The last few years have seen significant changes in the way people travel. Since the coronavirus pandemic almost four years ago, the price of trips abroad has shot up and people are less inclined to part with their hard-earned cash unless the right trip for them rears its head. But in the world of global tourism, few sectors boast the allure, intrigue, and to some extent, mystery, of the casino industry.
Casino tourism is designed to attract visitors from all over the world to visit the best casinos from all around. The bright lights, high stakes, and camaraderie make it an ideal trip for a stag do weekend away, or a boys’ trip. However, the casinos aren’t exclusively reserved for these groups, with couples enjoying a visit to the likes of Las Vegas just as much as your average punter.
Not everything runs like clockwork in the world of casino tourism though. There are many factors to consider for things to keep ticking over and a range of economic factors across different industries to ensure tourist trips are a success. Read on, as we take a look at some of the key factors that are currently influencing the economics of casino tourism.
Job creation
A night out in Las Vegas is very much a well-oiled machine behind the scenes. Tourists will visit from across the world to experience a plethora of Sin City’s best. From Caesars Palace to the MGM Grand, even the biggest online casinos in the UK won’t offer the allure of a Vegas or a Monte Carlo, and that’s down to the number of staff employed to make everything happen.
From the dealers confidently shuffling cards to the stunning cocktail servers dressed in smart garments gliding through the casino floors, job creation is at the very heart of the casino tourism industry. There is a massive demand for skilled customer service, especially in the United States where tipping culture is so prominent, but aside from front of house there is also a wider spectrum of careers, encompassing roles such as croupiers, pit bosses, security personnel, entertainers, and other hospitality staff.
Other industries will benefit from casino tourism’s economic growth. The more money made, the more support is handed to the likes of transportation, retail, and event management within the hotels and casinos, with everyone benefiting from the flurry of new visitors, creating additional job opportunities and fostering economic growth within the community.
Rise of online Casino
Believe it or not, the growing popularity of online casinos is not necessarily a bad thing for land-based venues as it expands the reach of a lot of games.
While some bettors prefer the comfort of their own homes – now aided by bespoke editions of traditional games like roulette and blackjack, complete with language preferences for dealers and personalised display layouts for added immersion – players still like the thrill of an in-person casino, and many first-time visitors will have been influenced to come by their experiences online.
There are also a range of new players getting into casino that are extremely wealthy bettors. The rise of crypto casinos and blockchain games, as well as influencers like Drake placing large stakes on both sports games, roulette and poker, will entice a range of players looking to get a taste of the action for the first time.
Players will also feel more confident from playing online and be more inclined to spend money, knowing all of the rules to games straight away and with slot games accessible in land-based venues, there is something for tourists that still prefer a digital screen to the classic cloth table.
Licences and regulation
Casino tourism opens its doors to a wider variety of countries than just the conventional trips to the United States, more countries across the world are gradually welcoming the casino gaming industry and opening new casinos.
Amongst the new wave of opportunity for global casino tourism, including an uprise of users in Africa and Asia, is the emerging Latin American market, particularly in Brazil which has just been regulated.
In December last year, Brazil’s chamber of deputies voted to regulate gambling, with iGaming included. While it’s too early to call, this could perhaps serve as a watershed moment for the industry, with the LatAm market, in particular, one of the hottest topics in 2024 due to the untapped potential of the region and the size and spectrum of a nation that has a population of almost 215 million people.
The stunning beaches make an optimal space for casinos to be built in the future, and a nation fixated on sport is bound to garner the attention of global operators, as well as visitors from across the world who would be interested in making the trip.
Only time will tell how much spending and investment from gambling companies goes into exposure within the nation, but it looks like an ideal place for a long trip for casino aficionados looking to visit Brazil’s biggest casino – the Gavea Hippodrome.
Overall, the economics of casino tourism present a multifaceted tapestry of opportunity and challenge, shaped by an array of different factors. While the allure of casinos is undeniable, it requires a large team to function successfully and a lot of people have to be on board to keep the ship sailing – something that will become even more apparent as popularity grows.
