Gambling

Casino Industry in New Zealand: Market Size and Trends 2024-2029

Published

4 months ago

July 11, 2024

Admin

Market Size and Trends 2024-2029

Expected is that international brands will continue to launch their brands in New Zealand whilst the market will also open up to domestic gambling operators in the next few years.

The New Zealand casino market is therefore projected to grow to a total value of NZD 3.1 billion by 2029, with a CAGR of 5.2% over the forecast period. This growth will be driven by advancements in technology and favourable regulatory changes.

●Expansion Of Online Gambling: The online gambling sector is expected to see significant growth, potentially capturing 60% of the total market by 2029. Innovations such as mobile gaming apps and the interactivity delivered by live dealer games will make online casinos the first sought after option for casino games, even before the country land-based casinos that are expected to focus on other forms of leisure such as food & dining, music events and other entertainment.

●Regulatory Adjustments: Anticipated regulatory changes will likely provide a more structured and safer environment for online gambling, enhancing player confidence and market stability. Industry experts have appealed for regulating iGaming in the country to offer better player protection on the one hand and get the most out of this billion dollar industry via taxes and other financial contributions.

●Land-Based Casinos: Brick and mortar casino venues are expected to maintain steady growth, contributing around 40% of the total market value by 2029. The country’s biggest casino operator, SkyCity, has been under siege due to disputes with the country’s Department of Internal Affairs (DIA) and Australia’s gambling authority Austrac, and will need to stabilise its activities in order to do so.

●Lotteries: Continuing to be a significant contributor in the country, with modest growth expected over the forecast period. Lotteries in other countries have quickly moved from physical sales to online sales and will need to use technological advancements in their favour to move along with consumer’s changing preferences.