The Global Casino Hotel Market was valued at US$ 191 billion in 2022, and it is predicted that it would rise at a CAGR of 4.8% to reach US$ 321.4 billion by 2033. The growing interest among tourists in these casino hotels may be related to the growth of the tourism industry.
The market for casino hotels is experiencing increased growth due to the hospitality industry’s double-digit expansion over the past ten years and increasing visitor demand for premium accommodations. Casino hotel establishments combine a full-service casino with a short-term housing option offered in an on-site hotel. Customers who stay at a casino hotel benefit from both housing and gaming options. The expansion of the gambling business, rising consumer disposable incomes, and an increase in tourism and travel are the primary factors driving the demand for casino hotels globally. The industry has expanded significantly in recent years, particularly in emerging markets like Asia-Pacific, which has emerged as a key hub for casino hotels.
It is anticipated that the worldwide casino hotel market would progressively improve over the next few years due to factors including the introduction of vaccinations, the relaxation of regulations, and the growing use of cutting-edge technology like virtual reality and artificial intelligence in the sector.
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The market is also anticipated to profit from the increasing acceptance of online gambling along with the ongoing growth of the gaming sector in emerging markets. Casino hotels are establishments that provide customers with both lodging and gambling options. These hotels frequently have a casino or gaming floor along with additional attractions including entertainment venues, restaurants, retail areas, bars, and recreational facilities. Slot machines, poker tables, and other gaming opportunities are frequently available at the hotel’s casino portion.
Key Takeaways from the Market Study
- Sales in the worldwide casino hotel industry increased significantly, achieving a CAGR of 3.1%.
- The casino hotel where poker was primarily played grew to have a sizeable market share of 45.8% in 2022.
- According to estimates, the North American area had 35% of the worldwide market share for casinos and hotels in 2022.
- The Asia Pacific region for casino hotels acquired a 29.85% of the worldwide market share in 2022.
“The demand for the service is being driven by the robust rise that the casino hotel sector saw and the associated expenditure that resulted from the increase in passengers in recent years,” remarks an FMI analyst.
Competitive Landscape
Major competitors are focusing on mergers and acquisitions in addition to new expansion tactics to maintain their place in the cutthroat casino hotel sector.
Prominent players in the casino hotel market are:
- 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
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Some key developments of the leading companies in this market are:
- The deal between MGM Resorts International and Blackstone to purchase The Cosmopolitan of Las Vegas’ operations for a purchase price in cash of US$ 1.625 billion was finalized in May 2022. The Cosmopolitan of Las Vegas now officially enters MGM Resorts’ collection of venerable names along the Las Vegas Strip with the transaction’s closure.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global casino hotel market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the casino hotel market, the market is segmented on the basis of by type, consumer orientation, age group and across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, and Middle East and Africa)
Key Segments Profiled in the Casino Hotel Market
By Type:
- Poker
- Blackjack
- Roulette
- Slots
- Others
By Consumer Orientation:
- Men
- Women
By Age Group:
- 18 to 35 Years
- 36 to 50 Years
- 50 Years and Above
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East and Africa
About the Travel and Tourism Division at Future Market Insights
The travel and tourism team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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