The global casino hotel industry had a market worth USD 191 billion in 2022, and it is anticipated that it will reach a market value of USD 321.4 billion by 2033, growing at a CAGR of 4.8%. The market for tourism is expanding, which may be linked to rising traveler interest in these casino hotels.
The demand for casino hotels is surging owing to the double-digit growth of the hospitality sector in the last ten years and expanding inclination of tourists for luxury hotels is giving way to widened opportunities for the global casino hotel market.
Casino hotel establishments consist of a full-fledged casino with a temporary lodging facility which is provided in an on-premises hotel. Customers visiting a casino hotel receive the advantages of both lodging and gambling facilities. All the gamblers’ essentials can be provided in a single location as the hotel and casino are located on the same premises.
The casino hotel market share is said to gain momentum since it offers all the popular forms of gambling which include poker, blackjack, slots, roulette, etc. A casino hotel provides food and beverages, lodging, valet parking, swimming pools, and other popular hotel services.
| Report Attributes | Details |
|---|---|
| Estimated Market Value (2022) | USD 191 billion |
| Expected Market Value (2023) | USD 214.5 billion |
| Projected Forecast Value (2033) | USD 321.4 billion |
| Anticipated Growth Rate (2023 to 2033) | 4.8% CAGR |
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The global demand for casino hotel market is projected to increase at a CAGR of 4.8% during the forecast period between 2023 and 2033, reaching a total of USD 321.4 billion in 2033, according to a report from Future Market Insights (FMI). From 2018 to 2022, demand witnessed significant growth in the global casino hotel market, registering a CAGR of 3.1%.
The casino hotel market has experienced remarkable growth in the past few years. This has led the industry’s sector investors to invest and establish several luxurious casino hotels in many prime regions. The casino hotel industry generates revenues from numerous services and amenities such as entertainment, food, beverages, dining, rooms, lodging, casino, and gaming, etc. Many casino hotels across the world are taking over the lodging and hotel industry in terms of tourist preference at a rapid rate.
The demand for casino hotels is witnessing upscale owing to the altering trends in vacations in emerging countries because of increasing disposable income. This is leading to an expansion of prospects for the casino hotel market. The casino hotel industry market share usually sees a spike in the summer and spring seasons as individuals prefer traveling in favorable weather conditions as compared to winter.
Immense Work opportunities to bolster Demand
There are various aspects that promote the exponential growth of the casino hotel industry. In a country’s economic development casino hotel industry plays a significant role. This industry offers a broad array of career opportunities such as gaming managers, supervisors, security guard positions, slot machine supervisors, gaming dealers, etc.
Strengthening work opportunities in the casino hotel industry is also favoring the casino hotel market. Front desk, technical assistance, food and dining, entertainment, gardens, and other maintenance are a few areas that demand skilled individuals for casino hotels.
Increasing Trend towards Vacations is Expected to Propel the Global Growth
Changing lifestyles and increasing demand for leisure time because of a busy and hectic lifestyle, are the two primary factors that encourage the growth of the casino hotel market. The rise in tourism across the globe is another factor that promotes the market growth of casino hotels.
In developing countries, individuals in urban areas are now opting for luxury vacations at overseas destinations for quality family time and relaxation. The practice of lux vacations by people from developed nations is catching up in emerging countries as well and this is boosting the casino hotel market growth.
Online reservations make it convenient and easier for tourists and staff members to make alterations in accommodation and exchange information pertaining to current offers, best deals, etc. This aspect of convenience results in an increasing number of travelers and thereby promotes the growth of the casino hotel market.
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Economic Recession to Impede the Global Market Growth
One of the key challenges faced by the casino hotel industry is the global economic recession. The demand for the casino hotel industry could possibly be in a declining phase leading to dropping sales figures due to the potential decline of the economy. The decreasing international as well as domestic travel will the primary detrimental factor to the lucrative growth of the casino hotel industry.
The Poker game takes the Cake in the Global Market
In 2022, the casinos hotel where poker was mostly played gained a significant share of 45.8% in the global market. A classic and well-liked casino game, poker has been played for centuries. It has existed around throughout the early 1800s, and its popularity has steadily increased over time. It has grown to be one of the card games with the greatest popularity in casinos all over the world in recent years.
