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Gambling To Grow 9.2 percent per annum
Friday September 13,2013 : NEW NUMBERS ON GLOBAL CASINO REVENUES
Compound annual growth rate in revenues of around 9.2 percent p.a. predicted
A new study by researcher Companies and Market predicts that the global casino gaming industry will achieve a compound annual growth rate in revenues of around 9.2 percent per annum, with the fastest growth coming from Asia Pacific (18.3 percent) and Latin America (8.1 percent).
The US gambling market is expected to grow at 5 percent per annum, and the majority of the growth is expected from regional casinos, while Nevada is expected to grow slower than the overall US market.
The study estimates global revenues will reach GBP110 billion (US$174 billion) by 2018.
The global gambling market has been continuously dominated by casinos and lotteries, the researcher notes, with each category contributing 34 percent and 29 percent respectively, of the total gambling revenues in 2012.
Online gambling legalisation in the US states of New Jersey, Delaware and Nevada, with potential for other states to follow, is listed as a possible contributor to overall growth.
The casino gaming sector witnessed delays and postponements in expansion projects as well as new gaming ventures during the recession, displaying the gaming industry's high sensitivity to economic downturns, the research company notes.
Though the market is currently exhibiting signs of revival in certain countries, the challenges set by a wavering US recovery and the Eurozone debt crisis continues to undermine the overall growth in casinos markets in these countries but not Asia.
Market progress in the USA and the European Zone over the near term is expected to remain slow and could take some time before it achieves the previous highs recorded during the pre-crisis years, Companies and Markets opines.
There are almost 900 land casinos in the United States, with that number steadily growing as more states seek to legalize casinos. 38 states now have some form of casino gambling.
Across the US and Canada, casino and card room gaming accounted for 46 percent of total North American gaming revenue, lotteries for 24 percent, tribal gaming for 27 percent, and race and sports wagering for 3 percent.
The study identifies the Top 10 regional casino markets as:
1 Macau (33 casinos)
2 Las Vegas (122)
3 Singapore (2)
4 France (1)
5 Atlantic City (12)
6 Australia (11)
7 South Korea (17)
8 Germany (76)
9 South Africa (4)
10 United Kingdom (141)
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