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The US gaming market will reach $93 billion by 2020

Posted on the 26th of January 2016

The US gaming market will reach $93 billion by 2020

According to a report published by Technavio, a leading market research company, the U.S. gaming market revenue could reach $93 Billion by the year 2020.

“Many casinos are adopting alternate methods to increase their customer base and expand their business in the US. For example, casinos are collaborating with prominent luxury hotels to offer entertainment options. Slot machines are often placed at restaurants, bars, and other attractions to reach out to potential customer,” said Faizan Akthar, who is Technavio’s lead market research analyst for media and entertainment sector.

“The tourism industry in the country has recovered since the end of the economic recession, growing at a CAGR of over 7% until 2015. 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,” added Faizan.

Some of the reasons behind the growth of the US gambling industry include:

The expansion online gambling
Delaware legalized online gambling in 2012, Nevada legalized it in 2013 and New Jersey legalized it in 2013. When the states of Nevada, New Jersey, and Delaware legalized online gambling, offering safe and secure access to online casinos from the comfort and privacy of one’s own home, the US online gambling market’s revenue grew exponentially. The US online gambling revenue grew by 212% in 2015. There is still a great deal of potential for the market to explode in terms of growth, once other states follow suit and legalize online gambling.

The contribution of the casino industry to the national economy
The casino industry is one of the biggest generators of jobs and employment, having generated more than 500,000 jobs in 2015, and $13 billion in tax revenues. US casinos are taxed at 25%, compared to the 10% tax rate of an average person. This is encouraging the U.S. government to legalize casinos across the country.

The advanced transportation infrastructure in the United States
The country’s well planned and connected roadways, railways, and general transportation infrastructure makes it easy for people to travel from one location in the U.S to another location with relative ease. For example, the Las Vegas airport has the capacity to process more than 20 million annual visitors, which is about 55,000 visitors per day.

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