U.S. Casino Market To Reach $93B By 2020: ReportGrowth Expected Over The Next Four Years |
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Casino gambling in the United States could be a $93 billion market by the year 2020, according to research from Technavio, a leading global technology research and advisory company.
Revenues from gaming in casinos are expected to see a “moderate growth rate” over the next four years, the research said. The estimate includes regulated online casino gambling, which could expand past Nevada, New Jersey and Delaware in the coming years.
“This 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.,” Technavio said in a press release. “The possibility of exponential growth in this segment is expected to gain further traction with many other states in the U.S. considering legalization of online gambling.”
In 2013, the U.S. casino market was worth $67 billion. That includes commercial casinos like the ones in Las Vegas and the tribal gaming industry, of which California has the largest. According to the American Gaming Association, U.S. casinos have an overall economic impact of $240 billion.
Both commercial and tribal casinos are winning more off of gamblers than ever before, even as Las Vegas, the epicenter of U.S. gambling, relies less and less on gaming win to drive its growth. Nevada gaming revenue during FY 2015 was $10.6 billion, or 43.2 percent of total revenue. According to research done by the University of Nevada Las Vegas, that’s a historic low. On the Strip, gaming win was just 34.9 percent of the total revenue of $16.74 billion, also an all-time low.
Over in the Northeast, nearly every state is undergoing casino gambling expansion in order to find more tax revenue. Even New Jersey is moving toward casinos outside of Atlantic City.
In 2014, land-based casinos across the globe won $146 billion from gamblers. The United States won the lion’s share of that figure, narrowly beating out the combined gaming win of Asian and Australian casinos, but that was before Macau’s huge casino downturn.
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