What is the Casino Industry?
The casino industry (also known as the gaming industry) is the segment of the business world that includes casinos and gaming premises, and partly associated businesses like hospitality and tourism, technology and construction which support the casinos themselves. In addition to games, casinos often offer entertainment, retail, business services and accommodation in what are termed resort casinos: these services as a whole form the ‘casino industry’.
Casino Industry Explained
All commercial gambling activity falls under the international umbrella of the ‘casino industry’ – the business sector which deals in gaming and its associated services. Casinos themselves are the center of this industry, along with online casino sites, but there are a host of other business types linked to the casino industry too, including hotels, restaurants, bars, retail complexes, sports arenas, entertainment venues and conference centers. These are known as resort casinos. Product sponsors, game developers, construction workers, travel agents and entertainers also play a crucial role in the industry, and many companies rely on casinos as their main form of income.
The global casino industry is the overall combination of gambling sectors and related businesses across all countries where gambling is legal, and it is worth billions per year to the world’s economy. The largest regional casino industries can be found in Asia and the United States, and the largest single casino market within the industry is Macau, where gambling revenue was set to top $30 billion 2017. Private corporate interests maintain the majority of casinos within the industry, though state governments and tribal groups also operate large numbers of casinos around the world.
The casino industry is usually strictly regulated and controlled, and often taxed heavily. There is also a substantial illegal casino industry, operating largely online, which runs unregulated gaming and often serves jurisdictions where gambling is prohibited. It is not known how much this illegal industry is worth, but estimates suggest it could turn over billions of dollars annually.