Economic development, increasing per capita income, and the introduction of online gambling platforms are contributing to the exponential growth of the  gambling industry.  Over the last couple of years, growing awareness about mobile applications in developing countries is encouraging the leading vendors to introduce innovative variants in the global market. The rising focus one enhanced marketing and online promotions are augmenting the development of the gambling industry worldwide. The adoption of adoption of augmented reality and virtual reality in gambling will help the vendors sustain the intense competition across the industry. The inclusion of digital or cryptocurrency as standard money results in secure financial transactions and automated tracking in the global gambling market.  The digitilazation of the gambling industry will prompt the vendors to develop supporting mobile applications that will help enhance the consumer experience. Technological innovations will boost the revenues in the global market over the next few years.

The gambling market is projected to reach values of more than $525 billion by 2023, growing at a CAGR of around 4% during 2017-2023.

The leading vendors that dominated the majority of the market share in the gambling industry are discussed below:

1.    Las Vegas Sands Corporation

Las Vegas Sands Corporationoperates integrated resorts and hotels in Asia and the US in the gambling industry. The company’s properties feature entertainment,  retail  stores, exhibitions, conventions restaurants, and Casinos. The casinos are major offerings of the company and are also the highest revenue generating segment. In its Asia operations, the company has a controlling interest in Sands China Ltd. and operates the Sands properties in Macau SAR. Las Vegas Sands Corporation is one of the leading companies in terms of land-based activities in the gambling industry. The company has integrated resorts with world-class gambling facilities like casinos and slot machines in the US, Macao, and Singapore.

Key News: Las Vegas Sands Corporation has a strategic focus on attracting more customers to family tourists and leisure activities in the gambling industry.

2.    MGM Resorts International

MGM Resorts International owns and operates casinos, resorts, and hotels in the gambling industry. The company’s properties house amenities including stay, gambling, convention centers, restaurants, spa, entertainment, and retail.The company operates several resorts with integrated casinos in the US and China. The MGM casinos have the third highest casino revenues, an estimated $6 billion in 2017. MGM Resorts International’s operations feature a variety of table games, slots, and sports and race wagering. The company also offers its premium players access to high-limit rooms and lounge experiences in the gambling industry.

Key News:MGM Resorts International focusing on executing a targeted approach to international as well as domestic expansion to increase global brand presence in the market.

3.    Galaxy Entertainment Group

Galaxy Entertainment Group is one of the leading companies in Macau with two major segments namely, hospitality and gambling. The company is one of the leading players in the gambling industry with revenues approximately $7 billion from these activities in the market. Galaxy Entertainment Group has resorts and hotels that operate of international standard casinos and gambling floors, thereby attracting new consumers in the market. The company is also exploring business partners in Monaco, Japan, and the Philippines to expand its business outside Macauin the gambling industry.

Key News:Galaxy Entertainment Group achieved growth in EBITDA for ten consecutive quarters in June 2018, thereby boosting revenues in the market.

4.    Paddy Power Betfair

Paddy Power Betfair is one of the leading players of the sports betting sector in the gambling industry. The company is active in multi-channel sports betting and allows its users to place on the sports in regions by the local laws and regulations. The company has also entered in fantasy sports market and offers to bet on games including NBA, NFL, NHL, NASCAR, Golf, EPL, and WNBA resulting in higher revenues in the gambling industry.Paddy Power Betfair also offers online casino games including blackjack, roulette, poker, and several video game themed slot games.

Key News:Paddy Power Betfair designs and develops its platforms by focusing more on online, mobile, and sports over retail, desktop, and gaming, respectively in the market.

5.    William Hill

William Hilloffers online sports betting and casino games through its websites and mobile app in the gambling industry. The company is among the top three sports betting operators in Italy and Spain.William Hill has been operating in the global gambling industry since 1934. All its 16,000 employees work to provide seamless gambling services to its users. The UK accounts for approximately 82% of the revenues, followed by Australia with 7% of its revenues. The US accounts for a 3% share of the total revenues while Italy and Spain combined generate 4% of the company’s revenues.

Key News:William Hill is diversifying its revenue sources into international channels to reduce the effects of regulatory changes in the global market.

The other prominent players operating in the market are AsianLogic, Betway, Betfred Group, Betsafe, Betsson, Bet-at-Home, Bwin, Camelot Group, Casino Cosmopol, Caesars Interactive Entertainment, CasinoEuro, Casinostugan, Casumo, Comeon, Expekt, Folkeautomaten, Gametwist, Genting Berhad, GVC Holdings, Interwetten, Jackpotjoy,  Kindred, LeoVegas, Mr. Green, Mybet, Mobilbet, Nordicbet, Norgesautomaten, Norsk Tipping, OnlineCasino Deutschland,  Pinnacle, Playtech, Rank Group, SJM Holdings Limited, Sky bet, Stargames, Sunmaker, Sportech, Svenska Spel, Tipico, Vera&john, Win2Day,  Wynn Resorts, 1xbet, and 888 Group.

Read: Gambling Market - Global Outlook and Forecast 2018-2023Read: Online Gambling Market - Global Outlook and Forecast 2018-2023

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