Paraguay Gaming Revenues Going Up in the First Two Months of 2018 [...]
Research Company Predicts the Future of US Casinos
- April 25, 2016 By Oliver Young -
Research firm Rubin Brown published the 2016 edition of the report ‘Gaming Statistics’, a comprehensive review of the gambling industry in the United States. This is the 7th year anniversary of the publication which includes statistical data from this industry, namely data from more than 1,000 gambling operators across 40 US states and it incorporates four gaming segments the company monitors.
According to the publication, in the future US casinos will offer a large selection of gambling variants such as skill based slots, expanded online gambling and sports betting, eSports arenas, betting facilities and fantasy sports. The practice leaders of ‘Gaming Statistics’ are Daniel Holmes and Brandon Loeschner.
$71 Billion Lost by Gamblers at Casinos
The publication starts with the statement that the US gambling industry surpasses $70 billion in yearly revenue as organic growth returns to gaming in 2015. Namely, it implies that about $71 billion was lost by gamblers at both commercial and tribal land based casinos, online gaming on a state level and limited-stakes gaming. The number is the highest total so far for the industry and marks the sixth consecutive year of growth.
Furthermore, the performance is attributed to organic growth which has continued over the years not to regional expansion and opening of new markets allied to the growth of the job market and low fuel prices. The trend is also expected to continue in future.
The report marks that approximately 54% of the gambling revenue comes from commercial casinos, while tribal gaming establishments contribute 41%. The other segments, namely the limited-stakes gaming and online gambling markets provide 4% and less than a half percent respectively.
The findings in the report are supported by the numbers from the Center for Gaming Research at University of Nevada. They reported that the gambling revenue in 20 US states with commercial casinos for January and February 2016 was up by 4.1% from last year.
The publication also ranks land based gambling cites by revenue and the leader is, of course, the Las Vegas Strip with $6.35 billion revenue generated. On the second spot is Atlantic City with $2.41 billion while on the third position is Chicago with $1.97 billion in gambling revenue. Forth spot goes to New York City ($1.39 billion) while on the fifth position is Detroit with $1.38 billion.
More Skill Based Slots in the Future
‘Gaming Statistics’ also points that the iGaming sector will continue its growth in 2016 and beyond as financial institutions improve the processing of legal online gambling transactions and US states partner to increase liquidity and player experience.
Furthermore, skill based slot machines will be very popular in future. These games have already been given thumbs up in Nevada and New Jersey and they are currently under consideration in Pennsylvania. According to Daniel Holmes, technology developments like these slots are driving the gaming industry forward and casino operators would need to offer a lot more than a several slot machines and tables including a buffet at the back.