Global Casino Hotel Market Overview
Casino Hotel Market Size was estimated at 144.85 (USD Billion) in 2022. The Casino Hotel Market Industry is expected to grow from 153.49(USD Billion) in 2023 to 258.3 (USD Billion) by 2032. The Casino Hotel Market CAGR (growth rate) is expected to be around 5.96% during the forecast period (2024 - 2032).
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Key Casino Hotel Market Trends Highlighted
Emerging trends and opportunities are the current development of the Casino Hotel Market. Growth in the popularity of legalized gambling, growing disposable income and online gaming are among the major market drivers. This has resulted in a high demand for casino hotels which provide a distinctive luxury experience.
The building of integrated casino resorts with a full array of amenities such as entertainment, dining, shopping and others presents an opportunity to explore further. Casino hotels can also target high-end customers by taking advantage of the growth in the luxury travel segment. Another factor that may facilitate new innovations within the casino hotel sector is the increased use of virtual reality technologies as well as mobile gaming.
In this industry, there has been a trend towards cashless gambling, personalizing experiences with Artificial intelligence (AI) and expanding into new markets. Moving forward, there is an expectation that casino hotels shall offer immersive services to personalize customer engagement through a focus on entertainment and lavishness.
Casino Hotel Market Drivers
Rising Popularity of Gaming and Entertainment
The increasing popularity of gambling and entertainment are the main factors contributing to the growth of the casino hotel market. Over the past couple of years, there has been a rise in the number of people visiting casino hotels, thereby leading to an increased demand for games like slot machines, table games and poker. Furthermore, it is also propelled by the growth in the gaming industry as well as the expansion of existing gaming facilities across various regions. Additionally, such types of establishments have been in demand for other categories of amusement, including live shows, concerts and whatnot; thus, casinos have become a one-stop place for all their clientele needs to mature accordingly.
Expansion of Hospitality Sector
The market for casino hotels has experienced remarkable growth due to the rise in the hospitality sector. There is a growing number of tourists and visitors worldwide, resulting in increased demand for accommodation and related services. Casino hotels merge gaming with hospitality. The world’s strengthened hospitality sector has allowed new casino hotels to be developed. Other than building new ones, existing casino hotels are being refurbished and enlarged due to the growth of the hospitality industry on a scale.
Legalization of Gambling in New Jurisdictions
It is the legalization process in new jurisdictions that has driven growth for the casino hotel market globally. Over the past few years, many countries and states have legalized gambling, thereby creating new prospects for building up more hotels. In addition to this, there has been a rise in the number of investors in the market as a result of legalization while opening up an investment space for different stakeholders. Growth projections show that with the further spread of gambling laws into virgin territories, the casino hotels market is likely to grow beyond anticipation during the next decade.
Casino Hotel Market Segment Insights
Casino Hotel Market Type Insights
The Casino Hotel Market segmentation by Type includes Land-based and online. The segment of casinos located on land was characterized by the greatest share of sales amounting to approximately 80% in the Casino Hotels Market in 2023, which made it the biggest one among others. It will also remain to be a leading category within the studied period. The traditional character of terrestrial casinos constitutes one of the major catalysts for their growth within this segment. These casinos offer various games and gambling opportunities, elegant, comfortable rooms as well as a variety of other entertainments that allow players and tourists alike to partake in new experiences.
It is predicted that there will be substantial growth in the Online area as well, mainly due to increasing Internet coverage, advancements in mobile technology and online betting trends. By around 2032, towards the end of the forecast period, Revenue Share estimates suggest that the online sector would top all other key segments.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Casino Hotel Market Gaming Offerings Insights
The Gaming Offerings segment is one of the major contributors to the Casino Hotel Market, with several sub-segments affecting its growth rates. In 2023, slots were the most popular option among casino players and will likely remain to be the leader in the coming years. The growth is driven by the rising popularity of both online and mobile slots, as well as the development of new themes and features. The second largest sub-segment is Table Games, such as blackjack, roulette, and baccarat. They held 35.7 percent of the market share in 2023 due to the fact that the games are strategically placed in casinos’ most walkable locations and are supervised by experienced dealers.With the legalization of sports betting in several regions, the Sports Betting sub-segment has become one of the most rapidly growing segments. The slower-growing and less popular Other Casino Games sub-segment includes video poker, bingo, and keno. These games are produced for targeted markets and allow the casino hotels to use additional offerings to increase their revenues from players. The segment’s growth is further amplified by the permanent change and development of the character of gaming offerings, determined by technological advances and their influences on the gambling industry and the resulting changes in players’ attitudes towards gaming.
