As I was browsing interesting statistics about casinos in general, I saw this report that the percentage of gaming revenue fell from 62% to 44%. I wonder if this has something to do with online casinos. What are your thoughts on this one? What do you think are the factors/reasons why do they have a huge fell off?
That's a hard decline! But its from 1984 to 2023. That's about 4 decades. In 40 years a lot has changed and the internet has transformed lots of businesses and their revenues. So yes, it makes sense that probably online betting affected the departmental revenues.
Probably just that… the emergence of online casinos
It could be somehow more convenient and also could guard user privacy better.
So its understandable if there is a drop in revenue especially over that period.
I would suspect that online casinos have had a lot to do with the revenue declines but they may not be the only factor. Land-based casinos are expensive places to visit and this is probably a factor. It is interesting that the number of gamblers across the world tends to rise every year. The last time that I visited a land-based casino was in 2004 in Macau. It was completely packed with people but how many of those will be betting?
@Graham great points you made. Not all the people hanging out in casinos are placing bets.
That’s a pretty big drop! I bet online casinos are a big part of it. More people are just staying home to play, especially since it's more convenient. Also, younger players might prefer online over going to a physical casino. Could be a mix of that and changing habits post-pandemic.
It's the advancement of online casinos. In future they might expect more drops in revenue. As, the new generations prefer online more.
I think; it’s likely that online casinos are a big factor in that drop. With the convenience of gambling from home, many people are shifting away from physical casinos. Also, the rise of sports betting and other forms of entertainment might be drawing attention away from traditional gaming. The pandemic likely accelerated this trend as well, pushing more people towards online options.
@pkyonze Thanks. This is what I experienced when I visited land-based casinos in London and Macau. It was more evident in Macau as there seemed to be a lot of people just watching the action.
I've been to Vegas and tried Casinos there but honestly there are still a lot of people there almost everyday during my trip. Im surprised there are fallouts like this to revenue behind the scenes.
I'ld say a lot factors are responsible as the time period been considered is large, over that time period the internet became a thing, social media became a thing, inflation rising and falling, purchasing power reducing, rising cost of real estate... so many things could have contributed to the fall in revenues, so its a little bit nuanced and studying. the data more could paint a more accurate picture. Would probably look at it and do a viz if I've got the time.
