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Casinos Market to Grow with Sustainable CAGR During 2022

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According to reports, the global online gambling market size will grow to about $172 billion by 2030. This growth represents a CAGR of 11.6% in the same period. You can attribute this growth to the fact that online gambling has been arguably the fastest growing industry globally in the last decade. Millions of gamblers log into various platforms to gamble daily. Consequently, the revenues the operators generate are massive and boost the worldwide online gambling market.

Factors behind the sustainable CAGR in 2022

Smartphone penetration

Mobile gambling is emerging as the most preferred gambling mode globally. Even though it faces restrictions alongside online gambling in some regions, the mobile gambling market is projected to keep growing in 2022. Gambling regulators’ reports confirm that mobile gambling is prevalent among younger players.

In this regard, many online casino operators have developed mobile apps and mobile-optimized websites to cater to mobile gamblers’ needs. People who enjoy Joe Fortune’s online blackjack games want to be able to access the games on their mobile devices. Such demands by users are what have also inspired game developers to create online casino games using a mobile-first approach.

In addition, mobile payment methods like Pay by Phone, Apple Pay, and others have also contributed to the industry’s growth. These payment methods have shortened deposit and withdrawal times, encouraging more people to wager online.

Sports Betting

Nowadays, most online casinos include a sports betting section. This approach has helped to boost their revenues massively. For instance, industry experts claim that the sports betting industry is projected to grow to around $139 billion by 2028. This growth is a CAGR of over 10% in the same period. Live sports action is now available daily, meaning bettors have events to wager on every day.

Besides that, there is a World Cup year, and soccer is the most wagered sport globally. As a result, online casinos running sports betting sections will have plenty of markets to offer their members. On the other hand, casinos no longer depend on live sports action, thanks to the growth of eSports which makes the options even more. 

Other sports that have also become popular among bettors are basketball, tennis, American football, and horse racing. With all these sports having significant events this year, you should expect sports betting activities to hit an all-time high this year. Also sponsorship deals between casinos and sports entities will also boost casinos visibility globally. 

Market Segmentation

You can divide the global gambling market into three categories using type, device, and region.

  • Type: the online gambling market is divided into five primary types: casinos, sports betting, bingo, poker, and others. Based on studies, the sports betting section is anticipated to lead the market in 2022. In addition, the online casino segment is also expected to make substantial achievements in the course of the year.
  • Device: the device segment is divided into desktop, mobile, and others. The desktop segment generated considerable online gambling activity in 2021 because people enjoyed larger screens that offer better visibility. Be that as it may, mobile gambling is still expected to grow massively in the coming days due to smartphone penetration.

Regional outlook

The global gambling market is classified into the following regions:

  • North America
  • Europe
  • Asia-Pacific
  • Middle East & Africa
  • Latin America

Europe is the leading region in online gambling activities. In addition, experts expect the region’s online gambling activities to soar in 2022. Their top spot is mainly because of the growing sports industry in the region and the ease of online casino regulations. In addition, many leading online gambling operators are in the region.

On the flip side, the Asia-Pacific region is projected to register the fastest growth between 2022 and 2030. Experts attribute the rapid growth to the increased smartphone penetration in China and India. Also, rapid urbanization and increased internet penetration are contributing factors. Other observers also attribute the growth to the increasing adoption of cryptocurrency in online gambling to have positively affected the Asian-Pacific online gambling market.

Final Thoughts

The casinos market is one of the most lucrative industries globally. However, it is also very competitive, meaning operators must offer the best products and services to remain competitive. This competition has come as a blessing in disguise to the gamblers as they get to enjoy top-drawer services. As more gamblers join the online gambling community, you should expect to see the industry growing at unprecedented rates in 2022.

Industry News

FDJ and Heritage Foundation Donate €1.26M to YMCA Paris for Restoration Project

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French national lottery operator Française des Jeux (FDJ) has made a €1.26m donation to mark this year’s European Heritage Days.

Late last month, FDJ embarked on its fifth “Mission Patrimoine,” a scheme to raise money for protecting and restoring heritage sites.

