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Fri, Jun 22, 2007 - Page 10 News List

Gambling revenue on the rise, says report

GAME OF CHANCE Global revenue is forecast to post rapid growth, driven by new casinos and upgrades of existing casinos, says PricewaterhouseCoopers

AP , LAS VEGAS

Punters try their luck with electronic dealers at a gaming Expo in Macau on June 12. Global gambling revenue is forecast to rise at a compounded annual growth rate of 7.2 percent through 2011, a PricewaterhouseCoopers report released yesterday said.

PHOTO: AFP

Global gambling revenue is estimated to hit US$144 billion in 2011 after growing at an annually compounded rate of 7.2 percent a year, a PricewaterhouseCoopers LLP report released yesterday showed.

Gambling revenue is expected to rise from US$101.6 billion last year, driven by new casinos and upgrades of existing casinos in all regions of the world, the report said.

Revenue in the US is expected to grow 6.7 percent a year to US$79.6 billion from US$57.5 billion, while in the Asia-Pacific region it is forecast to grow 15.7 percent annually to US$30.3 billion from US$14.6 billion, becoming the world's second-largest casino market.

Legal casino and online gambling revenue in the region encompassing Europe, the Middle East and Africa is expected to rise 1.9 percent a year to US$27.8 billion from US$25.2 billion.

Gambling revenue in Canada is seen rising to US$5.9 billion from US$4 billion, while in Latin America, revenues are expected to climb to US$495 million from US$278 million.

Strict regulations banning the transfer of funds between gambling sites and US residents are expected to have an adverse affect on UK-based online operators, while a mix of sports betting restrictions and new licenses will hurt sports betting in Europe overall, the report said.

In the US, Nevada revenues are projected to grow 7.5 percent a year to US$18.2 billion, but Atlantic City, New Jersey, revenues are forecast to slip 0.1 percent a year to US$5.2 billion.

While new projects in Las Vegas are seen driving Nevada growth, the report said New Jersey's gambling hub would be hurt by the availability of slot machines in nearby Pennsylvania.

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