The popularity of skill and mobile games has grown tremendously over the last two decades. More recently, the market received another boost as the public looked for an escape from COVID-19 lockdowns. Total gaming revenue is expected to rise from $227 billion in 2023 to $312 billion in 2027, representing a 7.9% CAGR, according to PwC’s Global Entertainment & Media Outlook. Advertising revenue is also projected to nearly double by 2027 and could reach $100 billion by 2025. In 2023, gaming audiences in the U.S. spent an average of $19.56 on video games per month, according to Statista. Over 227 million people in the U.S. play video games for one hour to a few hours per week. Approximately 74% of U.S. households consist of at least one member who plays video games and roughly 76% of Americans under 18 and 67% of adults play games. Newzoo projects that consumer spending on games will grow to $218.7 billion by the end of 2024, as population increases, technological advances, and swifter internet speeds help build the industry up. More than 70% of the 100 casinos surveyed reported that they plan to integrate skill-based games in the future, according to a survey by Synergy Blue. In addition, 67% of respondents cited their aim for offering skill games was to appeal to a younger generation of gambler as they tend to be more immersive. Meanwhile, 19 of the 26 mobiles apps that reached $1 billion in lifetime revenue in 2023 were games, according to data.ai, including some familiar names Games Industry Overview 34 Sponsored by Casino City’s iGaming Pocket Directory games
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