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Slot Machine Market to Soar at 7.9% CAGR, Fairfield Market Research Projects US$18.2 Bn Revenue by 2030

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The global slot machine market is poised for substantial growth, with an estimated market size of approximately US$9.9 Bn (2022) projected to surge to a valuation of US$18.2 Bn by the end of 2030. This impressive growth trajectory indicates an impressive CAGR of 7.9% from 2023 to 2030.

REPORT SCOPE

Report Attributes Details
Base Year 2022
Forecast Year 2023 – 2030
Estimated Market Size in 2030 US$18.2 Bn
CAGR 7.9%
Growth Drivers
  • Increasing tourism activity
  • Growing number of casinos, globally
  • Rise of innovative game designs
Segmentation
  • By Application (Refining, Ammonia, Transport, Others)
  • By Technology (Alkaline Electrolyser, PEM Electrolyser, Solid Oxide Electrolyser & Others)
  • By Source (Solar PV, Offshore Wind, Onshore Wind)
Regional Coverage
  • North America (US, Canada)
  • Europe (Germany, UK, France, Italy, Turkey, Russia, Rest of Europe)
  • Asia Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, Rest of Latin America)
  • Middle East & Africa (GCC, South Africa, Rest of Middle East & Africa)
Key Players IGT, Aristocrat Leisure Limited, Scientific Games Corporation, Konami Gaming, Inc., Everi Holdings Inc., Novomatic Group, SuzoHapp, APEX Gaming, Zytronic

The robust expansion in market revenue is propelled by a combination of factors, including the increasing popularity of digital and online gaming applications, advancements in technology enhancing player experiences, and the steady rise in disposable incomes, particularly in key regions such as North America, and Asia Pacific.

The flourishing casino industry, and the dynamic shift toward digitalisation primarily positions the slot machine industry as a lucrative area that expects sustained growth and investment opportunities in the coming years.

The adoption of progressive slot machines, and the integration of cutting-edge technologies will most likely drive sustained growth in the market. The global slot machine market is navigating a dynamic landscape with the rise of digital applications, progressive features, and regional expansions,” predicts the company analyst.

Key Research Insights

  • Video slot machines lead the machine type segment, garnering high demand due to their incorporation of free spins and mini-games, appealing to a broad customer base with their engaging features.
  • While mechanical products historically dominated the slot machine market, serving as its foundational elements due to early adoption, their market share has waned over the years. The rise of digital and electronic slot machines has eclipsed the appeal of traditional mechanical slots, offering enhanced features and interactivity.
  • Presently, North America holds sway in the slot machine market, attributed to its well-established gambling culture, technological advancements, stringent regulatory framework, and robust consumer spending on leisure activities.

 

Insights into Segmentation Analysis

Casino Application Remains Dominant

Casinos capture the largest market share, serving as major hubs for slot machines. Digitalisation of casinos and online platforms expands the reach of slot machines, making casino applications the primary platform for gaming and revenue generation.

Mobile gaming, social gaming, and online platforms witness high growth, driven by changing player preferences and technological advancements.

Mechanical Product Category Leads

Traditional mechanical slot machines historically held the largest market share. Digital and electronic slot machines gain ground with enhanced features and interactivity. Digital products experience the highest growth rate, offering dynamic and immersive gameplay for modern players.

Computerisation Technology Spearheads

Progressive slot machines with collective jackpots attract players with the promise of substantial winnings. Interconnected progressive jackpots across casinos, and online platforms foster larger prize pools. The surge in demand for progressive slots makes them a persistent favorite among gamblers.

Key Report Highlights

  • Casino applications, particularly in the digital realm, continue to dominate. The demand for progressive slot machines with captivating jackpot features will rise high.
  • As the gambling industry evolves, other applications like mobile gaming, and online platforms will also experience significant growth in the years to come.
  • The market is witnessing a shift from traditional mechanical products to digital and electronic slot machines. The latter will however offer more enhanced features, and interactive experiences.

Insights into Regional Analysis

North America Represents the Largest Regional Market

North America secures the largest market share due to a long-established gambling culture. Technological advancements in slot machines draw players seeking immersive experiences.

Robust regulatory frameworks, and a strong economy collectively contribute to North America’s leadership position in the global market for slot machines, says the report.

Asia Pacific Develops a Stream of Opportunities

Rapid economic growth, increasing disposable incomes, and a growing middle-class population drive demand in Asia Pacific. The region’s expanding tourism industry, particularly in Macau and Singapore, contributes to the surge in casino resorts and slot installations.

Integration of cutting-edge technologies like virtual reality (VR), and blockchain presents a wealth of growth opportunities to the manufacturers and other participants in the slot machine market, across the Asia Pacific region.

Major Competitors in Global Slot Machine Market

Key players like IGT, Aristocrat Leisure Limited, Scientific Games Corporation, Konami Gaming, Inc., Everi Holdings Inc., Novomatic Group, SuzoHapp, APEX Gaming, and Zytronic are at the forefront.

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Altenar celebrates Greek licence in landmark moment for business

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Leading sportsbook goes live with full multi-product offering across key market

Altenar, a leading sportsbook and iGaming software provider, has obtained a B2B licence in Greece, expanding its outreach across another established European territory.

The company, which already has an office in Athens, has secured a licence from the Hellenic Gaming Commission, boosting Altenar’s presence in the country and adding a Greek licence to its already comprehensive portfolio.

Altenar’s expertise reaches more than 50 countries where gambling is legalised and the Greek licence, which is valid for seven years, paves the way for the company to offer its services in a new jurisdiction.

