Market Size of Casino Hotels Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR (2024 - 2029) | 4.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Casino Hotels Market Analysis
The Casino Hotels Market is expected to register a CAGR of 4% during the forecast period(2024-2029).
The outbreak of the COVID-19 pandemic had a significant impact on the global casino hotel market, as well as on the broader hospitality and tourism industries. The pandemic caused widespread closures of casino hotels, imposed travel restrictions, and reduced consumer confidence, resulting in a significant decline in revenue and occupancy rates for many businesses. Due to the pandemic's impact, the global casino hotel market witnessed a decline in revenue in 2020, with many casinos and hotels reporting losses. The global revenue of the casino industry decreased by 31% in 2020 compared to the previous year. The pandemic also affected the growth rate of the casino hotel market, with a significant slowdown in growth during the pandemic years.
The main things that drive the global casino hotels market are the rise in tourism and travel, the rise in consumers' disposable incomes, and the growth of the gaming industry. In the past few years, the market has grown a lot, especially in developing economies like Asia-Pacific, which has become a major center for casino hotels. Despite the challenges, the global casino hotel market is expected to recover gradually in the coming years, driven by factors such as the rollout of vaccines, the easing of restrictions, and the increasing adoption of innovative technologies such as AI and VR in the industry. Additionally, the market is expected to benefit from the growing popularity of online gambling and the continued expansion of the gaming industry in emerging markets.
Casino Hotels Industry Segmentation
Casino hotels are properties that offer both accommodation and gaming facilities to guests. These hotels typically feature a casino or gaming floor along with other amenities such as restaurants, bars, shopping areas, entertainment venues, and recreational facilities. The casino section of the hotel typically offers a variety of games, including slot machines, table games, and other gaming options.
The Casino Hotels Market Is Segmented By Type (Small And Medium-Sized Casinos, Large Integrated Casino Resorts, And Cruise Ships), By Application (Leisure, Business, And Others), And By Geography (North America, Europe, Asia Pacific, Latin America, And The Middle East And Africa). The Market Size And Forecasts Are Provided In Terms Of Value (USD) For All The Above Segments.
| By Type | |
| Small and medium-sized casinos | |
| Large integrated casino resorts | |
| Cruise ships |
| By Application | |
| Leisure | |
| Business | |
| Other Applications |
| By Geography | |
| North America | |
| Europe | |
| Asia-Pacific | |
| Latin America | |
| Middle East and Africa |
Casino Hotels Market Size Summary
The global casino hotels market is poised for gradual recovery and growth, driven by increasing tourism, rising disposable incomes, and the expanding gaming industry. The market experienced a significant downturn due to the COVID-19 pandemic, which led to widespread closures and reduced consumer confidence, impacting revenue and occupancy rates. However, the market is expected to rebound as travel restrictions ease and vaccination rollouts continue. The integration of innovative technologies like AI and VR, along with the growing popularity of online gambling, is anticipated to further bolster the market. Developing regions, particularly in Asia-Pacific, have emerged as key growth areas, with integrated casino resorts gaining prominence in urban centers.
In North America, the casino hotel market remains a significant player globally, with the United States leading in major casino destinations such as Las Vegas and Atlantic City. The region is witnessing investments in new amenities and experiences to attract a diverse customer base, including high-end dining and family-friendly environments. The market is dominated by major players like Las Vegas Sands Corporation, MGM Resorts International, and Caesars Entertainment Corporation, who hold substantial market shares in regions like the United States, Macau, and Singapore. Recent developments, such as Caesars Entertainment's partnership with SL Green Realty Corp and MGM Resorts' acquisition of The Cosmopolitan of Las Vegas, highlight the ongoing strategic expansions and collaborations within the industry.
Casino Hotels Market Market Size - Table of Contents
-
1. MARKET DYNAMICS AND INSIGHTS
-
1.1 Market Overview
-
1.2 Market Drivers
-
1.3 Market Restraints
-
1.4 Industry Value Chain Analysis
-
1.5 Industry Attractiveness - Porter's Five Forces Analysis
-
1.5.1 Bargaining Power of Buyers
-
1.5.2 Bargaining Power of Suppliers
-
1.5.3 Threat of New Entrants
-
1.5.4 Threat of Substitutes
-
1.5.5 Intensity of Competitive Rivalry
-
-
1.6 Insights of Technology Innovations in the Market
-
1.7 Impact of COVID-19 on the Market
-
-
2. MARKET SEGMENTATION
-
2.1 By Type
-
2.1.1 Small and medium-sized casinos
-
2.1.2 Large integrated casino resorts
-
2.1.3 Cruise ships
-
-
2.2 By Application
-
2.2.1 Leisure
-
2.2.2 Business
-
2.2.3 Other Applications
-
-
2.3 By Geography
-
2.3.1 North America
-
2.3.2 Europe
-
2.3.3 Asia-Pacific
-
2.3.4 Latin America
-
2.3.5 Middle East and Africa
-
-
Casino Hotels Market Market Size FAQs
What is the current Casino Hotels Market size?
The Casino Hotels Market is projected to register a CAGR of 4% during the forecast period (2024-2029)
Who are the key players in Casino Hotels Market?
Las Vegas Sands Corporation, MGM Resorts International, Caesars Entertainment Corporation, Galaxy Entertainment Group and Wynn Resorts Limited are the major companies operating in the Casino Hotels Market.
