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PricewaterhouseCooper's latest study on the gambling industry
December 8, 2011 : Asia will play a leading role, and should not ignore the possibilities of online gambling
PricewaterhouseCooper's latest study on the gambling industry underlines the growing revenue contributions to global growth represented by Asian operators, and has therefore been attracting wide mainstream media coverage in the region this week.
The study observed that Asian governments may be well-advised to license and regulate the online gambling industry instead of ignoring the growing number of online punters worldwide looking for internet action.
The depressing international economic crisis, straining public finances, made such an approach imperative, it suggested.
"With governments now facing severe fiscal constraints and eager to replenish their coffers, their attention has been caught by the potential of legalised and licensed online gaming services as a valuable source of tax revenues," the study noted.
"There is also a strong argument that, since consumers will engage in illegal online gaming anyway, it is better to license and tax it than to allow the revenues to go to unlicensed operators."
Singapore in particular has rapidly become one of the fastest growing casino gaming markets in the Asia-Pacific region, which is tipped to overtake the United States in 2013 to become the world's largest region for land casino gaming.
Gaming revenue in Asia-Pacific, the PwC report projected, will grow from US$ 34.3 billion last year to US$ 79.3 billion in 2015. It also estimated that revenues from the two integrated Singapore casino resorts will jump from US$ 4.4 billion this year to US$ 7.2 billion in 2015.
Online gambling is currently outlawed in Singapore, although Singapore Pools allows punters to place lottery or sports bets via telephone using pre-paid accounts.
"There is tremendous growth in online gaming, especially in poker", said gaming analyst and economist Jonathan Galaviz, who feels that Asian governments should focus on such growth opportunities.
He suggested that it was time for governments in the region to research the possibilities in order to be sufficiently well-informed to make the right calls in a promising market.
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Gambling News :
Phil Ivey Loses Borgata Casino -
Phil Ivey has lost in his four-year legal tussle with the Borgata over baccarat winnings; on Friday a US federal judge ruled that he and a companion violated New Jersey state gambling regulations in the manner in which they won nearly $10 million playing at the Atlantic City casino.
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Playtech Acquires ECM Systems -
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The Cambridge News reports that a 28-year-old manager of a Marks and Spencer store, Martin Trenor, has been jailed for three years for stealing GBP 254,538.11 in shop takings over the course of a year and spending it almost immediately at online gambling websites.
Chinese Gambling crackdown could damage high roller revenue -
Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.
EvenBet Open Face Chinese Poker -
Open Face Chinese Poker online games provider EvenBet has reported that its Open Face Chinese Poker product is gaining traction with games recently integrated for desktop action at the Malta-licensed operational site Poker Grant.
2016 EPT Malta -
The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.
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