Global gambling revenue to increase to $155 billion annually

Global gambling revenue to increase to $155 billion annually According to a PricewaterhouseCoopers LLP report released today, the global gambling revenue is expected to reach $155 billion annually by the year 2012. According to the report, global gambling revenue will increase by a compounded rate of 6.5% each year, from the $114 billion in 2007 to $155 billion in 2012, mainly thanks to new casinos and upgrades to existing ones. Asia Pacific region was named as the fastest growing by PricewaterhouseCoopers, predicting gambling revenue for the region of $37.2 billion in 2012, compared with $18.3 billion in 2007 or 15.2% annual increase.

The United States is expected to remain the leader in gambling revenue by region, although the growth would be much less, estimated at $73.3 billion in 2012 from $60.3 billion in 2007 or just 4% annually. The report is forecasting tough times for the U.S. casinos in 2008 and 2009, due to the increasing fuel prices and sluggish economy, although the report predicts a turnaround for Nevada starting in 2010, with revenues expected to reach $14.8 billion in 2012 from $12.8 billion in 2007, an increase of 2.9 percent per year and Atlantic City was seen generating $4.74 billion in 2012, down from $4.94 billion in 2007. The PricewaterhouseCoopers 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. Casinos in the region encompassing Europe, the Middle East and Africa are expected to increase their gambling revenues by 4.9% a year from $30.3 billion in 2007 to $38.4 billion in 2012

Published on 06/18/2008