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Mexico is quickly reshaping its gambling industry. Mobile and online betting are gaining ground fast, while traditional casinos face rising costs and tighter margins.
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Astute Analytica projects the country’s gambling market to grow from $11.37 billion in 2024 to $40.64 billion by 2033. That equals a compound annual growth rate of 15.71 percent. The pace positions Mexico as a major global player in the betting space.
Revenue from land-based casinos fell by 5 percent in 2023, reaching $1.4 billion. Properties in Mexico City and Monterrey saw an 8 percent drop in average earnings per venue. Meanwhile, operators dealt with a 12 percent increase in labor costs, adding pressure to their bottom lines.
Despite the overall decline, some casinos performed well. Grupo Caliente boosted VIP table revenue by 14 percent at its Tijuana Hippodromo Casino. Slot machines remained dominant, generating 78 percent of all land-based casino income.
Online gambling now leads the charge. Analysts expect iGaming to bring in $1.4 billion in 2024. Smartphone adoption fuels this growth—82 percent of the population uses mobile devices, and monthly 4G plans cost only $8.
Operators are exploring new technologies. Some platforms have started using blockchain, and virtual reality tools are gaining interest. Federal regulators are still reviewing cryptocurrency use in gambling, with policy updates expected soon.
The Dirección General de Juegos y Sorteos (DGOJ) manages gambling regulations in Mexico. The Federal Gaming and Raffles Law (LJRS) requires operators to maintain $2 million in audited capital and apply geoblocking tools to avoid cross-border bets.
Tax rules vary across states. Jalisco charges a 7 percent gross gaming revenue tax. Quintana Roo waives taxes for integrated resorts to promote tourism.
In 2023, the Financial Action Task Force (FATF) reviewed Mexico’s anti-money laundering controls and pointed out several issues. Regulatory approvals often take 12 to 18 months. When companies fail to comply, they risk fines of up to $1.5 million.
Illegal operations continue to affect the licensed market. In states such as Guerrero and Mexico, underground gambling costs regulated businesses around $450 million per year.
Codere and Grupo Caliente remain industry leaders. Both companies are investing in physical locations and expanding online platforms to stay competitive in the evolving market.