CLEVELAND, Dec. 13, 2016 /PRNewswire/ -- Consumer spending on gambling in nominal terms is forecast to grow 3.5% annually through 2020. An increasingly permissive regulatory landscape and gains in disposable personal income will support consumer participation in this activity. Once largely relegated to a few travel destinations such as Las Vegas, the opportunity for gambling is available in more locations throughout the country. In Illinois, for example, consumers may gamble at video gaming terminals in many bars and truck stops. In other states, lottery tickets are available for purchase at gas station pumps.
These and other findings are featured in Gambling: United States, a report recently released by Freedonia Focus Reports, a division of The Freedonia Group.
Revenues for US gambling establishments are projected to rise 2.9% annually through 2020 on the strength of gains in consumer spending on gambling. Casino hotels are expected to see above-average growth, as many of these establishments offer gambling as part of a diversified entertainment strategy. Efforts to offer the Las Vegas casino experience closer to home will also boost revenues within the racetrack segment.
The report forecasts US personal consumption expenditures (PCE) on gambling in both nominal and real (inflation-adjusted) US dollars to 2020. Total spending in nominal and real terms is segmented by gambling type in terms of:
This report also forecasts US revenues for gambling establishments in US dollars to 2020. Total revenues are segmented by establishment type as follows:
- casino hotels
- standalone casinos
- other gambling establishments.
To illustrate historical trends, total PCE, total revenues, and the various segments are provided in annual series from 2005 to 2015.
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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. 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.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/consumer-spending-on-gambling-to-rise-35-annually-through-2020-300376798.html
SOURCE The Freedonia Group