Global Casino Hotels Market Size Likely to Grow at a CAGR of 3.15% By 2033

As per the current market research conducted by the CMI Team, the global Casino Hotels Market size is expected to record a CAGR of 3.15% from 2024 to 2033. In 2023, the market size is projected to reach a valuation of USD 23.78 Billion. By 2033, the valuation is anticipated to reach USD 31.44 Billion.

Casino Hotels Market: Growth Factors and Dynamics

• Increasing Tourism and Entertainment Demand: The increased inclination towards leisure and entertainment traveling is highly contributing to the growth of casino hotels. Diversification and personalization of the offer is another reason why casino hotels gain more and more appeal among the guests, as more and more people look for high quality experiences and scopes for entertainment during their holidays. The emerging trend of experiential travelling is therefore giving casino hotels the aspect of popularity among travellers and entertainment enthusiasts.

• Rising Disposable Income: The widening of disposable income globally especially in the developing world is evident; it seeing more and more individuals embrace lavish lifestyles in areas such as travel and entertainment. Luxury casino hotels especially with appealing features are always in high demand as they cater to the highest class and provide the best services. Due to the kind of clients’ attraction, and performing a high number of purchases, casino hotels may be a lucrative investment for the operators interested in its popularity.

• Technological Advancements: Ongoing technological advancements in hospitality and gaming technologies, particularly the integration of online gaming with casino hotels, smart room systems and guest experiences are attracting more guests. Such advancements not only provide easier interaction but also better engagement creating appeal among technology driven millennial travelers and gamers.

• Expansion of Entertainment Options: The increasing trend of globalization of entertainment options within casino hotels like live shows, fine dining, exclusive events etc. has been contributing to increased demand with casino hotels acting as a one-stop shop for such multiple entertainment activities.

• Growth in Online and Hybrid Gaming: The rise in the popularity of online and hybrid gaming formats is driving demand for casino hotels, which provide an integrated experience of physical as well as digital games. Such hotels cater to the demands of a new breed of gamers, who seek the convenience of digital gaming and a social environment offered by physical games. The ability of these hotels to offer digital and live games is one of the major reasons behind their growing success.

• Regulatory Changes: Changing regulatory landscapes related to tourism and gambling are paving the way for development and growth opportunities within the casino hotels market in new geographies. With an increasing number of governments realizing the economic benefits that regulated gambling offers, they are providing access permissions to open up casinos, stimulating both innovation and growth. This regulatory support has enabled established players to expand themselves overseas.

• Increasing Infrastructure Development: Rapid infrastructure development, especially in tourist destinations is propelling the demand for casino hotels. As governments invest in building transport facilities, improving connectivity and urbanization, convenience to such casino destinations increases which further lures more customers into visiting them. The ongoing infrastructural developments in emerging markets of tourism are a major factor driving the growth of this market.

• Urbanization and Economic Growth: Rapid urbanization and economic growth, especially in emerging markets, are increasing the adoption of casino hotels as part of integrated resort developments. As urban centers expand and economies grow, the demand for luxury accommodations with entertainment amenities rises. Casino hotels, often part of larger urban development projects, benefit from these trends, driving market expansion.

Casino Hotels Market: New Launches and Acquisitions

• In May 2024, Hard Rock Hotels and Casinos announced its intention to acquire Star Entertainment, signaling a potential major expansion in its global portfolio. This strategic move would strengthen Hard Rock’s presence in the Australian market and enhance its position as a leading player in the global casino and hospitality industry.

• In May 2024, Melco Resorts & Entertainment announced plans to launch a $1 billion integrated resort and casino, named “City of Dreams,” in Sri Lanka. This significant investment marks Melco’s expansion into the South Asian market, positioning the company as a key player in the region’s emerging gaming and hospitality industry. The development is expected to boost tourism and create a new entertainment hub in Sri Lanka.

• In February 2024, a UAE-based group launched a new casino resort in Georgia, offering a unique fractional ownership model with units available for $90,000. This innovative approach allows investors to own a share of the resort, blending luxury accommodations with investment opportunities. The launch positions the group as a pioneer in the region’s hospitality sector, combining gaming, leisure, and real estate investment.

