July 1st, 2023: We all know gambling is a fast-growing industry. After suffering a hit because of the pandemic, the global casino industry has made a slow crawl to recovery, and it’s now more robust and profitable than ever. But have you ever wondered which among our top casinos and gambling operators are raking the big bucks and attracting attention and support from casino players and enthusiasts?
Well, worry no more since a new survey has been released detailing the most profitable casinos for 2022. According to a Research and Markets report, the global gambling market will be worth $449 million in 2022, and it’s expected to grow at a compound annual rate of 6.6% and could hit $847.5 billion by 2032. But going back to our question- which casinos are the most popular and profitable last year?
According to Insider Monkey, Venetian Macao is the world’s most profitable, with an annual net income of $1.83 billion, followed by the Marina Bay Sands, banking almost the same amount.
The Venetian Macao and Marina Bay Sands lead the way
The Venetian Macao is the latest venture from the Las Vegas Sands, and it’s based in Macao at the famous Cotai Strip. It remains one of the most successful casinos in the world and a real gem in the Las Vegas Sands portfolio. It’s the second-largest casino in the world and the tenth-largest building by floor area. The casino section has four themed gambling areas to enjoy your favourite slot machines and gambling tables. Marina Bay Sands, on the other hand, is another popular gambling destination located in Singapore. Last year, this casino facility earned $1.83 billion. The Marina Bay Sands boasts a mall, a museum, a theater, celebrity chef restaurants, and of course, the world’s largest atrium casino with 1,600 slot machines and 500 gambling tables.
Las Vegas casinos are lucrative, too
Next on this list are the famous casinos and resorts in Las Vegas, Nevada. The Aria Resort & Casino in Las Vegas ranks third with a net income of $1.74 billion. Aria is a luxury casino and resort owned by Blackstone Inc and operated by MGM Resorts. Aside from its casino, the Aria also features the only performance theater in the CityCenter until it was closed for renovation to pave the way for expansion. Bellagio is another profitable casino in Las Vegas and globally, with a net income of $1.74 billion. Rounding up our top five list of profitable casinos is the MGM National Harbor, with an annual net income of $1.11 billion.
Insights from the survey
According to the survey by Insider Monkey, the casinos’ locations depend on gambling laws and tax rates. The two biggest gambling countries are China and the United States, but the US offers a more flexible and friendly gambling law. Casinos in China can only be found in Hong Kong and Macao. Most of the top casinos in the US are located in Las Vegas.
Aside from the US and China, the European gambling market is growing fast, too, especially in the UK. The Guardian estimates that the regulated UK gambling market was valued at GBP 9.07 billion in 2021, bigger than that of the US.