Now, in the same vein, FDJ and French heritage foundation Fondation du Patrimoine have joined forces to help restore a piece of Parisian history.

The YMCA Paris, located at 14 Rue de Trévise, was inaugurated in 1893 and houses the world’s oldest basketball court.

In a bid to maintain this site, a registered historical monument “weakened by time,” FDJ and Fondation du Patrimoine have awarded the YMCA €1.26m.

“Contributing to the renovation of the YMCA site, weakened by time, and bringing it back to life is a source of great pride for FDJ, our Corporate Foundation and employees,” FDJ Chairman and CEO Stéphane Pallez said.

“The YMCA project allows us to combine our various societal commitments in the areas of heritage, sport and youth,” she added.

In August, FDJ launched the latest incarnation of its Mission Patrimoine. This involved a scratch card campaign and several Loto draws to raise money for Fondation du Patrimoine.

Célia Vérot, General Manager of Fondation du Patrimoine, said: “The YMCA Paris site proves that beyond its cultural or architectural interest, heritage can play a very useful social role.

“With the support of FDJ and the FDJ Foundation, Fondation du Patrimoine promotes the financing of heritage projects with an impact in terms of inclusion and integration.”

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Industry News

Gaming Corps Appoints Victoria Bonner as CMO

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Stockholm-listed Gaming Corps has appointed Victoria Bonner as its chief marketing officer and confirmed the departure of chief communications officer Erika Mattsson.

Mattson is leaving the Malta-licensed supplier at the end of this month after nearly four years in the role, with Gaming Corps chairman Claes Tellman temporarily taking on responsibility for communications and investor relations until a replacement has been appointed.

New CMO Bonner boasts extensive industry experience, having held marketing roles at leading gaming suppliers including Relax Gaming and Pragmatic Play.

Gaming Corps CEO Juha Kauppinen said: “I would like to wish Erika the best of luck in her new role and at the same time take this opportunity to thank her on behalf of everyone in the leadership at Gaming Corps for these years. I also want to welcome Gaming Corps’ new chief marketing officer Victoria Bonner who I am confident will to bring the knowledge, network and commitment to the industry, which is necessary for the further expansion and marketing of Gaming Corp’s next generation casino slots and other games.”

Commenting on her appointment, Bonner said: “Gaming Corps is at an exciting point in its journey where organic positioning has translated into an impressive commercial pipeline.

“The products and strategy of the company’s branded offering are exactly what the industry is asking for right now, and with a new, greater focus on marketing, I am very happy and excited to join a company that is right on the threshold of becoming a prominent name in the industry. I want to extend my heartfelt thanks to Erika for her work and the incredible foundation she laid.”

Mattsson added: “Warm thanks to everyone I have had the privilege of working with during these almost four years, above all thank you to my friends in the management. I am also very pleased to have recently welcomed Victoria and that the company has reached the point where a wholehearted investment in marketing is possible.

“I have great confidence in Victoria as well as in Gaming Corps facing a bright future and looking forward to closely following the continued journey as a friend and shareholder.”

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Industry News

International Game Technology PLC Announces Completion of Sale of Italian Commercial Payment Business to PostePay S.p.A.

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International Game Technology PLC announced that its wholly owned subsidiary IGT Lottery S.p.A. has completed the sale of its Italian proximity payment business to PostePay S.p.A. – Patrimonio Destinato IMEL for €700 million.

The negotiated sale price represented an enterprise value of €630 million and approximately €70 million of net unrestricted cash. The business held approximately €140 million in unrestricted cash at the closing. The increase in unrestricted cash is primarily attributable to timing of vendor payments and operating cash flows generated since December 31, 2021. IGT will use the proceeds from the transaction primarily to pay transaction expenses and reduce debt.

UBS AG acted as lead financial advisor and fairness opinion provider to IGT, UniCredit S.p.A. acted as financial advisor to IGT. Advant-Nctm acted as legal advisor to IGT and KPMG acted as financial due diligence and tax advisor to IGT.

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