The casino segment covers all gambling activities carried out within casino establishments, such as card games, roulette, and slot machines located in casinos; tips and admission fees are included, but additional revenues such as sales of food, drink, and accommodation are excluded.
The market size of the casino sector globally reached a value of $131 billion in 2021. The casino market globally grew by 19% in 2021 as the sector witnessed a recovery in the demand after easing the restrictions which were placed on account of the Outbreak pandemic COVID-19.
Earlier in the year 2020, The COVID-19 outbreak impacted the sector greatly. Casinos were forced to shut their business for most of the year due to the ongoing coronavirus restrictions and lockdowns. During the year 2020, the market value of casinos globally saw a de-growth of 24%.
Many games provided by the casino require attendants to be close to each other or be played between groups of people. Thus, when casinos were open, they needed to adjust their games and follow the government’s coronavirus safety measures, decreasing demand for the sector in general.
The compound annual growth rate for the casino market during the period 2017-2021 remained stable. This was primarily on account of the significant fall in market value witnessed in 2020 due to the pandemic and the recovery seen in 2021 after the lockdown easing was able to offset the impact of the decline seen last year.
The major companies that have a strong presence in the casino global market include Las Vegas Sands Corp, Galaxy Entertainment Group Ltd, MGM Resorts International, and Caesars Entertainment Corporation.
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