The casino industry has seen many changes over the past 20 years, with the most major being the introduction of online casinos and games.
Gamblers have gone from only being able to play their favourite slots or table games at a brick and mortar casino to now having the luxury of playing these games at home on a computer.
In addition, the rise of online casino apps and mobile websites plus the development of mobile devices has seen more people enjoying casino games on their mobile phones and tablets. For many people, even those currently in their 40’s, this was just a dream when growing up but has become reality in recent years.
So, for those online casinos who are well respected in the industry such as Starspins Casino, the figures show an improvement in gross gambling yield in terms of slots for the period between April 2018 and March 2019, and April 2017 and March 2018. Starspins is a good example because this online casino pays a great deal of attention to slots games and their online slots category is highly recommended in the industry.
The question is, how did the casino industry fair in 2019? Have the continued improvements in technology helped to grow the casino industry or has it reached a plateau?
When analysing statistics, many conclusions can be drawn and when looking at potential growth or decline in the casino industry, much depends on what start date you use. For example, if you look at the total gross gambling yield of the Great Britain gambling industry for April 2018 to March 2019, it shows a 0.3% decrease on that from between April 2017 and March 2018. This is a very small percentage but nonetheless it still represents a decrease in the total gross gambling yield of the Great Britain industry for the year between the two dates.
However, a closer look at how the casino industry fared in 2019, with a continued focus on the United Kingdom shows a clear difference between remote casinos (online casinos) and land-based casinos in Great Britain. The latter showed a 10.3% decrease in gross gambling yield from April 2017 to March 2018 and the same period a year later. By shifting focus to remote casinos which include websites, mobile phones, television or other online gaming services we see a significant difference in the data. The total gross gambling yield for the remote casino category (slots) for the same period of time shows a 5.8% increase.
Interestingly, while business sectors in the global economy have been struggling, the online casino industry has been moving in the opposite direction since 2009. In 2015, the online gaming market was worth $37.91 billion and is predicted to be worth as much as $60 billion by 2020. This is good news for websites like Starspins Casino who continue to develop and improve their online casino offering.
Moving to the United States and a major shift in the regulations of gambling in the country has drastically changed the fate of the casino industry. New laws which were brought in allowed each state to regulate their own gambling and this has led to the acceptance of sports betting, including online sports betting. This may not have a direct effect on the casino industry but many of those offering sports betting services also provide a casino and the more people who are being attracted to the business, even if it is for sports betting, may also try their hand at playing casino games .
However, while figures shown in the global casinos and online gambling industry report highlight an increase to over 5,100 in the number of businesses operating in this sector, total revenue has fallen. Total revenue in 2019 fell to $268 billion and the annual growth between 2014 and 2019 was -0.8%.
Again, 0.8% may not seem like a significant number but it still shows a slight decrease in the annual growth between the two dates highlighted above for the casino industry. There could be many reasons for this and it is difficult to speculate exactly why this has happened but it is not necessarily bad news for the industry as a whole. For highly respected online casinos such as Starspins, which was established in 2013, the future seems bright as technology continues to improve as do the quality of the casino games available.
Every industry reaches a plateau in terms of growth but that does not mean profit or future growth is going to slow down.