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Global online gambling market: $173.5 billion industry by 2018

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Global Casinos & Online Gambling - a new market research report on companiesandmarkets.com

 

PR-Inside.com: 2014-04-29 16:51:01
Since 2008, the center of the global casinos market and online gambling industry has shifted from the United States, specifically Las Vegas and Atlantic City, to China (i.e. Macau), and this trend is expected to continue. Propelling this shift has been the recent casino openings in Macau; as of 2013, there are 33 casinos.

Additionally, casino openings in other parts of Asia are expected in the near term. Singapore, with its two mega-casino developments, already has made a significant splash to the extent of rivaling Las Vegas. However, Chinese government activities, along with those of other Asian countries, limit domestic access to their casinos, and therefore, these casinos heavily rely on international and particularly VIP tourist gaming revenue.

Over the five years to 2013, industry revenue will increase at an estimated average annual rate of 2.4% to $132.9 billion, including expected growth of 3.2% in 2013. This growth will be supported by the continued rise of Asian gaming markets from the depths of the economic recession in 2009. However, established markets in the United States and Europe, particularly Las Vegas, will remain flat, as they have struggled to recover from the economic turmoil.

The performance of the Global Casinos and Online Gambling industry depends on macroeconomic conditions. For example, industry revenue is influenced by changes in consumer spending, consumer confidence and consumer traveling. When the general economy is strong, consumer spending, confidence and traveling all are typically on the rise, thereby increasing demand for brick-and-mortar and online casinos. As the global economy began to slowly improve beginning in 2010, demand for the industry started to rise.

Over the next five years, the opening of new offline and online markets will continue to spur growth as the global economy recovers. The new markets will increase gaming activities as governments seek greater access to money through gaming deregulation. For example, the United States is testing legalizing online gambling in Nevada. Other countries, such as Japan, are considering legalizing gambling. From 2013 to 2018, revenue is expected to grow at an annualized rate of 5.5% to $173.5 billion. Revenue gains will support a greater number of new entrants, resulting in the number of industry operators growing at an average annual rate of 2.1% to 5,008.

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