The COVID-19 pandemic-led restrictions proved to be a massive hurdle for the casino & gambling industry, as physical casinos were forced to remain closed. However, companies providing online gambling services were able to generate significant returns. Along with rising demand for online gambling, the reopening of physical casinos with fast-paced vaccinations should drive the industry’s growth in the upcoming months. According to Research and Markets, the global online gambling market is expected to reach $112.09 billion in 2025, growing at a CAGR of 12%.
Moreover, New York Governor Kathy included a plan to bring legal casino gambling to New York City's $216.3 billion budget proposal. In addition, the State Gaming Commission recently launched legal, app-based sports betting across the Empire State. With the increasing legalization of gambling across the country, many companies operating in this space are well-positioned to benefit.
