Global casinos market to reach us$ 113 billion by 2017

The global economic crisis had a severe impact on the land-based casino industry as the credit markets considerably tightened and consumer discretionary spending plunged amidst high unemployment rate and low consumer confidence.

The casino gaming sector witnessed delays and postponements in expansion projects as well as new gaming ventures during the recession, displaying the gaming industry’s high sensitivity to economic downturns. Though the market is currently exhibiting signs of revival in certain countries, the challenges set by a wavering US recovery and the Eurozone debt crisis continues to undermine the overall growth in global casinos market. Market progress over the near term is expected to remain slow and would take some time before it achieves the previous highs recorded during the pre-crisis years.

The industry continues to experience competition from the rapidly expanding online gambling and an increasing level of public endorsement. Recent trends suggest that major global gambling companies are looking to move large sections of their business online but are however faced with a strict regulatory environment.

As stated by the new market research report on casinos, the US comprises the largest regional market. The nation continues to deal with intense inter-state competition as well as overseas competition. The impact of economic downturn varied across state, with casinos market in Nevada being the largest hit due to significant drop in foreign visitors. In future, besides the resurgence in economy, the US casinos market is expected to gain from increase in number of foreign visitors and the legalization of casino gambling in the state of Massachusetts. Among the regional markets worldwide, Asia-Pacific is expected to post the highest revenues growth over the analysis period. Various factors continue to shape the bright outlook for casino gaming in Asia-Pacific.

The rising economy in the region continues to drive the growth of a thriving middle class and inflate the disposable incomes of consumers, extending the casino gaming sector with a potential opportunity to prosper. Further, the deep attachment of people in the region to various gambling formats including casino gaming is another key growth factor. In addition, the launch of new casinos with lucrative and enticing features in various traditional casino gaming centers such as Macau as well as new locations would have a positive impact in drawing more number of visitors.

Major players profiled in the report include Ameristar Casinos, Boyd Gaming Corporation, Century Casinos, Caesars Entertainment, Isle of Capri Casino, Ladbrokes, MGM Resorts International, Station Casinos, Sun International and Wynn Resorts.

The research report titled "Casinos: A Global Strategic Business Report" announced by Global Industry Analysts, provides a comprehensive review of trends, issues, strategic industry activities, and profiles of major companies worldwide. The report provides market estimates and projections (us$ million) for global and regional markets including US, Canada, Europe (France, Germany, Italy, UK, Spain and Rest of Europe), Asia-Pacific (Macau, Australia and Rest of Asia-Pacific), Latin America and Rest of World.