
The global casino industry has nearly tripled over the last 20 years, according to research that shows the land-based and online industries were worth $130 billion in 2019, up from $50 billion in 2001. WinStar (l.) in Oklahoma is the biggest casino, at 600,000 square feet.
Since 2001, the global casino industry has almost tripled in size, according to new research conducted by Catena Media. According to the group’s report, the land-based and online casino industries were worth $130 billion in 2019, up from $50 billion in 2001, and iGaming was a major catalyst for growth.
Looking ahead, per the research, online gambling will double from $45.8 billion in 2017 to $94.4 billion in 2024. In addition, online win has climbed to 14 percent of total win in 2020 compared to just 6.6 percent in 2008.
Casinos accounted for around a quarter of the market over the last few years, the report stated, and comprised one-fifth of total gambling in 2007. This increased to 26 percent in 2014 and is projected to make up 25 percent in 2021. Concurrently, poker fell from 19 percent in 2007 and should only account for 7 percent in 2021.
The study also shows that four of the world’s five most successful casino groups are U.S.-based, with the Las Vegas Sands Corp. at the top of the list with revenue of $13.8 billion in 2018. MGM Resorts and Caesars Entertainment ranked next, followed by Hong Kong’s Galaxy Entertainment and Wynn Resorts, another U.S. company.
The biggest casino in the world is WinStar World in Oklahoma, at 600,000 square feet. The Venetian Macao is second, and City of Dreams in Macau, a Melco Resorts and Entertainment property, is third.
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.”