Casino Hotels Market Size
| 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 Market Trends
Increase In Large Integrated Casino Resort
Integrated casino resort are part of resort property which consist of hotel with a casino and facilities for entertainment shows. Post Covid with a continuously rising and emerging hotel and resort industry, Large integrated casino resorts are observing a continuous rise in number. Most of the large integrated casino resorts have their locations based in urban centers existing with a large number of travelers and people having an interest in sports gambling and casinos. The United States, Romania, the Czech Republic, the United Kingdom, and Canada are among the countries with the highest number of casinos leading to an increase in the number of large Integrated Casino Resorts. These trends are resulting in the Large Integrated casino resorts dominating the casino hotel market by type
North America Region Dominated the Market
The North American casino hotel market was one of the largest in the world, with several major casino destinations spread across the region. The United States is the largest market for casino hotels in North America, with cities like Las Vegas, Atlantic City, and Reno known for their large-scale casino resorts. In addition, Canada also has a significant casino hotel industry, with destinations like Niagara Falls and Montreal attracting many visitors. The region's casino hotel market has been investing in new amenities and experiences to differentiate itself and attract a broader range of customers. This has included the addition of high-end restaurants, shopping, and entertainment options, as well as the creation of more family-friendly environments.
The growth of online gambling and shifting consumer preferences have both had an impact on the North American casino hotel market in recent years. As a result, many casino hotels have been investing in new amenities and experiences to differentiate themselves and attract a broader range of customers. For example, some properties have added high-end restaurants, shopping, and entertainment options to their offerings, while others have focused on creating more family-friendly environments. Overall, the North American casino hotel market is expected to continue to be an important player in the global casino hotel industry, offering a wide range of options for visitors seeking gaming, entertainment, and hospitality experiences.
Casino Hotels Industry Overview
The global casino hotels market is a consolidated market dominated by a few major players. The top players in the market include Las Vegas Sands Corporation, MGM Resorts International, Caesars Entertainment Corporation, Galaxy Entertainment Group, and Wynn Resorts Limited. These companies hold a significant market share and have a strong presence in key regions such as the United States, Macau, and Singapore.
Casino Hotels Market Leaders
-
Las Vegas Sands Corporation
-
MGM Resorts International
-
Caesars Entertainment Corporation
-
Galaxy Entertainment Group
-
Wynn Resorts Limited
*Disclaimer: Major Players sorted in no particular order
Casino Hotels Market News
- February 2023: Caesars Entertainment ("Caesars") and SL Green Realty Corp ("SL Green") announced a new Caesars Rewards partnership for local merchants in greater New York City as a part of their pursuit of a gaming license in Times Square. When Caesars Palace Times Square opens in Manhattan, Caesars Rewards members will be able to use their Reward Credits by converting them to gift cards, valid across the Caesars Rewards Gift Card Network, including participating hotels, restaurants, retailers, comedy clubs, entertainment venues and more across New York.
- May 2022: MGM Resorts International closed its transaction with Blackstone to acquire the operations of The Cosmopolitan of Las Vegas (the "property" or "The Cosmopolitan") for a cash consideration of USD 1.625 billion. With the closing of the transaction, The Cosmopolitan of Las Vegas officially joins MGM Resorts' roster of iconic brands along the Las Vegas Strip.
Casino Hotels Market Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Industry Value Chain Analysis
4.5 Industry Attractiveness - Porter's Five Forces Analysis
4.5.1 Bargaining Power of Buyers
4.5.2 Bargaining Power of Suppliers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitutes
4.5.5 Intensity of Competitive Rivalry
4.6 Insights of Technology Innovations in the Market
4.7 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Small and medium-sized casinos
5.1.2 Large integrated casino resorts
5.1.3 Cruise ships
5.2 By Application
5.2.1 Leisure
5.2.2 Business
5.2.3 Other Applications
5.3 By Geography
5.3.1 North America
5.3.2 Europe
5.3.3 Asia-Pacific
5.3.4 Latin America
5.3.5 Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Las Vegas Sands Corporation
6.2.2 MGM Resorts International
6.2.3 Caesars Entertainment Corporation
6.2.4 Galaxy Entertainment Group
6.2.5 Wynn Resorts Limited
6.2.6 Grand Lisboa Macau
6.2.7 Bellagio
6.2.8 Venetian Resort Hotel Casino
6.2.9 CasaBlanca
6.2.10 Marina Hotel*
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
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 Market Research 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.
Which is the fastest growing region in Casino Hotels Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Casino Hotels Market?
In 2024, the North America accounts for the largest market share in Casino Hotels Market.
What years does this Casino Hotels Market cover?
The report covers the Casino Hotels Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Casino Hotels Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Casino Hotels Industry Report
Statistics for the 2024 Casino Hotels market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Casino Hotels analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