Casino Hotel Market Target Audience Insights
The target audience for casino hotels is diverse, encompassing various segments with distinct needs and preferences. Leisure travelers seeking entertainment and relaxation constitute a significant portion of the market. In 2023, this segment accounted for approximately 45% of the Casino Hotel Market revenue, estimated at USD 153.49 billion. Business travelers attending conferences or corporate events also contribute to the demand, representing around 22% of the market share. High-rollers, characterized by their high spending and exclusive gaming preferences, form a niche but lucrative segment, contributing approximately 17%.Families seeking entertainment and amenities catering to all ages represent around 16% of the market. Understanding these target audience segments and their specific requirements is crucial for casino hotels to tailor their offerings and drive market growth.
Casino Hotel Market Hotel Amenities Insights
The Hotel Amenities segment of the Casino Hotel Market is projected to grow at a CAGR of 4.5% during the forecast period 2024-2032. The segment is expected to generate revenue of USD 20.3 billion in 2024 and is anticipated to reach USD 29.1 billion by 2032. The growth of the segment is primarily attributed to the increasing demand for luxury and comfort by casino hotel guests. Luxury Rooms: The demand for luxury rooms in casino hotels is growing due to the increasing number of high-end travelers. These rooms are typically equipped with amenities such as king-sized beds, flat-screen TVs, and marble bathrooms.Entertainment Options: Casino hotels are increasingly offering a variety of entertainment options to attract guests. These options include live music, comedy shows, and gaming tournaments. The growth of the entertainment segment is expected to be driven by the increasing popularity of casino gaming. Dining: The dining segment of the casino hotel market is expected to grow at a CAGR of 3.8% during the forecast period. The segment is expected to generate revenue of USD 12.4 billion in 2024 and is anticipated to reach USD 17.8 billion by 2032. The growth of the segment is primarily attributed to the increasing demand for fine dining experiences by casino hotel guests.Spa and Wellness: The spa and wellness segment of the casino hotel market is expected to grow at a CAGR of 4.2% during the forecast period. The segment is expected to generate revenue of USD 7.9 billion in 2024 and is anticipated to reach USD 11.3 billion by 2032. The growth of the segment is primarily attributed to the increasing demand for relaxation and rejuvenation by casino hotel guests.
Casino Hotel Market Ownership Insights
The Casino Hotel Market is segmented by ownership into independent, corporate, and tribal. In 2023, the corporate segment held the largest market share of 45%, followed by the tribal segment with 30% and the independent segment with 25%. The corporate segment is expected to continue to dominate the market in the coming years, driven by the increasing presence of large casino operators such as Caesars Entertainment, MGM Resorts International, and Wynn Resorts. The tribal segment is also expected to grow steadily, supported by the expansion of tribal gaming in the United States.The independent segment is expected to remain relatively small but is likely to benefit from the growing popularity of boutique casinos.
Casino Hotel Market Regional Insights
The regional segment of the Casino Hotel Market is expected to exhibit significant growth in the coming years. In 2023, North America held the largest market share, accounting for around 40% of the revenue. The region is home to some of the world's most renowned casino hotels, including those in Las Vegas and Atlantic City. Europe is another major region for the casino hotel market, with a market share of around 30%. The region is home to a number of popular casino destinations, such as London, Paris, and Macau. The APAC region is expected to experience the fastest growth in the coming years, with a CAGR of around 6%.The region is home to a number of emerging casino markets, such as China, India, and Japan. South America and MEA are also expected to experience growth in the coming years, although at a slower pace than APAC.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Casino Hotel Market Key Players And Competitive Insights
Major players in the Casino Hotel Market industry persistently strive to gain an edge over their competitors through strategic alliances, acquisitions, and innovative product launches. Leading Casino Hotel Market players actively engage in mergers and acquisitions to expand their presence and diversify their offerings. The Casino Hotel Market development landscape is characterized by ongoing collaborations between industry participants to capitalize on emerging trends and meet evolving customer demands. Key players focus on enhancing their service portfolios through partnerships with technology providers, entertainment companies, and hospitality groups. The competitive landscape remains dynamic, with smaller players leveraging niche offerings and regional expertise to compete with larger established players.A leading company in the Casino Hotel Market, MGM Resorts International stands out for its diverse portfolio of luxury casino resorts spread across multiple geographical locations. The company's strong brand recognition, extensive customer loyalty programs, and commitment to providing exceptional gaming and entertainment experiences have contributed to its position as a leader in the industry. MGM Resorts International continuously invests in property expansions, renovations, and amenity upgrades to maintain its competitive edge and cater to the evolving preferences of its discerning clientele. The company's commitment to responsible gaming and its focus on sustainability further enhance its reputation as a respected player in the Casino Hotel Market.Another prominent competitor in the Casino Hotel Market, Las Vegas Sands, has solidified its position through the development of iconic integrated resorts in prime gaming destinations such as Las Vegas, Macau, and Singapore. The company's commitment to innovation and technological advancements has led to the creation of immersive gaming experiences, cutting-edge entertainment venues, and luxurious accommodations. Las Vegas Sands' dedication to providing an unparalleled guest experience, along with its strategic partnerships with leading entertainment providers, solidifies its position as a formidable competitor in the Casino Hotel Market.
