Promising predictions for US casino gaming market
Technavio, the market research firm, forecasts a growth in the sector of US$93 billion by 2020.
US.- A recent study by Technavio predicts a moderate growth in the US casino gaming market in the next 4 years, resulting in revenues around US$93 billion. The firm’s lead market research analyst for media and entertainment, Faizan Akthar stated: “The tourism industry in the country has recovered since the end of the economic recession, growing at a CAGR of over 7 percent until 2015.”
He also explained that casinos in the United States have been implementing new methods to increase their customer base and they are looking abroad for expansion. Casinos collaboration with luxury hotels to widening the offer of entertainment options and the placement of slot machines at restaurants, bars and other attractions that are within reach of potential customers, are other measures that will benefit the industry. “The U.S. is one of the few countries that allow advertisements for casinos, thus encouraging local level marketing by casinos. This strategy has increased the number of tourists interested in gambling in the country,” Akthar added.
According to the report, the expansion of online gambling was a key factor in this growth, even though it has yet to be legalised in many parts of the country. The legalisation of online gambling in Nevada, New Jersey and Delaware has contributed to the popularity of online casinos in the rest of the United States.
“This [virtual online casino] segment grew by almost 212 percent in terms of revenue in 2015, indicating a trend that is set to make online gambling the future of the casino market in the U.S.,” Akthar explained. “Virtual online casinos provide more protection to user transactions than real casinos offer because they offer access after multiple verification procedures.”
