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    Casino Hotels in the US Industry Market Research Report Now Available from IBISWorld

    PRWeb – Thu, Feb 16, 2012

    The Casino Hotels industry had a rough-and-tumble past five years, with revenue falling as the economy tanked but climbing again as people started traveling domestically and abroad again as consumer spending approved. The past five years marked two major mergers as major players in the US grapple with growing competition abroad, such as the gambling mecca of Macau, China. Caesars Entertainment Corp. (which merged with Harrah’s in 2009), MGM Resorts International (which merged with Mandalay Bay in 2009) and Las Vegas Sands Corporation are the major players in this industry. All three are based in Las Vegas. For these reasons, industry research firm IBISWorld has added a report on the Casino Hotels industry to its growing industry report collection.

    Los Angeles, CA (PRWEB) February 16, 2012

    The Casino Hotels industry began its recovery in 2010 and 2011, after a disastrous 2008 and 2009 when revenue declined 8.7% and 8.4%, respectively, as the economy tanked and people spent less money on gambling. Over the five years to 2012, IBISWorld estimates that revenue will grow at an average annual rate of 0.4%. The industry is driven by a number of factors, including the state of the economy and travel trends. In 2009, the decline of the domestic economy and the increasing unemployment rate forced people to become more selective when spending disposable income. As people cut down on spending across the board, they were less likely to spend money on nonessential activities like gambling, according to IBISWorld industry analyst Nima Samadi. With the economy improving over the course of 2010 and 2011, consumer spending increasing (growing 2.0% in 2010 and 2.3% in 2011) and fears about the economy subsiding, consumers visited casinos more often. This trend is expected to continue in 2012, with consumer spending forecast to grow 2.0%. Declining domestic travel and international arrivals into the United States have also affected the industry. Both fell in 2009, but have grown some since and are expected to grow more in 2012, further fueling demand for hotel casinos.

    The economic downturn also resulted in consolidation in the Casino Hotels industry. A number of major mergers have occurred over the last five years: Harrah's Entertainment Inc. merged with Caesars Entertainment Corporation while MGM Resorts International merged with Mandalay Bay Resort and Casino. The domestic industry has also faced significant competition from international casinos, Samadi notes. In 2007, Macau, China, overtook Las Vegas as the world's largest casino gambling region. Despite the recent decline in revenue, the industry has experienced some positive developments over the five years to 2012 with gambling becoming a more accepted part of the US culture.

    This industry has a low to medium level of concentration. The mergers of Caesars with Harrah’s and MGM with Mandalay Bay secured these operators as dominant players in this industry. Las Vegas Sands Corporation is the third major player in this industry. While the level of industry concentration has increased significantly to 2007, it is now expected to not increase any further due to regulatory constraints relating specifically to this industry by state governments and to overall industry competition levels monitored by agencies of the federal government. Given the nature and operations of this industry, it is not surprising that it mainly comprises large employers. The level of industry concentration increased significantly since 2007 due to consolidation, but it is not expected to significantly rise again over the next five years. For more information, visit IBISWorld’s Casino Hotels report in the US industry page.

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    IBISWorld industry Report Key Topics

    This industry comprises establishments primarily engaged in providing short-term lodging in hotel facilities with a casino on the premises. The casino on premises includes table-wagering games and may include other gambling activities, such as slot machines and sports betting. These establishments generally offer a range of services and amenities, such as food and beverage services, entertainment, valet parking, swimming pools and conference and convention facilities.

    Industry Performance


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    Industry Life Cycle


    Products & Markets


    Supply Chain


    Products & Services


    Major Markets


    Globalization & Trade


    Business Locations


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    Market Share Concentration


    Key Success Factors


    Cost Structure Benchmarks


    Barriers to Entry


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    Operating Conditions


    Capital Intensity


    Key Statistics


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    Key Ratios

    About IBISWorld Inc.


    Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.

    ###

    Gavin Smith
    IBISWorld
    +1(310) 866 5042
    Email Information


     

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