Report Scope

Casino Hotels Market: COVID-19 Analysis

The COVID-19 pandemic has significantly impacted the Casino hotel market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:

• Disruption in International Travel and Tourism: The ongoing COVID-19 pandemic has significantly disrupted international travel and tourism, heavily impacting the Casino Hotels Market. Governments imposed travel restrictions and quarantine measures, leading to a dramatic decline in tourist arrivals and business travel, which has directly affected the occupancy rates and revenue streams of casino hotels worldwide.

• Demand Fluctuations: The pandemic led to significant fluctuations in demand for casino hotels, with lockdown measures, social distancing regulations, and reduced consumer confidence in travel contributing to lower occupancy rates. Many ongoing and planned developments were delayed or canceled due to uncertainties, leading to a reduced demand for new casino hotel projects and renovations.

• Regulatory Framework and Market Restraints: The pandemic has had an impact on the regulatory environment surrounding the casino and hospitality industries, affecting operations with changes in health and safety standards. Economic uncertainties resulting from the pandemic posed challenges such as increased operational costs, compliance with new regulations, and restrictions on large gatherings, which have restrained market growth.

• Operational Challenges: Implementing stringent health and safety protocols in casino hotels added significant operational challenges and increased costs. Labor shortages and workforce disruptions, including illness-related absences and quarantine measures, further strained the operational efficiency of casino hotels, impacting service quality and guest experiences.

• Adaptive Strategies and Focus on Innovation: Casino hotels adopted various adaptive strategies to mitigate the pandemic’s impact, such as offering remote gaming options, digitalizing guest services, and enhancing health and safety measures. Some hotels also focused on innovating their offerings by introducing contactless technologies, personalized experiences, and new entertainment options to cater to evolving guest preferences.

• Technological Advancements: Ongoing advancements in hospitality technology, such as AI-driven guest management systems, enhanced security measures, and smart room features, are expanding the market potential for casino hotels. These innovations aim to improve guest satisfaction, streamline operations, and reduce operational costs, making casino hotels more competitive in the evolving market landscape.

• Automation Push: The pandemic underscored the importance of automation in the hospitality industry to reduce reliance on human labor and enhance operational efficiency. This has led to an increase in demand for automated systems within casino hotels, such as self-check-in kiosks, automated cleaning solutions, and AI-powered customer service, which have become more prevalent as hotels adapt to the new normal.

• Focus on Sustainability: The market is also seeing a growing emphasis on sustainability, with casino hotels adopting eco-friendly practices such as energy-efficient lighting, water conservation measures, and waste reduction programs. This trend aligns with the increasing consumer and regulatory focus on environmentally responsible practices, which is becoming a key differentiator in the competitive hospitality market.

In conclusion, the COVID-19 pandemic has had a mixed impact on the Casino Hotels Market, with some challenges and opportunities arising from the pandemic.

List of the prominent players in the Casino Hotels Market:

• MGM Resorts International
• Caesars Entertainment Corporation
• Wynn Resorts
• Las Vegas Sands Corporation
• Melco Resorts & Entertainment
• Galaxy Entertainment Group
• SJM Holdings Limited
• Hard Rock International
• Genting Group
• Marina Bay Sands
• The Star Entertainment Group
• Boyd Gaming Corporation
• Sun International
• Crown Resorts
• Foxwoods Resort Casino
• Mohegan Sun
• Resorts World
• Bally’s Corporation
• The Venetian Macao
• City of Dreams Manila
• Others

The Casino Hotels Market is segmented as follows:

By Type

• Luxury Casino Hotels
• Mid-Range Casino Hotels
• Budget Casino Hotels

By Application

• Leisure Travel
• Business Travel
• Event Hosting

By Service Offering

• Gaming Facilities
• Accommodation
• Dining and Entertainment
• Spa and Wellness Services
• Event and Conference Services

By End Use

• Individual Travelers
• Groups
• Corporate Clients
• Tour Operators

By Distribution Channel

• Online
• Offline

Regional Coverage:

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Russia
• Italy
• Spain
• Netherlands
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Taiwan
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America