How Big is the Casino Economy?

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1 year ago

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The people were shocked. Many are surprised to learn of the existence of casinos within walking distance. Again, the news of Dhaka casino is an 'open secret' to many. Casinos are legally prohibited in Bangladesh. However, in different countries of the world, casinos are operating according to the law. The casino economy around the world is also huge. The number of people who rush to the casino with huge amounts of money in their pockets is not at all small.

How did the name come about?

The word casino comes originally from Italy. Italian word-root casa, meaning house. The first instance of formal gambling was in Venice, Italy, in 1638. However, gambling casinos were popularized by Americans. The first legalized casino was established in 1931, in Nevada.

Casinos are not only at Las Vegas

First off, it's hard to get up-to-date information on the casino economy. Much of the information is one, two or three years old. Many people say that the gambling industry is one of the biggest industries in the world. It is said to be a roughly 500 billion dollar industry. And the online gambling business that has developed is also gradually growing. For example, in 2017, the online gambling market was worth 45.8 billion dollars.

Many people think of Las Vegas when they say casino. But many may be surprised, but Asia is ahead in casinos. Asia and the Pacific accounted for 43.4 percent of global casino revenue in 2015-16. The United States is next, at 40.1 percent. The EMEA (Europe, Central Asia and Africa) region is in third position. The income of this region is 10 percent. Canada was next at 3.4 percent, followed by Latin America at 3.1 percent.

Macau is now in the lead

Macau is now a Special Administrative Region of China. It was a Portuguese colony until 1999. This Macau is the biggest gambling place in the world. Next is Las Vegas, Nevada. It has the largest number of casinos in the world. Singapore is another great gambling destination. Small space, but the game is worth more money. As a result, the income is also higher.

Who Gambles More

Mark D. Graffitt is one of the leading gambling researchers. According to him, UK people gamble the most in the world. Next is Australia. The people of the rest of the countries are respectively China and Macao, India, Ireland, Finland, Singapore, USA, Canada and Italy.
The largest casino company in the world is Las Vegas Sands. Founded in 1988 in Nevada. In 2018, the company's annual revenue was $13.8 billion. Next is the US's MGM Resorts ($11.8 billion). The next three companies are Caesars Entertainment of the United States ($8.4 billion in revenue), Hong Kong's Galaxy Entertainment ($7 billion) and Wine Resorts of the United States ($6.7 billion). There is also a Malaysian company in the top ten, Genting. Their income is 1.9 billion dollars.

Some Casinos and Their Locations

1. WinStar World Casino – Oklahoma, USA

Owner: The Chickasaw Nation
Date Opened: 2003
Available Casino Games: 8,500 slot machines, 100 table games, 55 poker tables
Age Requirement: 21
Website: https://www.winstar.com/