Casino Hotels in the US - Market Research Report (2013-2028)
New York, United States
Last Updated: October 2023
NAICS 72112Revenue
$78.6bn
Past 5-Year Growth
Profit
$XX.Xbn
Employees
613k
Businesses
375
Wages
$XX.Xbn
Casino Hotels in the US industry analysis
Casino hotels offer short-term lodging and on-site gaming facilities, with some establishments upping the entertainment options, adding luxury services and popular sporting activities. However, hotels were classified as nonessential businesses; as a result, revenue suffered during COVID-19. Even with the many shutdowns across the industry, some hotels were able to mitigate some losses because of the rising trend of online gaming. Even with the sector growing most years in the period, industry revenue declined at a CAGR of 0.8% to $78.6 billion over the past five years, with a 2.0% bump in 2023.
Trends and Insights
- Casino hotels are emphasizing multifaceted entertainment venues. To appeal to a broader client base, including the younger generation, expanding entertainment options can help immunize industry performance from fluctuations in the wider economy.
- Gaming machines and table games attract small-stakes players and high-stakes players. Replacing gaming machines often and adding new table games keeps it fresh for the players.
- Las Vegas attracts gamblers from all corners of the US and aborad, helping it earn the title of the world's gambling capital.
- The ambiance of gaming rooms drives competition. Additional services such as food, drink and entertainment options also contribute to demand.
Industry Overview
Market size and recent performance (2013-2028)
Industry revenue has declined at a CAGR of 0.8 % over the past five years, to reach an estimated $78.6bn in 2023.
Trends and Insights
Economic growth and the easing of restrictions limit revenue decline
- Aiming to boost revenue streams to fund budgets, state governments highly encouraged casinos to open during the current period as the stigma against gambling declined, leading to heightened gambling tax collections. The prolonged low level of unemployment before the pandemic facilitated rapid wage growth during the current period.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Operators will roll the dice on improving travel trends
- Travel spending is expected to grow with an improving economy and along with residual pent-up demand, increased patronage will be met by increases in the number of enterprises to meet demand, pushing competitive pressures upwards.
Biggest companies in the Casino Hotels in the US
| Company | Market Share (%)
2023 | Revenue ($m)
2023 | Profit ($m)
2023 | Profit Margin (%)
2023 |
|---|---|---|---|---|
Mgm Resorts International | 11,958.2 | 590.2 | 4.9 | |
Caesars Entertainment, Inc. | 11,408.0 | 2,488.0 | 21.8 |
To view the market share and analysis for all 2 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Gambling machines, Table games and Food and alcohol. Gambling machines is the largest segment of the Casino Hotels in the US.
Trends and Insights
Gambling machine products are a level up
- Gambling machine products are the largest source of revenue for the Casino Hotels industry. Cashless machines have also been introduced in states where legislation permits them.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Non-Hotel Casinos in the US
- Lotteries & Native American Casinos in the US
- Hotels & Motels in the US
- Bed & Breakfast & Hostel Accommodations in the US
- Single Location Full-Service Restaurants in the US
- Bars & Nightclubs in the US
Complementors
- There are no industries to display.
International industries
- Global Hotels & Resorts
- Hotels & Motels in Canada
- Hotels and Resorts in Australia
- Hotels and Resorts in New Zealand
- Hotels in the UK
Table of Contents
About this industry
Industry definition
This industry comprises hotels primarily providing short-term lodging in hotel facilities with a casino on the premises. The casino on the premises includes table-wagering games and may also offer other gambling activities like slot machines and sports betting. These businesses generally provide various services and amenities (food and beverages, entertainment, valet parking, swimming pools, conference and convention facilities).
What's included in this industry?
AccommodationFood and alcoholGambling machinesTable gamesEntertainmentOther servicesCompanies
Mgm Resorts InternationalCaesars Entertainment, Inc.Purchase this report to view all 2 major companies in this industry.
