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Casino Gaming Market to Grow by USD 43.3 Billion (2024-2028) as Customer Spending Power Increases; AI-Driven Market Transformation Report – Technavio

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NEW YORK, Oct. 30, 2024 /PRNewswire/ — Report with the AI impact on market trends – The global casino gaming market size is estimated to grow by USD 43.3 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 3.2% during the forecast period. Growth in spending capability of customers is driving market growth, with a trend towards increasing use of social media marketing. However, difficulties in securing online payments poses a challenge.Key market players include Abbiati Casino Equipment S.r.l., ADP GAUSELMANN GMBH, AMATIC Industries GmbH, APEX pro gaming s.r.o, Aristocrat Leisure Ltd., Caesars Entertainment Inc., Eclipse Gaming Systems, Everi Holdings Inc., Incredible Technologies Inc., Interblock dd, International Game Technology plc, Jackpot Digital Inc., Konami Group Corp., Light and Wonder Inc., NOVOMATIC AG, PlayAGS Inc., Pockaj d.o.o., Rye Park LLC, TCSJOHNHUXLEY, and Universal Entertainment Corp..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Type (Land-based casino gaming and Online casino gaming), Product (Slot machines, Lottery ticket machines, Electronic roulette, Multiplayer game stations, and Gaming servers), and Geography (North America, APAC, Europe, South America, and Middle East and Africa)

Region Covered

North America, APAC, Europe, South America, and Middle East and Africa

Key companies profiled

Abbiati Casino Equipment S.r.l., ADP GAUSELMANN GMBH, AMATIC Industries GmbH, APEX pro gaming s.r.o, Aristocrat Leisure Ltd., Caesars Entertainment Inc., Eclipse Gaming Systems, Everi Holdings Inc., Incredible Technologies Inc., Interblock dd, International Game Technology plc, Jackpot Digital Inc., Konami Group Corp., Light and Wonder Inc., NOVOMATIC AG, PlayAGS Inc., Pockaj d.o.o., Rye Park LLC, TCSJOHNHUXLEY, and Universal Entertainment Corp.

Key Market Trends Fueling Growth

Casino operators, both online and offline, are utilizing social media marketing strategies to attract customers due to the widespread use of smartphones and improved Internet connectivity. Social media platforms like Facebook, Twitter, Pinterest, Instagram, and YouTube are popular among consumers, who spend an hour to 3-4 hours daily on these sites. Social media marketing offers fewer restrictions compared to traditional methods, making it an effective advertising and brand promotion tool for casinos. Vendors employ strategies such as showcasing winning stories, introducing offers, emphasizing the fun and easy aspect of casino gambling, and creating brand engagement. Social media marketing objectives include raising awareness, encouraging new users, and engaging with consumers. Despite limited restrictions for responsible gambling messages, this approach positively impacts the casino gaming market, increasing user engagement and market growth during the forecast period. 

The Casino Gaming Market is experiencing significant growth due to the legalization of casinos in emerging economies and the rising disposable income of consumers. This industry includes various offerings such as gaming machines like slot machines, video poker machines, and electronic gaming machines, as well as table games like poker, craps, and blackjack. Advanced technologies like virtual reality (VR) and augmented reality (AR) are trending, offering gaming experiences. Mobile gaming and portable equipment are popular, with online gambling platforms and cryptocurrencies gaining traction. Skill-based gaming, including poker, is attracting casual and avid gamblers alike. Stringent regulations and high initial investments pose challenges, but industry reports indicate continued growth. Land-based casinos and online casinos both thrive, with jurisdictions implementing various laws and regulations, including age restrictions. Direct sales of gaming equipment and touch screens with multi-line displays and progressive jackpots are common features. Internet penetration and smartphone usage drive the market, with regulatory challenges and licensing requirements ongoing. 

