Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. The possibility of exponential growth in this segment is expected to gain further traction with many other states in the US considering legalization of online gambling in the next four years.
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Expansion of online gambling
Online gambling was not legal in the US until the states of Nevada, New Jersey, and Delaware legalized it in 2013. The US is one of the few countries that allow advertisements for casinos, thus encouraging local level marketing by casinos.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. This strategy has increased the number of tourists interested in gambling in the country, adds Faizan.
Immense contribution to national economy
The casino industry in the US helps the economy by providing substantial employment opportunities. This segment grew by almost 212% in terms of revenue in 2015, indicating a trend that is set to make online gambling the future of the casino market in the US. The state’s roadways are also well planned and connect the city to Southern California and Arizona. Casino Gaming Market in the US Predicted to Reach USD 93 Billion in Revenues by 2020, According to Technavio
Technavios latest market research report predicts the casino gaming market in the US to reach revenues worth USD 93 billion by 2020, posting a moderate growth rate over the next four years. This market research report also includes up to date analysis and forecast for various market segments and all geographical regions.
Advanced transportation infrastructure in the US
One of the primary factors influencing the growth of the casino market in the US is its transportation infrastructure.
Many casinos are adopting alternate methods to increase their customer base and expand their business in the US. Casinos are taxed at 25% whereas the tax for an average American citizen is 10%. This trend is encouraging the US government to legalize casinos across the country. Slot machines are often placed at restaurants, bars, and other attractions to reach out to potential customer, says Technavios lead market research analyst for media and entertainmentsector, Faizan Akthar.
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Some of the other driving forces behind the growth of the casino gaming market in the US are expansion of online gambling, immense contribution to national economy, and advanced transportation infrastructure in the US. Virtual online casinos provide more protection to user transactions than real casinos offer because they offer access after multiple verification procedures.
In this report, Technavio covers the present scenario and growth prospects of the casino gaming market in the USfor 2016-2020. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. The intercity transport system is also very efficient, and features monorails and bus and shuttle services which further conveniences travelers interested in gambling. Subscribing to Technavios reports allows you to download any three reports per month for the price of one. In 2015, the US casino market generated half a million jobs and more than USD13 billion in tax revenues. Contact email@example.com with your requirements and a link to our subscription platform.
Technavio is a leading global technology research and advisory company. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
The tourism industry in the country has recovered since the end of the economic recession, growing at a CAGR of over 7% until 2015. For instance, Las Vegas has an airport capacity of more than 20 million visitors annually. For example, casinos are collaborating with prominent luxury hotels to offer entertainment options. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users