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World Gambling Revenue Forecast By 2012
According to a study, world gambling revenue forecast of $155 billion will be reached by 2012. It is a considerable increase from the annual revenue today. A study completed by international auditing group PricewaterhouseCoopers, released in June, has predicted that annual global gambling revenue will top US$155 billion as early as 2012. The report, released annually by PWC, cited the establishment of new casinos and upgrades as a major factor in the expected increase in revenue from $114 billion in 2007. The Asia-Pacific region was identified as the fastest growth market, with new casinos in the Chinese Special Administrative Region of Macau, as well as in Thailand and Singapore, spurring a growth in revenue of 15.2% annually. By 2012 the Asia-Pacific region should account for $37.2 billion in gambling revenue, or around 24% of global gambling revenue, compared to $18.3 billion in 2007, or 16% of global gambling revenue. Despite the report’s prediction of a decline in revenue in American gambling hotspots Las Vegas and Atlantic City due to declining economic conditions, the report concluded that the USA would still lead the field in annual gambling revenue - up to $73.3 billion in 2012 from $60.3 billion in 2007. Europe, the Middle East and Africa, defined as one region by the report, are expected to experience a 4.9% increase in annual revenue on the back of new casinos and licenses for online gambling and sports betting in the region. This should see an increase from $30.3 billion in 2007 to $38.4 billion in 2012. Canada will see a jump from $4.6 billion to $6.2 billion, while Latin America, a mere blip on the radar in gambling terms, will rise from $297 million to $514 million. |
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