The United States is soon going to witness a giant profit through its casino market. Technavio, the very popular market research firm has revealed that the casino industry of the nation will witness a moderate growth rate in the coming years. It will be no surprise if the growth will reach up to $93 billion by the year 2020.
In the Words of Faizan Akhtar
Technavio’s lead market research analyst for media and entertainment, Faizan Akhtar recently gave a statement that after the economic recession got over, the tourism industry of the nation has shown a great growth. To be precise, the tourism industry has grown at a CAGR of more than 7% until the year 2015. Akhtar has also added that the casinos in the US are now hunting out more opportunities to increase their profit by expanding themselves beyond the nation. These casinos are making efforts to increase their customer base by collaborating with the most luxurious hotels.
They believe that by offering an entertainment source in these big hotels, they will be able to improve their profit margin. These casinos are planning to place their slot machines at the restaurants and the bars of these hotels to attract more customers. The analyst has further added that the nation also allows for the open promotion or advertisement of these casinos, which again becomes the great source of profit for them. Through advertisements, more and more people get captivated by these casinos and enter into the same.
Highlights of the Study
The study has also declared that the growth of casino industry has been possible only through three major factors including advanced transportation structure in the nation, expansion of online gambling and improving health of national economy. These three driving forces are together going to result in the great profits for the nation. After such a positive move, the fact still remains the same that online gambling is still considered illegal in many parts of the US. These cities or parts are yet to legalize casino gaming. Some of these parts precisely include Delaware, Nevada and New Jersey just to point out a few of various others. Irrespective of this case, the popularity and increasing fan base of online gambling in the states of the nation has further promoted online casinos in the nation.
The Bottom Line
Faizan Akhtar has also remarked that the segment of virtual online casino has shown a growth by almost up to 212 percent. This growth is shown in the terms of revenue in 2015, which hints at the fact that this trend will turn into the strong future of the nation. Without a doubt, online gambling will take over as the future of the entire casino market of the nation. Not just this, the analyst makes it clear that online casinos provide much better protection when it comes to user transactions as compared with real casinos in the nation. Thus, it is sure that the business of online gambling will increase and spread beyond the nation in the coming years.