European Casino Gambling Market Poised for Growth, Driven by Online Innovation and Strong UK Performance
Europe Casino Gambling Market Online Casinos Revenue In Europe In B
Dublin, March 11, 2024 (GLOBE NEWSWIRE) -- The "Europe Casino Gambling - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029" report has been added to ResearchAndMarkets.com's offering.
The European casino gambling market generated a revenue of USD 115.39 billion in the current year and is poised to register a CAGR greater than 5% during the forecast period.
The European Gaming and Betting Association (EGBA) was formed to keep the casino industry under control. Their main objective was to promote a sustainable iGaming sector in Europe to help players enjoy a safe and fun experience inside a well-regulated market. Countries like the United Kingdom, Italy, and Germany are registering higher revenues compared to other countries across Europe in Casino Gambling.
The European Casino Association (ECA) represents national associations and individual operators of licensed land-based casinos in Europe. Currently, ECA represents the interests of around 900 casinos with over 70,000 employees in 28 countries across Europe. Germany is known to have some of the most complex gambling regulations in Europe. The nation has also made numerous changes in the last few years.
Europe Casino Gambling Market Trends
Online Casino Gambling is Driving the Market
The migration from offline to online gambling was inevitably accompanied by increased revenue associated with online gambling in Europe. Growing hardware and software innovations, the rising popularity of casino and sports betting gambling, and enhanced internet penetration are driving the European casino gambling market.
The dominating players have focused on mergers over the past few years to increase their market stake and improve profit margins by inclining toward the adoption of advanced technologies. Companies of casing Gambling in Europe are developing innovative regional offerings to gain a competitive advantage and compete with established players. Blockchain, IoT, and VR are changing the field of casino gambling. Virtual reality and VR headsets have gained much popularity recently and have been a revolutionary addition to online gambling in Europe over the years. For instance, in May 2023, MGM Resorts International announced the acquisition of the majority of game developer Push Gaming Holding Limited and its subsidiaries. Sweden-based Push Gaming's proprietary technologies, intellectual property, and development expertise are expected to bolster the content production capabilities of LeoVegas for further growth in the market.
United Kingdom is Dominating the Market
The United Kingdom is a major European Country where casino gambling is highly popular and has registered positive growth over the years. The major casino gambling games such as roulette, blackjack and poker, dice games, and slot machines are popular over others in the United Kingdom. Compared to other countries in Europe, the United Kingdom has higher disposable income, and positive regulations by the government towards gambling games have propelled the market. The UK Gambling Commission regulates gambling activity in the region, offering some of Europe's most stringent gambling regulations. The UKGC revokes gambling licenses if the Commission feels that the online gaming company is not abiding by the rules or is mistreating customers.
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