The global casino gaming equipment market’s compound annual growth rate (CAGR) is expected to rise by as much 15.25% from 2017 to 2021.
In its latest report, Technavio predicted a steady rise in the global casino gaming equipment due to the easing of government regulations related to casino markets. It cited the recent development in Japan, wherein the country’s parliament passed a bill legalizing casinos last year.
The legalization of casinos in Japan has earlier been welcomed by international gambling companies that have been mulling investment in Japan amid a boom in tourism, particularly from China. Among the operators that have expressed interest were US casino operators Wynn Resorts Ltd, MGM Resorts International and Las Vegas Sands Corp.
“The easing of government regulations related to casino markets is one of the major factors contributing to the growing demand for casino gaming equipment,” Technavio’s analysts said in a press release. “Many countries, such as Japan, are aiming at legalizing casino gaming because of the growing popularity of gambling and the high revenue contribution from casinos globally.”
Technavio also believe that the rising middle-class population and rising disposable income will push the casino’s gaming equipment market’s CAGR upwards.
“This rise in demand for gambling games is leading to an increase in the construction of new casino centers across the world. For instance, Marina Bay Sands, which opened in April 2010, generated a revenue of $1.06 billion from the casino in 2010 and more than $2.3 billion in 2015,” it said.
According to Technavio, the report covers the present scenario and the growth prospects of the global casino gaming equipment market for 2017-2021. The report also considered the revenue generated from the sales of casino gaming equipment in order to calculate the market size.
Technavio’s report, Global Casino Gaming Equipment Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.