Author: roger
Like it or not, gambling - whether online, offline or out-of-line - is not going away. At least not before 2011 if a recent Pricewaterhouse Coopers LLP report proves to be accurate.
Gambling 101 (billion dollars, that is)
According to the widely anticipated Pricewaterhouse Coopers report released just last Thursday, worldwide gambling revenue is expected to climb from $101.6 billion in 2006 to $144 billion by 2011. This figure is calculated based on a compounding rate of 7.2% per annum and powered primarily by new casino launches and upgrades of existing ones in regions throughout the world.
US gambling revenues are projected to increase 6.7% per year, from $57.5 billion to $79.6 billion. The Asian Pacific region, fast becoming the world's second biggest casino market, can expect 15.7% growth from $14.6 billion to $30.3 billion.
UK Hard Hit by UIGEA
Online gaming operators in the United Kingdom are already experiencing growing pains and bracing for more as the US Department of Justice continues to crack down on financial institutions facilitating payments to and from online casinos. The guidelines spelling precisely how the Unlawful Internet Gambling Enforcement Act (UIGEA) will be enforced are expected to be made public next month.
Lawful casino and Internet-based gambling revenue in the region including Europe, the Mideast & Africa is expected to grow 1.9% per year to $27.8 billion from $25.2 billion. The report also foresees that restrictions on sports wagering, plus new licenses, shall have adverse affects on European sports betting overall.
In the USA, Nevada's gambling revenues are slated to grow 7.5% per year to $18.2 billion. New Jersey's Atlantic City - on the other hand - can expect revenues to drop 0.1% annually to $5.2 billion. While Nevada's growth is expected to come as a result of new casinos being developed in Las Vegas, the report predicts New Jersey's gambling sector will be adversely affected by the availability of slot machines in the neighboring State of Pennsylvania.
Native Land Casinos
By 2011, America's Native Indian casinos are expected to generate some $36.5 billion, up 7.6% a year from $25.3 billion in 2006. Regional US casinos beyond Atlantic City and Nevada - and not including tribal casino venues - are projected to increase 6.6% per year to $19.5 billion, while sports betting will see an annual growth rate of 5.8% to $255 million.
Canada's gaming revenues are slated to rise from $4 billion to $5.9 billion, and Latin America's revenues are expected to increase to $495 million from $278 million.
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About the Author:
Roger is an award-winning online casino games reporter and avid player credited with identifying the
best online casinos.