According to the latest report release by ResearchAndMarkets.com, the global casino is thriving. The annual growth is significant and it is expected to be even higher by the year 2028. The CAGR or the compound annual growth rate is expected to be 4.6%.
The compound annual growth rate of the global gaming industry in 2024 is even higher than 5.2%. The casino market size increased compared to last year. Its revenue is now one hundred thirty-eight point twenty-six billon. In 2023, the annual rate was one hundred thirty-one point forty-two billion. By 2028, it is estimated to increase to one hundred sixty-five point seventy-two billion.
In the coming years, different factors will affect the industry, especially the digital transformation. The digital transformation is present in almost every part of the casino industry. The online gambling revenue back in 2021 was 58.3%. The steady growth in the upcoming years is expected.
The new era in the whole casino industry began with digitization and increased popularity of online gaming. This led to the opening of the cryptocurrency casinos. Cryptocurrency casinos popularity is still growing and the experts predict that these are the casinos of the future.
The casino industry focuses on innovations that is helping them stand out in the market and improve their players’ experience. They also focus on responsible gaming and improving ways to prevent problem gambling.
The companies invest most in the expansion of online gambling, smartphone proliferation, different innovative and unique casino products. They are also working hard on establishing important strategic industry partnerships.
Slot machines and table games are the most popular games in casinos. The industry is looking for a way to improve its operations. They upgrade them using the newest technologies to increase the players’ experience.
Since the tourism in the Asia-Pacific region is growing rapidly as well, the growth in this region is the most significant.