US casino market to hit $93bn by 2020

A report published by market research company Technavio has predicted that the US gaming market could see revenues rise as high as $93bn by 2020.

The study highlighted a number of reasons behind this growth, including increased tourism, economical benefits and market expansion.

Technavio’s leading market analyst Faizan Akthar believes that one factor behind the expected moderate growth is that casinos are integrating with luxury hotels to offer more entertainment choices as a way of attracting customers.

“The US is one of the few countries that allow advertisements for casinos, thus encouraging local level marketing by casinos.

“This strategy has increased the number of tourists interested in gambling in the country,” he added.

Another factor that supports growth is the increasing market for online gambling. Online gambling has provoked a mixed reaction in the US with many regulators opposed to the idea. Only a small number states such as New Jersey, Nevada and Delaware have chosen to legalise it to date, but if this situation changes outlooks for the industry could be significant.

In a press release, Technavio revealed that online gambling grew approximately 212% in revenue last year, and is expected to gain further growth in the coming years as many states consider following New Jersey and Nevada’s lead in legalising the practice further.

London-based Technavio employs circa 300 analysts globally who specialise in customised consulting and business research assignments across leading edge technologies. Analysts obtain information using a combination of bottom-up and top-down approaches, in addition to using in-house market modelling tools and proprietary databases.

Technavio is a leading market research company with global coverage. Our research and analysis focuses on emerging market trends to help businesses identify market opportunities and develop effective strategies to optimize their market positions. Read the full report here: http://www.technavio.com/report/usa-gaming-casino-gaming-market