Learning that casino companies generate a lot of revenue shouldn’t surprise anybody. People love having chances to strike it big, and casinos offer countless opportunities to do so. With the rise of online gambling in different parts of the world, many casino providers are enjoying record profits. Here are some of the leading casino companies to know about—and one exciting game provider to keep your eyes on.
MGM Resorts International
There is no argument that MGM is the king of the jungle when it comes to casinos. This American company has hotels and holiday resorts closely associated with its casinos. Meanwhile, its BetMGM online platform is on track to generate $1.4 billion in annualized revenue—almost 10% of the US iGaming industry’s total addressable market!
The best-known MGM casino is the MGM Grand. It’s the biggest casino in Las Vegas, with 171,500 square feet of dedicated gaming space and over 2,500 slot machines to try your luck on. If you’re more into card games, there are over 139 poker and table games.
Caesars Entertainment
Another Nevada-based company, Caesars Entertainment operates casinos, hotels, bars, and nightclubs. In 2020, its revenue stood at $3.5 billion. Perhaps its most-known location is the Caesars Palace in Las Vegas. The venue is an elegant building with a Parisian flair. But, of course, the casino games inside are what drive most people into the venue.
Flutter Entertainment PLC
You can also find big casino companies outside of the US. Irish company Flutter Entertainment offers a more traditional casino company framework. The company’s bread and butter is in sportsbooks, fixed odds games, and typical casino games ranging from bingo to poker. In 2022, Flutter’s revenue hit £7.693 billion, or around $9.56 billion. If you’ve ever bet on sports, you might have come across brands like Betfair, Sky Betting, and Sportsbet—all owned by Flutter.
PENN Entertainment
PENN Entertainment is another American company operating casinos and online platforms. The Pennsylvanian company was previously known as Penn National Gaming. The company operates 43 properties across the US, including famous brands like Hollywood Casino and Boomtown. Its revenue in 2022 stood at $6.5 billion.
Entain PLC
This British company, headquartered in London, provides its customers with online casinos, sports betting, and multi-channel betting. The previously mentioned BetMGM platform is a joint venture between Entain and MGM Resorts International. It’s this partnership that has boosted Entain’s revenue in recent months. In 2022, the company generated £4.297 billion (around $5.34 billion) in revenue.
Las Vegas Sands
Many US-based casino companies have a robust global presence. Las Vegas Sands is one such player and is now known for its Asian casino resorts. In fact, its Venetian Macau is the second-largest casino in the world.
The Las Vegas Sands casino is just one of many Macau casinos that have earned it the nickname “Vegas of the East.” For the city to take this crown is not a big surprise, considering it’s the only place in China where casino gambling is legal. However, Macau’s casinos have had trouble getting back on their feet after the pandemic lockdowns.
But it’s not all doom and gloom in Asian casinos. The Marina Sands Bay in Singapore, another Las Vegas Sands casino, generated $343 million in operating income during the third quarter of 2022.
Melco Resorts & Entertainment Limited
Asian companies have set their eyes on the local casino markets as well. Melco Resorts & Entertainment Limited is one of the big players from the region. A subsidiary of Melco International Development Limited, the Hong Kong-based company has properties in Asia and Europe. In 2019, its profits reached $5.7 billion.
Its City of Dreams casino resort in Macau, China, is the fifth-largest casino in the world. The holiday complex welcomes you to visit three separate casinos and stay in one of the four hotels. Quite a good amount of choice!
Evolution Gaming
While traditional brick-and-mortar casinos still make a lot of money, data shows online gambling is rising in popularity. According to Statista, the online casino, online lottery, and online sports betting industries generated $34.59 billion in revenue in 2017. By 2022, this snowballed to $80.81 billion. Casino game manufacturers have also benefited as these profits have flowed into their pockets.
Take the Swedish-based software company Evolution Gaming as an example. In 2022, the company made $1.53 billion in profits with its online casino games. It became so popular in the industry that it currently commands nearly 80% of the market share.
However, Evolution Gaming is far from being the only big player in the industry. The long list of casinos.com upcoming releases from Pragmatic shows another company riding the wave of success. Recently, it crafted a new partnership to expand in Latin America, solidifying its regional position.
Finally, any fans of online games might recognize Microgaming. It is the oldest software provider in the casino world, having made the first online slot machine in 1994.
What Will the Future Bring for Casino Companies?
The casino industry is not stopping anytime soon. Historical records show that we’ve loved playing games and gambling on them for thousands of years. In recent years, the advances in technology and the use of mobile devices have pushed online casinos to the top. In 2020, mobile phones became the most common way of accessing online gambling sites. Online operators are already looking at new ways to capitalize on this support. The future casinos will undoubtedly use artificial intelligence (AI) and virtual reality to engage customers uniquely.
It’ll be interesting to see if traditional companies like MGM continue to have a stronghold in the casino market. Perhaps we’ll see new casino companies emerge with their own unique takes on the industry. Only time will tell!
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