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Market Challenges

The global casino gaming market relies heavily on secure payment processing for credit and debit cards to maintain customer trust and confidence. Compliance with the Payment Card Industry Data Security Standard (PCI DSS) is essential for securing cardholder data and reducing financial fraud. However, the risk of financial fraud and hacked cards poses a significant challenge to the market’s growth. While some casino gaming companies can afford external digital security services, others may not have the budget for such investments. As a result, securing online payments remains a critical concern for the casino gaming industry, which could potentially hinder market expansion during the forecast period.The Casino Gaming Market faces several challenges in the current business landscape. Cryptocurrencies are gaining popularity among avid gamblers, requiring casinos to adapt and integrate this technology. Skill-based gaming is on the rise, making it essential for casinos to offer more of these types of games. Poker, Slot machines, and Video poker machines remain popular, but Casual gamblers and Dabblers prefer Digital table games and Mobile-compatible slot machines. Industry reports indicate that Internet penetration and Smartphones are driving the shift towards Online casinos. Regulatory challenges, including Licensing requirements, Jurisdictions, and Laws and regulations, pose significant hurdles. Age restrictions, Touch screens, and Multi-line displays are essential features for engaging Gambling enthusiasts and Lottery loyalists. Casinos must also contend with the rise of Virtual slot machines and Electronic games, as well as the increasing popularity of Cruise ships, Tourist attractions, and Social exuberant games like Craps, Lottery, Roulette, and Blackjack. Personal disposable income and Block chain technology are also crucial factors in the Casino gaming type. Regardless, the industry continues to evolve, offering an immersive gaming experience for all, from the Unengaged to the Social exuberant.

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Segment Overview 

This casino gaming market report extensively covers market segmentation by

Type 1.1 Land-based casino gaming1.2 Online casino gamingProduct 2.1 Slot machines2.2 Lottery ticket machines2.3 Electronic roulette2.4 Multiplayer game stations2.5 Gaming serversGeography 3.1 North America3.2 APAC3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 Land-based casino gaming- The land-based casino gaming market has long been a significant contributor to the global casino industry, providing entertainment through traditional games such as blackjack, roulette, poker, and craps. Land-based casinos remain popular destinations for tourists, offering an unparalleled atmosphere with neon lights, slot machine sounds, and social interaction. However, the industry faces competition from online gaming. While some land-based casinos have lost revenue due to this shift, they have responded by introducing new attractions, luxurious amenities, and expanding their properties to remain competitive. The land-based casino gaming segment is expected to experience moderate growth during the forecast period.

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Research Analysis

The Casino Gaming Market is experiencing significant growth due to the legalization of casinos in various regions and the rising disposable income of consumers. High-quality gaming equipment, including gaming machines like slot machines, video poker machines, and electronic gaming machines, are in high demand. Advanced technologies such as virtual reality (VR) and augmented reality (AR) are revolutionizing the industry, providing gaming experiences. Mobile gaming and online gambling platforms are also gaining popularity, with mobile-compatible slot machines and touch screens becoming standard. Cryptocurrencies are being adopted for transactions, adding convenience and security. Skill-based gaming, including poker, is attracting a new demographic. Industry reports indicate that emerging economies are driving growth, but stringent regulations and laws and regulations must be navigated. Internet penetration is expanding access to online casinos, while multi-line displays and progressive jackpots add excitement to land-based casinos. Overall, the casino gaming market is evolving rapidly, offering endless opportunities for innovation and growth.

Market Research Overview

The casino gaming market encompasses a wide range of offerings, including casinos, gaming machines such as slot machines, tables like poker, craps, roulette, and blackjack, and various forms of legalization. The market is driven by rising disposable income and the growing popularity of casinos as recreational activities in emerging economies. However, stringent regulations and high initial investment pose challenges. Advanced technologies like virtual reality (VR), augmented reality (AR), mobile gaming, and portable equipment are transforming the industry. Online gambling platforms, cryptocurrencies, and skill-based gaming are also gaining traction. Casinos come in various forms, including land-based and online, with slot machines, video poker machines, electronic gaming machines, and touch screens featuring multi-line displays and progressive jackpots. Casual gamblers and avid gamblers, dabblers and gambling enthusiasts, social exuberants and the unengaged, all find their place in this diverse market. Industry reports provide insights into trends, regulatory challenges, licensing requirements, jurisdictions, and laws and regulations, including age restrictions and mobile-compatible slot machines. Digital table games, lottery, and cruise ships are other significant areas of growth. Block chain technology is also being explored for its potential in enhancing security and transparency. Overall, the casino gaming market offers gaming experience for a global audience.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeLand-based Casino GamingOnline Casino GamingProductSlot MachinesLottery Ticket MachinesElectronic RouletteMultiplayer Game StationsGaming ServersGeographyNorth AmericaAPACEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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2025 Chinese economy: robust capacity in coping with pressure and risks

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BEIJING, Dec. 22, 2024 /PRNewswire/ — A news report from China.org.cn on China’s annual Central Economic Work Conference:

 

From China’s annual Central Economic Work Conference held last week, one can see clear targets and detect the continuity in the rationale behind the country’s economic roadmap for 2025. The tasks listed at the conference are in line with China’s development needs in the current phase, and can to a degree respond to the external risks.

