Gambling
Companies in this industry operate gambling facilities or offer gaming activities, while some companies also operate hotel facilities. Major companies include US-based casino operators Las Vegas Sands, MGM Resorts, and Wynn Resorts, as well as Galaxy Entertainment Group (Hong Kong), IGT (UK), SJM Holdings (Hong Kong), Tabcorp (Australia), and William Hill (UK).
The global market projection for gambling was expected to reach about $912 billion by 2027, according to Report Linker. Major casino gaming markets outside the US include Australia, Japan, Italy, and the UK according to Yahoo Finance. Revenue is expected to grow steadily as casinos continue to expand in new markets, specifically in Asia.
The US gambling industry has more than 3,000 establishments with overall revenues of $25 billion.
Competitive Landscape
Demand for gambling is driven by consumer income growth and state spending. The profitability of individual companies depends on efficient operations and effective marketing. Large operators have the financial resources to make significant investments in facilities and efficient computer operations; they may also enjoy cross-marketing opportunities. Small gambling facilities can thrive by catering to local residents, who may not be able to afford travel to such gambling centers as Las Vegas or Atlantic City.
The US gambling industry is concentrated: the top 50 companies account for about 60% of revenue. The casino hotel segment is highly concentrated: the top 50 companies account for about 80% of revenue.
Products, Operations & Technology
Gaming operators mainly provide a place or a means to play games of chance, where the odds of winning favor the "house." Popular casino games are slot
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