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European Casino Gambling Market European Online Casino Revenue (B)
DUBLIN, March 11, 2024 (Globe Newswire) — The “Casino Gambling in Europe – Market Share Analysis, Industry Trends and Statistics, Growth Forecasts 2020-2029” report has been added. ResearchAndMarkets.com Recruitment.
The European casino gambling market is expected to generate revenue of USD 115.39 billion this year and register a CAGR of over 5% during the forecast period.
The European Gambling Association (EGBA) was established to bring the casino industry under control. Their main objective was to promote a sustainable iGaming sector in Europe, allowing players to enjoy a safe and enjoyable experience within a well-regulated market. Countries such as the United Kingdom, Italy, and Germany record higher revenues from casino gambling compared to other European countries.
The European Casino Association (ECA) represents the national associations and individual operators of licensed land-based casinos in Europe. ECA currently represents the interests of approximately 900 casinos with more than 70,000 employees in 28 European countries. Germany is known for having some of the most complex gambling regulations in Europe. The country has also undergone many changes over the past few years.
Trends in the European casino gambling market
Online casino gambling drives the market
The transition from offline to online gambling was inevitably accompanied by an increase in the revenues associated with online gambling in Europe. Growth in hardware and software innovation, increasing popularity of casino and sports betting gambling, and strengthening internet penetration are driving the European casino gambling market.
Leading companies have focused on mergers in recent years to increase market share and improve profit margins by leaning toward introducing advanced technology. European gambling companies are developing innovative regional services to gain a competitive advantage and compete with existing players. Blockchain, IoT, and VR are changing the casino gambling landscape. Virtual reality and VR headsets are very popular these days and have been a revolutionary addition to European online gambling for many years. For example, in May 2023, MGM Resorts International announced that it would acquire a majority stake in the game development company Push Gaming Holdings Limited and its subsidiaries. Sweden-based Push Gaming’s proprietary technology, intellectual property and development expertise are expected to strengthen LeoVegas’ content production capabilities for further market growth.
Britain dominates the market
The UK is a major European country where casino gambling is highly popular and has recorded positive growth over the years. In the UK, major casino he gambling games such as roulette, blackjack, poker, dice games and slot machines are more popular than other gambling games. The UK has high disposable income compared to other European countries, and active regulation of gambling games by the government is driving the market. The UK Gambling Commission regulates gambling activities in the region and has some of the strictest gambling regulations in Europe. The UKGC will revoke gambling licenses if the commission determines that online gaming companies are not complying with the rules or treating customers unfairly.
For more information about this report, please visit https://www.researchandmarkets.com/r/xzbzva.
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