Global Gaming Outlook 2024
New York (December 6, 2023) — Fitch Ratings’ neutral outlook for global gaming in 2024 reflects a slight pullback from the pent-up demand seen in the U.S., especially in Las Vegas, a continuation of improving visitor demand in APAC driven by the continued return of the mass market, and limited regulatory headwinds in EMEA with issuers in that region benefiting from the ramp-up of U.S. online profitability.
Performance across region should vary given the different recovery stages from the pandemic in each region. Performance in the U.S. remains strong following a robust 2022, although there are signs that regional gaming might be slowing in some markets. Las Vegas continues to surpass previous gaming revenue records, but could decline in 2024 as the impact of pent-up demand fades and the customer mix changes to more non-gaming customers.
All eyes will be on Macau in 2024, as visitation continues to grow against a backdrop of a weakening China economy. Singapore continues to perform above expectations as customer growth diversifies outside of China.
The UK Gaming Act review will likely be implemented over the medium-term, which should reduce regulatory risks in 2024 for EMEA companies. In the meantime, those with exposure to the U.S. online and sports betting market should benefit from increasing profitability in that sector.
SOURCE: Fitch Ratings.