The global gambling market, which has historically had relatively low levels of brand concentration, is seeing several major players take on worldwide significance, according to a new IBISWorld report.
Global Casinos & Online Gambling has just been updated for 2012, and highlights mega-casino operators like Caesars Entertainment Corporation – formed through the merger of Caesars and Harrah’s – as driving forces behind greater concentration within the industry.
Las Vegas Sands and Genting Berhad have both also expanded in recent years, helping to take them to a more significant standing in terms of the global market.
However, the four biggest firms in the industry account for less than a third (31%) of global revenues in 2012, indicating that there are still healthy levels of competition and opportunities for smaller brands to perform well.
Overall, global casino and online gaming is expected to perform well in 2012, with IBISWorld estimating growth of 5.7% in revenues, taking the five-year average annual growth rate to 2.3% despite a turbulent 2009.
Asia in particular is expected to contribute substantially towards this expansion, while markets in Europe and the US – including land-based casinos in Las Vegas – see fairly flat figures over the course of this year.