As esports and competitive gaming continue to grow, the casino industry has taken notice and gaming companies are looking to get in on the action. The recent announcement of the CEC Live! (Casino Esport Conference) coming to California’s Agua Caliente Resort Casino Rancho Mirage in March 2024 shows just how big the industry has grown and how casinos are looking to position themselves among fans.
The conference is part of a growing trend. The three-day event will be open to the public and includes immersive experiences combining esports, virtual reality, augmented reality, table games, emerging technology, and new entertainment.
“We are proud to host CEC Live! 2024 at Agua Caliente Casino Rancho Mirage,” Agua Caliente director of marketing Pearl Aguinaldo, Sr. said. “This revolutionary event will allow us to not only connect with our esports guests on a deeper level, but keep us ahead of the curve on technology and innovations so we can truly offer something for every individual. We look forward to welcoming everyone and seeing how this event helps push us to that next level.”
More Esports Mixed with Casino Gaming
Esports and video gaming have experienced explosive growth in recent years with an estimated 532 million fans worldwide regularly watching game play and competition on sites like Twitch and YouTube.
That audience is expected to grow almost 20 percent by 2024. The prevalence of mobile phones, tablets, personal computers, and gaming consoles have fueled the surge, with games of various types and themes easily available for players of all ages. The number of casual gamers has also increased in recent years, with 2.8 billion active gamers now around the world.
Major esports competitions continue to grow with some players even making a living in competitions and earning money via online streaming and sponsors. The casino industry is seeing those numbers and looking to get on board.
That has included more skill-based and interactive games tailored toward generations of video game players, such as fish table games. CEC! Live is expected to offer a look at the connection between esports and casino gaming.
“We are thrilled to partner with Agua Caliente Casinos for CEC Live! 2024,” CEC Live! co-founder Ben Fox said. “Agua Caliente Casinos are leading the way in the integration of esports into the casino industry. We are excited to showcase their progressive approach to this emerging market at our event.”
The announcement of the Agua Caliente event isn’t the only CEC Live! on the calendar in the coming months. Another CEC event is set for Oct. 18-19 at Resorts Casino in Atlantic City and another event is set for Las Vegas sometime in 2024.
A Booming Industry Attracts Interest from Gaming Companies
Just a few years ago, many Americans may have thought that watching others play video games online or in a live setting seemed like a joke. But many are treating esports like real sports, watching some of the best challenge each other in some of the most popular video games.
Business Research Insights reports that the global esports market was more than $9.7 billion in 2021 and was expected to rise to $24.2 billion by 2028. That’s a compound annual growth rate of 13.7%.
That’s a statistic that the gaming industry is taking note of and events like CEC show how slot makers and software developers are hoping to harness some of that growth in gaming. And just like sports, some gaming companies have begun allowing bettors to wager on these competitions.
Another recent survey by Absolute Reports shows that the past years only fueled the industry’s growth and bettors’ interest in gambling on game outcomes. The group’s research estimates the global esports betting market at $10 billion in 2021 and growing to $23.8 billion by 2028. Absolute Reports notes that the top players are concentrating mostly on technical developments in order to increase efficiency.
“The long-term growth patterns for this market can be taken by continuing the current development progresses and financial strength to participate in the best strategies,” the study says.
The study notes that some of the bigger players in the industry could see significant growth in this gaming segment in the coming years, singling out companies like William Hill, GVC Holdings, Kindred Group Betsson AB, Bet365 Intertops, and numerous others.
Esports wagering is legal in Arizona, Colorado, Connecticut, Kentucky, Louisiana, Maryland, Massachusetts, Nebraska, Nevada, New Jersey, Ohio, Tennessee, Virginia, Washington, West Virginia, and Wyoming. More states may get on board in the coming years.
The industry also continues working to attract esports enthusiasts by hosting gaming options more fitting to this segment. Major casino resorts are also hosting more esports gaming experiences as well, such as the HyperX Esports Arena located right on the Las Vegas Strip at the Luxor Casino.
