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WORLD GAMBLING REVENUES TO TOP $155 BILLION BY 2012
The international business services and auditing group PricewaterhouseCoopers LLP has completed a study showing that global gambling revenue should pass the $155 billion mark in 2012 after growing at an annually compounded rate of 6.5 percent per year.
New casinos and upgrades will push gambling revenues from nearly $114 billion in 2007, the study found, with the Asia Pacific region showing fastest growth with new resorts in the Chinese enclave of Macau as well as Singapore and Thailand generating increases of 15.2 percent annually.
Revenue from the Asia Pacific region will hit $37.2 billion in 2012 compared with $18.3 billion in 2007.
In the United States, total gambling revenue should remain well ahead of other regions, growing at 4 percent annually from $60.3 billion in 2007 to $73.3 billion in 2012, the study found. However, the years 2008/9 would carry tough economic conditions, impacting the Nevada and Atlantic City land business and causing declining revenues in those years.
Mary Lynn Palenik of PricewaterhouseCoopers said the mortgage crisis and high gas and travel prices will lead to the decline. US players were less likely to travel to land casinos due to pressures on disposal income.
The turnaround is predicted for 2010 in Nevada, with revenues expected to reach $14.8 billion in 2012 from $12.8 billion in 2007, an increase of 2.9 percent per year. Atlantic City should be generating $4.74 billion in 2012, down from $4.94 billion in 2007.
The study includes a reference to online gambling, including this with new [land] casinos in Europe, the Middle East and Africa as the driving force behind increased revenues in the regions which will grow 4.9 percent a year from $30.3 billion in 2007 to $38.4 billion in 2012.
Gambling revenue in Canada is seen rising to $6.2 billion from $4.6 billion, while in Latin America, revenues are expected to climb to $514 million from $297 million.
The report said revenue from U.S. tribal casinos would increase to $33 billion in 2012, up 4.5 percent per year from $26.5 billion in 2007.
Regional U.S. casinos outside of Nevada and Atlantic City, not including tribal casinos, were seen gaining 5.3 percent a year to $20.6 billion, while global sports betting was seen rising 7 percent per year to $7.6 billion in 2012.
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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.
NYX Gaming in deal with Endemol -
"Endemol Shine’s IP will be a strong addition to the NYX portfolio of content and we look forward to working together to bring additional instantly recognizable brands to market.”
NEW CAMBODIAN GAMBLING LAWS -
After more than two years of debate and drafting, Cambodia may be closing in on final agreement regarding its proposed gambling law changes.
Playtech Acquires ECM Systems -
Online gambling soiftware provider Playtech plc has announced the acquisition of a ninety percent stake in UK bingo software developer ECM Systems for a consideration of GBP 14.9 million.
Marks and Spencer store Manager steals to Gamblie Online -
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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