Since the introduction of the new regulatory framework, online betting in Greece has emerged as a success story, with the country undergoing robust growth, as market data shows tax revenues expected to reach €540,000,000 this year and the creation of numerous job opportunities.

Marina Zacharopoulou, Compliance Manager at Altenar, said: “The process of obtaining a licence for Altenar was rigorous, albeit familiar due to our experience with similar procedures in other jurisdictions. While we encountered typical challenges along the way, we navigated them smoothly.

“Achieving a Greek licence holds special significance for Altenar, as a considerable portion of our team is Greek, making it feel like a homecoming. Personally, I believe that Greece’s historical connection to games of chance, evident in the popularity of gambling in ancient times and the presence of deities like Tyche, adds cultural resonance to our licensure.

“Securing our presence in Greece through licensure not only demonstrates our commitment to regulatory compliance but also positions us to capitalise on the country’s expanding market.”

The post Altenar celebrates Greek licence in landmark moment for business appeared first on European Gaming Industry News.

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BVGroup and Kaizen Gaming bring Betano to the UK

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BVGroup, in partnership with Kaizen Gaming, the global GameTech powerhouse, has launched the Betano brand in the UK. The unveiling of the Betano platform in the UK is the latest addition to BVGroup’s extensive track record of successful launches, representing a significant achievement for all involved while also further strengthening Betano’s worldwide footprint.

Kaizen Gaming has built a significant global presence in recent years including partnerships with multiple international leagues as well as European football clubs, with Aston Villa being the latest in a club record deal.

The launch is the most recent milestone in an ambitious year for the operator, with its premium brand Betano being Official Sponsor of both the CONMEBOL Copa America™️ 2024 and UEFA Euro 2024™. New customers even have the chance to join the excitement by winning tickets for the action in Germany. We’ve already given away some tickets to lucky England fans, but there are still more up for grabs!

Customers will enjoy a full range of our features, which includes Enhanced Accas, Bet Boosts, a highly responsive Bet Builder product and the recently released Lucky Dip.

BVGroup’s extensive suite of safer gambling tools will fully support customers and continue our commitment to responsible gaming initiatives. This includes Sentinel, an in-house player protection system that provides automated messaging and risk assessment. In addition, Betano holds the highest regard for the ethical and responsible provision of betting products while using the latest technology to provide a safe and secure environment for users.

It promises to be an exciting period, with Betano eager to make a substantial impression in the UK.

Julio Iglesias Hernando, CCO of Kaizen Gaming, commented: “Finding the right partner has been a top priority for us and this is exactly what we did with the well-established and reputable BVGroup.

“Betano has earned international acclaim for providing high-quality and entertaining betting experiences. This ambition is equally matched by BVGroup’s passion and expertise. Our foremost priority is to always engage with customers responsibly, ensuring their safety through strict regulatory compliance and cutting-edge technology. As we expand our footprint globally, we’re excited to unveil the Betano brand in the UK alongside BVGroup and are equally enthusiastic for what the future will bring.”

Brent Almeida, CCO of BVGroup, commented: “We are delighted to have partnered with Kaizen Gaming and launched its Betano brand in the UK market. This is the latest in a long line of successful launches for BVGroup.

“We’ve got some fantastic welcome offers available to new customers, and once signed up, they can expect plenty of innovative features covering all their favourite sports and casino products.

“We are confident that our technology and operating capabilities will give Betano customers a safe and entertaining gaming experience.”

The post BVGroup and Kaizen Gaming bring Betano to the UK appeared first on European Gaming Industry News.

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Wazdan signs deal with Casino777.es to secure further growth in Spanish market

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Wazdan, the gain-focused developer behind some of the world’s most rewarding casino game experiences, has strengthened its position in the Spanish market through a significant deal with Casino777.es, a leading Spanish operator.

The agreement sees Wazdan provide the operator with an initial batch of player-favourite titles, including 9 Lions™, Black HorseDeluxe, Choco Reels, Fortune Reels™ and Burning Stars 3™, with more releases expected to follow.

Casino777.es customers can also look forward to experiencing Wazdan’s popular special features that have proven to boost player engagement and retention, including the exciting Cash Infinity™ and Hold the Jackpot mechanics which offer massive win potential.

As one of Spain’s top-tier online casinos, Casino777.es boasts a substantial and growing player base. The addition of Wazdan’s feature-rich, visually impressive games is set to significantly enhance the operator’s slot portfolio and provide its customers with fresh, immersive iGaming experiences.

This partnership marks another milestone in Wazdan’s expansion strategy in Spain, where the provider has been steadily growing its presence since entering the market. The collaboration with Casino777.es solidifies Wazdan’s position as a leading supplier of innovative slot content in the country.

Andrzej Hyla, Chief Commercial Officer at Wazdan, said: “We are delighted to partner with Casino777.es, a prominent operator in the Spanish market. This collaboration allows us to further expand our reach and deliver our engaging titles to a wider audience of Spanish players.

“Spain has been a key focus market for Wazdan, and we are committed to strengthening our presence in the jurisdiction through partnerships with respected operators like 777es. We look forward to working together to provide players with the very best in online slot entertainment.”

César Paredes, Country Manager at 777.es, added: “We are excited to join forces with Wazdan to bring its innovative games to our platform. Its slot portfolio has already proven to be a hit with Spanish players, and we are thrilled to offer even more of its unique titles to our customers.

“With iconic Wazdan games joining our platform, we can deliver even more world-class casino entertainment to our players. This partnership reinforces our position as a leading provider of premium iGaming content in Spain.”

The post Wazdan signs deal with Casino777.es to secure further growth in Spanish market appeared first on European Gaming Industry News.

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