Key Companies in the Casino Hotel Market Include
- Hard Rock International
- Penn National Gaming
- Churchill Downs Incorporated
- Eldorado Resorts
- Seminole Hard Rock Entertainment
- Las Vegas Sands
- MGM Resorts International
- Rush Street Gaming
- Parx Casino
- Bally's Corporation
- Boyd Gaming
- Wynn Resorts
- Caesars Entertainment
- Station Casinos
- Golden Nugget Casinos
Casino Hotel Market Industry Developments
The Venetian Resort Las Vegas is undergoing a $1.2 billion renovation, which is expected to be completed in 2024. The renovation includes the addition of a new luxury hotel tower, a new casino, and a new convention center.Caesars Entertainment is planning to build a new casino resort in Las Vegas, which is expected to open in 2026. The resort will include a 600-room hotel, a casino, and a variety of restaurants and bars.MGM Resorts International is developing a new casino resort in Japan, which is expected to open in 2025. The resort will include a 3,000-room hotel, a casino, and a variety of restaurants and bars.These developments indicate that the casino hotel market is expected to continue to grow in the coming years. As new resorts are built and existing resorts are renovated, the market is expected to benefit from increased demand for luxury accommodations, gaming, and entertainment.
Casino Hotel Market Segmentation Insights
Casino Hotel Market Type Outlook
Casino Hotel Market Gaming Offerings Outlook
- Slots
- Table Games
- Sports Betting
- Other Casino Games
Casino Hotel Market Target Audience Outlook
- Leisure Travelers
- Business Travelers
- High-rollers
- Families
Casino Hotel Market Hotel Amenities Outlook
- Luxury Rooms
- Entertainment Options
- Dining
- Spa and Wellness
Casino Hotel Market Ownership Outlook
- Independent
- Corporate
- Tribal
Casino Hotel Market Regional Outlook
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North America
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Europe
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South America
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Asia Pacific
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Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
144.85(USD Billion) |
| Market Size 2023 |
153.49(USD Billion) |
| Market Size 2032 |
258.3(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
5.96% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Hard Rock International, Penn National Gaming, Churchill Downs Incorporated, Eldorado Resorts, Seminole Hard Rock Entertainment, Las Vegas Sands, MGM Resorts International, Rush Street Gaming, Parx Casino, Bally's Corporation, Boyd Gaming, Wynn Resorts, Caesars Entertainment, Station Casinos, Golden Nugget Casinos |
| Segments Covered |
Type, Gaming Offerings, Target Audience, Hotel Amenities, Ownership, Regional |
| Key Market Opportunities |
Increased disposable income Growing tourism industry Emergence of new casino gaming technologies Relaxation of gambling regulations Expansion into new markets |
| Key Market Dynamics |
Rising demand for luxury travel Increasing disposable income in emerging markets Expansion of gaming and entertainment offerings Emergence of smart technologies Focus on sustainability |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Casino Hotel market size was valued at USD 153.49 billion in 2023 and is expected to grow to USD 258.3 billion by 2032, exhibiting a CAGR of 5.96% during the forecast period.
North America is expected to dominate the Casino Hotel market in the coming years, owing to the presence of a large number of casinos and hotels in the region. The region is also home to some of the world's largest and most well-known casinos, such as the Bellagio and the Venetian in Las Vegas.
The growth of the Casino Hotel market is primarily driven by the increasing popularity of casino gambling and the rising disposable income of consumers. Additionally, the expansion of the tourism industry is also contributing to the growth of the market.
Casino Hotels are primarily used for gambling and entertainment. However, they also offer a range of other amenities, such as restaurants, bars, nightclubs, and spas. Some Casino Hotels also offer convention and meeting facilities.
The key competitors in the Casino Hotel market include Wynn Resorts, Las Vegas Sands, MGM Resorts International, Caesars Entertainment, and Boyd Gaming Corporation.
The Casino Hotel market faces a number of challenges, including the increasing competition from online gambling, the rising cost of labor, and the regulatory restrictions on gambling in some countries.
The Casino Hotel market offers a number of opportunities for growth, including the expansion of the tourism industry, the development of new casino games, and the legalization of gambling in new countries.
Key trends in the Casino Hotel market include the increasing use of technology, the growing popularity of non-gaming amenities, and the expansion of the market into new regions.
The future outlook for the Casino Hotel market is positive. The market is expected to continue to grow in the coming years, driven by the increasing popularity of casino gambling and the rising disposable income of consumers.
Key recommendations for businesses operating in the Casino Hotel market include investing in technology, developing new casino games, and expanding into new regions. Businesses should also focus on providing excellent customer service and creating a memorable experience for guests.
