Slot machine is a casino gambling machine with three or more reels which spin when a button is pushed. Slot machines include a currency detector that validates the money inserted to play. The machine pays off according to patterns of symbols visible on the front of the machine when it stops. Modern computer technology develops variations on the slot machine concept.
Reconfigurable electronic gambling machines which can be reinstalled with new games will fuel growth of the global slot machines market
Softening of government regulations in terms of instalment of slot machines in several countries has provided an additional factor for growth of the global slot machines market. Slot machines are also considered to be one of the major revenue contributors for some of the countries including the US, Japan, New Zealand, Australia, UK and others, despite of strict government regulations. Other factors that help the rise of this market is the high number of employment opportunities, social welfare funding and high tax revenues; which compels the legitimization of slot machines in several countries.
One of the trend that is likely to gain momentum is the emergence of reconfigurable electronic gambling machines, which can be upgraded with newer games once a game loses its popularity. This trend will prove as a highly cost-effective measure for several casinos. Moreover, the tax revenues incurred from slot machines can be utilized for social welfare and development activities, which will further propel the growth of this market.
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However, there is an increasing demand for high-quality and progressive slot machines in these countries, which requires high capital cost for setting up manufacturing capacities. This is likely to hamper the growth of the global slot machines market in the coming years.
The global slot machines market report has been segmented on the basis of product application, product type, and region. The region covered, Asia Pacific, Europe, MEA, North America, and South America.
Amongst the various geographical segments, the slot machines market in North America is expected to hold a significant growth in terms of revenue in this region over the forecast period. Owing to generate the massive amount of international revenue and popularity of slot machines in this region.
Key players in the market includes Scientific Games, IGT, Aristocrat Leisure, Novomatic, Konami Gaming, Ainsworth Game Technology, Multimedia Games, and Universal Entertainment.