Firstly, the meeting urged efforts to vigorously boost consumption, a top-of-agenda task. Expanding domestic demand is not only a long-term priority for China, but also a coping strategy for the tougher challenges faced in exports. China’s efforts to stimulate consumption mainly fall into two categories. For one, enabling its citizens to have more to spend, by means of increasing income and alleviating burdens of low- and middle-income groups, and enabling more to enter the middle-income bracket; meanwhile, China will continue to diversify consumption scenarios, such as the debut economy, ice and snow economy and silver economy, for consumers to spend their disposable income.

Secondly, China is determined to let scientific and technological innovation drive the building of a modern industrial system, serving as a compass for China’s industrial economy development. In 2025, China is going to invest more in technological innovation, and strengthen studies in basic sciences and key core technologies, to drive industrial innovation, and furthermore achieve high standards in sci-tech self-reliance and strength.

Thirdly, China will maintain its high-level opening-up, and keep foreign trade and foreign investment stable. The size, quality and good reputation of China’s business with the world have been ever-growing, and that’s because the goal of China is to “make the cake bigger,” not “steal others’ shares of cake,” let alone “seize the whole cake.” To that end, China has improved the quality of its exports, explored new investment models, and made more countries stakeholders along the global value chain; meanwhile, it has also been ameliorating its market-access policies, and bettering the treatment of foreign-invested companies, so that more countries can benefit from the Chinese market. By November, China has removed all market access restrictions for foreign investors in the manufacturing sector, and service sectors including telecommunication and medical care are also opening their doors wider at a stable pace.

China shows great willingness to open up to the world, and boasts a good many partners; at the same time, the country’s economy has a solid foundation with many advantages, strong resilience and great potential, which means it possesses robust capacity in coping with pressure and risks.

 

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SOURCE China.org.cn

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India-born Avaada Group Commits $12bn to Transform Rajasthan into a Global Renewable Energy Hub

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MUMBAI, India, Dec. 23, 2024 /PRNewswire/ — Avaada Group, a leading name in the renewable energy sector, has announced an unprecedented investment of $12bn in Rajasthan, India, for accelerating green energy transition, thereby establishing the region as a global renewable energy powerhouse. This landmark announcement was made during the prestigious Rising Rajasthan 2024 Summit, attended by India’s Hon’ble Prime Minister Narendra Modi and Rajasthan’s Hon’ble Chief Minister Bhajanlal Sharma.

Highlighting Rajasthan’s strategic importance, Avaada Group’s Chairman Vineet Mittal, Guest of Honour at the event, stated, “Rajasthan’s vast solar and wind resources, coupled with the visionary leadership of the Hon’ble Prime Minister and Chief Minister, present an unparalleled opportunity to redefine the global renewable energy landscape. Avaada’s commitment of $12bn while driving green industrial manufacturing will also create millions of jobs, shaping a sustainable and inclusive future.”

Rajasthan stands out as a global hub for renewable energy, with over 142 GW of unmatched solar potential, supported by 325+ sunny days annually. The state’s pro-business policies, including the Rajasthan Investment Promotion Scheme 2024 and the Integrated Clean Energy Policy 2024, have attracted investments worth $78bn.

Avaada Group’s journey in Rajasthan began with a modest 150 MW solar project and has since evolved into multiple ventures, including one of the world’s largest single location renewable energy projects by an IPP. Key investments announced at the summit include:

1,200 MW Pumped Storage Project (PSP): A $700mn initiative to enhance energy storage and grid stability.Green Hydrogen and Ammonia Projects: Investments aimed at driving global decarbonization goals.Utility-Scale Solar and Wind Projects: Across Jhalawar, Kota, Barmer, and Bikaner, contributing significantly to India’s renewable energy targets.

With its strategic alignment to international sustainability frameworks like the EU’s Carbon Border Adjustment Mechanism (CBAM), Rajasthan offers a unique advantage for zero-carbon manufacturing and green industrial growth, positioning itself as a magnet for industries seeking sustainable operations while creating over 1mn green jobs.

“As a global renewable energy leader, Avaada is proud to participate in Rajasthan’s vision of becoming a green hub of industrial growth,” Mr. Mittal remarked. “Our investments aim to double the region’s economy by 2030, aligned with global efforts to combat climate change.”

With its strategic initiatives, Avaada Group is poised to attract international collaborations, setting a benchmark for renewable energy innovation and sustainable industrial development.