The fundamental draw of poker is its straightforward rules, which are easy for anybody to understand. The players' desire to defeat their rivals and win the pot also serves to underline the game's emphasis on competition. Poker places a greater emphasis on player ability than the majority of other casino games. In the gambling game of poker, talent and strategy are just as important as chance. Chance, as in any gaming, plays a role in how you handle the hand you've been given.
Poker's widespread appeal and competitive nature may be credited for its success. It has soon overtaken other casino games as the most popular one on the world due to its straightforward but strategic gameplay.
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Increasing Number of Casinos and Consumer Trend towards Vacations to Boost Growth
North America is the dominating region in the casino hotel market. The United States is contributing to the major market share in this region owing to the advancement of the gaming and casino sector, and the existence of a few of the globally famous casino cities in the country is accountable for the major revenue of the region in the casino hotel market.
'Sin City' is a nickname given to Las Vegas because of its gaudy status as the nation's gambling center. The top casino destination in the globe has always been Las Vegas. The city's hotels and resorts serve as excellent destinations for playing casino games.
The North American region is said to have held 35% of the global market share casino hotel market share in 2022. The market for casino hotels in North America has recently been impacted by both the expansion of internet gaming and changing customer tastes. Several casino hotels have invested in innovative services and experiences in order to differentiate their business and attract a larger spectrum of guests.
Increased Investment in the Gaming Sector to Bring in More Revenues
In the global market for casino hotels, Asia Pacific is a further significant area. The region's casino hotel sector generates significant amounts of money from Singapore, South Korea, China, and portions of Australia.
The rising popularity of luxury vacations that include visits to adjacent casinos and gaming locations in emerging nations like India further boosts the income of the Asia Pacific casino hotel business.
In 2022, the Asia Pacific region was estimated to have acquired 29.85% of the global market share. The market is anticipated to boom through 2033 as a result of the growing investments made by international gaming corporations in the developing nations in the area. Rising license approvals will open up more profitable and rewarding chances for market expansion.
Key competitors are pursuing innovative development strategies as well as concentrating on mergers and acquisitions to preserve their position in the competitive casino hotel industry.
The key players in this market include:
| Report Attributes | Details |
|---|---|
| Growth Rate | CAGR of 4.8% from 2022 to 2032 |
| Market value in 2023 | USD 214.5 billion |
| Market value in 2033 | USD 321.4 billion |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | USD billion for value |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Type, Consumer Orientation, Age Group, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; Middle East and Africa |
| Key Countries Profiled | United States, Canada, Mexico, Brazil, Germany, United Kingdom, France, Spain, Italy, Poland, Russia, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, Japan, China, South Korea, GCC countries, South Africa, Israel |
| Key Companies Profiled |
Palms Casino Resort; Caesars Entertainment Corporation; City of Dreams Manila; Eldorado Resort Casino; Foxwoods Resort Casino; Galaxy Entertainment Group Ltd; MGM Resorts International; Palms Casino Resort; DraftKings Inc.; Wynn Resorts Limited |
| Customization & Pricing | Available on Request |
The growth potential of this market is 4.8% through 2033
North America is projected to emerge as a lucrative market.
Economic recession impedes global market growth.
Asia Pacific generated 29.85% revenue in 2022.
Immense work opportunities drive sales in this market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type 5.1. Poker 5.2. Blackjack 5.3. Roulette 5.4. Slots 5.5. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Consumer Orientation 6.1. Men 6.2. Women 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Age Group 7.1. 18 to 35 Years 7.2. 36 to 50 Years 7.3. 50 Years and Above 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Palms Casino Resort 18.2. Caesars Entertainment Corporation 18.3. City of Dreams Manila 18.4. Eldorado Resort Casino 18.5. Foxwoods Resort Casino 18.6. Galaxy Entertainment Group Ltd 18.7. MGM Resorts International 18.8. Palms Casino Resort 18.9. DraftKings Inc. 18.10. Wynn Resorts Limited 19. Assumptions & Acronyms Used 20. Research Methodology
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Casino Hotel Market
