Casino equipment industry is about to grow strong in 2024

The casino gaming equipment market is reaching new heights.

The latest figures have marked $11.94 billion in 2023, while this year it is headed to $12.59 billion with a growth rate of 5.5%.

Development of new tech, and changing player preferences are some of the crucial factors contributing to its growth upwards, along with rising crypto casinos.

Technology innovation driving growth

The technological side of things is pretty interesting.

With firms like Ainsworth Game Technology investing huge amounts of money in the development of new products, especially after some profit dips, everything from elaborate themes to progressive jackpots keeps people seated endlessly.

The biggest money-making machines are still slot machines, which have come a long way.

Of course, floor-mounted equipment is still going strong, too, as casinos love them simply because they’re so stable and easy to install.

The rising popularity of Bitcoin casinos

Bitcoin casinos are setting some serious standards nowadays. To be more precise, more than 140 new crypto-based casinos have been launched just in 2024.

With them, players love that the transactions are fast, fees much lower, and security on a whole other level.

In particular, these casinos are very popular in areas where land-based gambling is banned or highly restricted, which also fuels demand for online and land-based casino equipment.

Plus, these sites come with a wide range of bonuses, such as free spins, crypto casino deposit bonuses, and no-deposit bonuses.

Sites like Mega Dice accept over 20 different cryptocurrencies for making deposits and withdrawals. 

Market segments and regional growth

If slot machines dominate casino floors, floor-mounted gaming systems are not too far behind due to their reliability and wide appeal.

Portable equipment is the new hit – smaller in segment size but slowly gathering speed as venues seek more flexibility within their gaming offerings.

North America remains the leading region for casino equipment sales, which is not really surprising when considering how many established casinos are located there. But watch out for Asia-Pacific – it’s coming on strong.

Growth is being propelled by high disposable incomes, a young population, and the establishment of new gaming laws in numerous markets.

Other countries, such as the Philippines and Singapore, are leading the way and dynamically pushing forward for more.

Challenges and regulations

The industry isn’t without its headaches, though. Regulations can be a real pain, varying wildly from region to region.

Take Latin America – companies like Ainsworth have had a tough time there, especially in Argentina where inflation and restrictions are causing problems.

Then there’s the constant pressure to upgrade equipment with new technology.

It costs cash-strapped casino operators a pretty penny, but they must do it to remain competitive and keep the players happy.

What to expect in the future

Looking ahead, things look rather good. This projects the global online gambling market, inclusive of Bitcoin casinos, to be approximately $97.15 billion toward the end of 2024.

Casino operators and manufacturers of equipment feel better positioned to take up huge shares of the market through strategic partnerships that help in exploring new territories.

The industry is adapting well to new player preferences and market conditions, trying to combine traditional casino experiences with innovations.

This combination seems to be the perfect marriage of old-style gaming and advanced technology doomed to work out well for the future.

Strategic partnerships, as well as opening up new markets, are well on track to position the casino equipment sector for continued growth over the coming years.