Gambling revenue to surge to $144 billion
A report released today by PricewaterhouseCoopers LLP estimates that the global gambling industry is set to be worth as much as $144 billion in 2011 following an annual compounded growth rate of 7.2 per cent.
According to the report, the rise in value of the industry, which is currently worth $101.6 billion, will be mainly driven by the wave of new casinos being developed across the world and the upgrading of existing casinos.
The Asia/Pacific region will be the main driving force behind the increase, led by the thriving Chinese resort of Macau. Revenue is expected to rise from $14.6 billion to $30.3 billion, a 15.7 per cent increase.
Revenue in the U.S will grow 6.7 per cent a year from $57.5 billion to $79.6 billion, maintaining its status as the world’s largest casino market. Revenues in Nevada are anticipated to grow 7.5 per cent year-on-year to $18.2 billion. However, gambling revenue in Atlantic City, N.J, will see a small drop of 0.1 per cent a year to $5.2 billion, mostly due to the new slot machines that have become available in nearby Pennsylvania.
Gambling revenue in the regions of Europe, the Middle East and Africa will see a small increase of 1.9 per cent, rising from $25.2 billion to $27.8 billion.
However, a combination of the U.S’s crackdown on internet gambling and rigid gambling laws across Europe will hurt sports betting in the region, particularly British-based online operators. Sports betting in general is projected to see a rise of 5.8 per cent a year to $255 million.
Editor, Jackpot.co.uk - 2007-06-21 10:59:59