About Avaada Group

Avaada Group is a leader in the global energy transition, specializing in solar module manufacturing, renewable power generation, and the development of green hydrogen, green methanol, green ammonia, and sustainable aviation fuel projects. Under the visionary leadership of Mr. Vineet Mittal, Avaada has become a significant global player in clean energy. Avaada Energy, the group’s renewable power generation arm, aims to achieve a capacity of 11 GWp by 2026. The group’s strong execution capabilities have attracted substantial international investment, including a $1.3bn commitment in early 2023, with $1bn from Brookfield’s Energy Transition Fund and $300mn from GPSC, a subsidiary of Thailand’s PTT Group.

Contact

Kiren Srivastav
kiren.srivastav@avaada.com

Charu Sehgal
charu.sehgal@avaada.com 

 

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The Shining Achievements of Busan MICE in 2024

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BUSAN, South Korea, Dec. 23, 2024 /PRNewswire/ — Amid intensifying competition among MICE host cities to attract large events, 2024 saw Busan take bold steps that led to impressive results, proving its potential as a prime MICE destination. The efforts made by Busan in 2024 in attracting major international conferences, promoting ESG management, enhancing networking, and strengthening city identity are outlined below.

International Conferences Held in the Global MICE City of Busan

Busan hosted several significant international conferences in 2024. In July, it welcomed the 45th Scientific Assembly of the Committee on Space Research (COSPAR 2024), drawing around 2,700 space scientists from 60 countries to Korea. This was the first time the event was held in the country. In August, after eight years of preparation, the city hosted the 37th International Geological Congress (IGC 2024), a prestigious event with a 146-year history, at BEXCO. In November, Busan hosted the 5th Session of the UN Intergovernmental Negotiating Committee on Plastic Pollution (INC-5). With participation from 193 institutions and countries, INC-5 was the final dialogue in a series of international discussions on controlling plastic pollution, making it a crucial conference on the future health of Earth’s marine environment and placing Busan at the forefront of global attention.

Wide-ranging ESG Activities for the Sustainability of MICE

Busan’s selection to host INC-5 was made possible by its strong track record of ESG initiatives within the MICE industry. The Busan Tourism Organization (BTO) CVB’s exhibition hall was decorated using recyclable wood, and with the assistance of eco-friendly suppliers, recycling stations were set up to facilitate the collection of waste generated during the event. Aiming for a paperless conference, digital materials and multifunctional electronic platforms were also used. Continuous efforts in various ESG initiatives were made through collaborations with Busan MICE Alliance (BMA) members. Environmental reports were made, containing carbon reduction amounts for all products used at event venues and greenhouse gas reduction indicators for transportation during each event, to create more eco-friendly events.

Improvement of Busan’s MICE Network Through Communication

The Busan MICE Alliance and the Busan MICE industry, in general, grew in solidarity through strong networking this year. The BTO CVB worked to fundamentally enhance Busan’s MICE industry by increasing local demand for MICE events and maintaining an efficient collaboration network. Regular meetings of the BMA focused on the concerns of its members to improve communication. Additionally, Busan MICE Alliance Day was held to strengthen ties among members of Busan’s MICE industry, fostering discussions on industry developments both locally and internationally, and exploring joint marketing opportunities. New members were recruited into the BMA in both the first and second halves of the year, enhancing collaboration between the public and private sectors for the success of Busan’s MICE industry. The Busan MICE Business Innovation Platform, which provides users with access to news and information about Busan’s MICE industry, was launched and well-received.

Unique Venues That Capture Busan’s Local Identity

Participants in MICE events now expect more than just the exchange of knowledge. They seek a special experience, and MICE destinations should leverage their local identity to provide experiences that can only be found in their cities or regions. Recognizing this industry trend, Busan has identified a variety of unique venues that highlight the history, culture, and distinctiveness of the city. Venues such as Domoheon, the former residence of Busan’s mayor; Space OneZ, a renovated old warehouse; and Holi Lounge, offering a surfing workation, exemplify this approach. The MICE events held at these unique venues are also organized in a way that showcases the best of Busan’s local identity.

As another busy year draws to a close, Busan, as a MICE city, is looking forward to making even greater strides next year. The 18th World Congress on Computational Mechanics (WCCM) in 2028, along with many other international MICE events, are set to take place in Busan, and the BTO CVB is actively working toward this goal.

With aspirations of reaching the pinnacle of the MICE industry, Busan will continue its efforts to be a sustainable, cooperative, and unique MICE city that is globally recognized.

 

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SOURCE Busan Tourism Organization

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