Related Terms
RACINOTABLE GAMETICKET-IN, TICKET-OUT (TITO)SLOT MACHINEPARIMUTUELIndustry Code
NAICS 72112 - Casino Hotels in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Casino hotels are emphasizing multifaceted entertainment venues. To appeal to a broader client base, including the younger generation, expanding entertainment options can hel...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2013-2022) and forecast (2023-2028)
- Employees, including historical (2013-2022) and forecast (2023-2028)
- Businesses, including historical (2013-2022) and forecast (2023-2028)
- Profit, including historical (2013-2023)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Gaming machines and table games attract small-stakes players and high-stakes players. Replacing gaming machines often and adding new table games keeps it fresh for the player...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2023
- Product innovation level
Charts
- Products & services segmentation in 2023
- Major market segmentation in 2023
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Las Vegas attracts gamblers from all corners of the US and aborad, helping it earn the title of the world's gambling capital.
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2023
Tables
- Number and share of establishments in each state in 2023
- Number and share of revenue each state accounts for in 2023
- Number and share of wages each state accounts for in 2023
- Number and share of employees in each state in 2023
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
The ambiance of gaming rooms drives competition. Additional services such as food, drink and entertainment options also contribute to demand.
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2018-2023
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
The top two major players in the industry account for over one-quarter of industry revenue. Both major players have a domestic and international presence.
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2019 through 2023
- Major companies in the industry, including market share, revenue, profit and profit margin in 2023
- Overview of Mgm Resorts International's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of Caesars Entertainment, Inc.'s performance by revenue, market share and profit margin from 2017 through 2023
Detailed analysis
- Description and key data for Mgm Resorts International, and factors influencing its performance in the industry
- Description and key data for Caesars Entertainment, Inc., and factors influencing its performance in the industry
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
The legalization of sports gambling has benefited the industry as casino hotels can now open up sportsbooks in their establishments, adding another source of gambling revenue....
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2013-2028)
- Assistance historical data and forecast (2013-2028)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
The legalization of online gambling across many states has increased downward pressure on industry profit, as patrons can play casino games from the comfort of their own homes...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Investment vs. share of economy
Data tables
- Industry Multiples (2016-2021)
- Industry Tax Structure (2016-2021)
- Income Statement (2016-2021)
- Balance Sheet (2016-2021)
- Liquidity Ratios (2016-2021)
- Coverage Ratios (2016-2021)
- Leverage Ratios (2016-2021)
- Operating Ratios (2016-2021)
- Cash Flow & Debt Service Ratios (2013-2028)
- Revenue per Employee (2013-2028)
- Revenue per Enterprise (2013-2028)
- Employees per Establishment (2013-2028)
- Employees per Enterprise (2013-2028)
- Average Wage (2013-2028)
- Wages/Revenue (2013-2028)
- Establishments per Enterprise (2013-2028)
- IVA/Revenue (2013-2028)
- Imports/Demand (2013-2028)
- Exports/Revenue (2013-2028)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2013-2028)
- IVA (2013-2028)
- Establishments (2013-2028)
- Enterprises (2013-2028)
- Employment (2013-2028)
- Exports (2013-2028)
- Imports (2013-2028)
- Wages (2013-2028)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Casino Hotels in the US industry in United States in 2024?
The market size of the Casino Hotels in the US industry in United States is $78.6bn in 2024.
How many businesses are there in the Casino Hotels in the US industry in 2023?
There are 375 businesses in the Casino Hotels in the US industry in United States, which has grown at a CAGR of 6.2 % between 2018 and 2023.
Has the Casino Hotels in the US industry in United States grown or declined over the past 5 years?
The market size of the Casino Hotels in the US industry in United States has been declining at a CAGR of 0.8 % between 2018 and 2023.
What is the forecast growth of the Casino Hotels in the US industry in United States over the next 5 years?
Over the next five years, the Casino Hotels in the US industry in United States is expected to grow.
What are the biggest companies in the Casino Hotels in the US market in United States?
The biggest companies operating in the Casino Hotels market in United States are Mgm Resorts International and Caesars Entertainment, Inc.
What does the Casino Hotels in the US in United States include?
Accommodation and Food and alcohol are part of the Casino Hotels in the US industry.
Which companies have the highest market share in the Casino Hotels in the US in United States?
The company holding the most market share in United States is Mgm Resorts International.
How competitive is the Casino Hotels in the US industry in United States?
The level of competition is high and increasing in the Casino Hotels in the US industry in United States.
