Recovery from pandemic declines to drive growth in near term
CLEVELAND, Aug. 5, 2022 /PRNewswire/ — US nominal personal consumption expenditures (PCE) on gambling are forecast to rise 2.3% per year through 2026, according to Gambling: United States, a report recently released by Freedonia Focus Reports. Spending in real (inflation-adjusted) terms is expected to rise 1.1% annually. Advances will stem from increases in population and disposable personal income, as well as a continued rebound from pandemic-related declines. Further, the COVID-19 pandemic drove an increase in participation in online forms of gambling. It is likely this trend will continue to some degree, particularly as mobile gambling apps and websites become more pervasive. At the same time, increasingly permissive laws at the federal, state, and local levels will support consumer participation in gambling. However, restrictions are expected to persist in many areas.
US gambling establishment revenues in nominal terms are forecast to see annual increases of 3.6% through 2026. Underlying these advances will be growth in disposable personal income and the increasing availability of local and online gambling outlets. In addition, gambling establishments will continue to enhance their other service offerings, such as dining, entertainment, and lodging, as a means of boosting revenue. However, competitive pressure from other entertainment providers will continue to challenge the industry.
These and other key insights are featured in Gambling: United States. This report forecasts to 2022 and 2026 US personal consumption expenditures (PCE) on gambling in both nominal and real (inflation-adjusted) US dollars. This report also forecasts US revenues for gambling establishments in US dollars to 2022 and 2026. Total spending in nominal and real terms is segmented in terms of:
- casino
- lottery
- pari-mutuel
Total revenues are segmented by establishment type as follows:
- casino hotels
- standalone casinos
- racetracks
- other gambling establishments, such as bingo parlors, card rooms, and coin-operated gambling concessions
To illustrate historical trends, total personal consumption expenditures, total revenue, and the various segments are provided in annual series from 2011 to 2021.
The scope of this report encompasses firms that derive a significant share of their revenues from gambling services, including private firms that provide lottery services in contract with public entities. Licensed internet gambling operations are also included. Firms that focus on operating, servicing, or supplying coin-operated, non-gambling amusement devices are excluded from the scope of this report.
This report includes the results of a proprietary national online consumer survey of US adults (age 18+). This Freedonia Focus Reports National Survey has a sample size of approximately 2,000, screened for response quality, and representative of the US population on the demographic measures of age, gender, geographic region, race/ethnicity, household income, and the presence/absence of children in the household.
More information about the report is available at:
https://www.freedoniafocusreports.com/Gambling-United-States-FF95040/?progid=91541
About Freedonia Focus Reports
Each month, The Freedonia Group – a division of MarketResearch.com – publishes over 20 new or updated Freedonia Focus Reports, providing fresh, unbiased analysis on a wide variety of markets and industries. Published in 20-30 pages, Focus Report coverage ranges from raw materials to finished manufactured goods and related services such as freight and construction. Additional Consumer Goods reports can be purchased at Freedonia Focus Reports or MarketResearch.com.
Analysis is intended to guide the busy reader through pertinent topics in rapid succession, including:
- total historical market size and industry output
- segmentation by products and markets
- identification of market drivers, constraints, and key indicators
- segment-by-segment outlook in five-year forecasts
- a survey of the supply base
- suggested resources for further study
Press Contact:
Corinne Gangloff
+1 440.842.2400
[email protected]
SOURCE The Freedonia Group
