As in the tourism and travel businesses, expansion in casino gaming during the upcoming few years seems to become driven by growth in the Asia-Pacific. Here is the film put out from ‘Playing to Win’, a new report by PricewaterhouseCoopers International (PwC) that looks at trends in the casino and online gaming industries.
The small worldwide drop in casino gaming in 2009 (2.8 percent) hidden enormous regional variations. From the EMEA [Europe, Middle East, and Africa] marketplace, there has been a recession of 12.2 percent in casino gaming, along with the U.S. market dropped by 3.4 percent. Spending from the U.S. and EMEA has dropped for the 3 consecutive years to 2010, also will trend up just incrementally in 2011.
By comparison, Asia-Pacific (which overtook EMEA since the second-largest international place for casino gaming earnings in 2008) continue rising by 7.4percent in 2009, then climbed by almost 50 percent in 2010. From 2014 the report forecasts the Asia-Pacific casino gaming marketplace is going to have almost caught up with all the U.S. in total revenue, reaching 92 percent of U.S. spending as well as being just one-third of the magnitude of the U.S. marketplace in 2008. Latin America can be set to see strong growth.
One of the markets that continued to grow nicely in Macau. Projects stopped throughout the credit have restarted, and earnings are predicted to rise by 50.1% in 2010, accompanied by continuing double-digit increases during the forecast period to 2014.
Singapore is currently starting as a gaming center, which is talk of the casino gaming market is predicted to leapfrog Australia and South Korea are the 2nd biggest in the Asia Pacific supporting Macau.
PwC is casting Singapore casino earnings to reach US$2.8 billion (S$3.7 billion) in 2010 and using a complete year’s performance for both incorporated hotels in 2011, earnings are predicted to achieve US$5.5 billion, rising to US$8.3 billion by 2014.
PwC Singapore’s Tech, Infocomm, Entertainment & Media Industry Leader – Greg Unsworth – stated: “Singapore has created a dramatic entrance into the casino gaming market together using both incorporated resorts.”
Also doing well from the Asia-Pacific is that the Philippines, in which completion of this 15 billion Manila Bay hotel in 2013 will improve earnings.
The U.S. recovers gradually
Increased economic conditions are predicted to activate a comeback in U.S. gaming earnings in late 2011, even though 2007 gaming earnings levels won’t yield until 2012. Nevada revenues are not predicted to reveal yearly growth till late 2011, and it could be 2014 till earnings here yield to 2007 amounts.
PwC states: “Las Vegas is now hunkered down to get a comparatively slow recovery because experience indicates an upturn in holidays to casino gaming facilities will lag about 12-18 weeks supporting a rally in the market.”
However, PwC also stated: “As the global economy recovers, and global traffic return alongside domestic traffic, Nevada has been placed to capitalize on the upturn compared to Atlantic City, because Nevada is not as influenced by competition from regional casinos.”
“This implies Nevada ought to have the ability to absorb the new capability and begin to rebound, after the savings and disposable income enhances,” PwC explained.
Atlantic City is your sole U.S. casino center at which the report indicates earnings in 2014 will likely be less compared to 2009. The area is heavily influenced both by the economic recession and competition from regional casinos from Pennsylvania and New York.
Growing online and mobile gaming
The PwC report indicates that there’ll be a boom in mobile and online gaming revenues within the upcoming few decades, especially in the Asia-Pacific. The marketplace, however, is complicated with distinct regulatory regimes across the Earth, and frequently ambiguous regulations and laws. The report claims that although involvement in online gaming is prevalent throughout the Asia Pacific, it’s prohibited in nearly all nations.
The present laws and regulatory frameworks split mobile and internet gaming into six places: (1) Online casino gaming, (2) Internet poker rooms, (3) Online bingo halls, (4) Online gaming on horse races, and (5) Online gambling on other sports betting including soccer and basketball, and also (6) Online lotteries such as đánh lô đề online K8.
The report forecasts that online poker is going to be legalized in the united states over the next 2-3 decades, but online sports gaming – in which there’s a buoyant economy in a lot of Europe – is not likely to make much headway in the U.S.