This article was originally distributed via PRWeb. PRWeb, WorldNow and this Site make no warranties or representations in connection therewith.
SOURCE: IBISWorld 3
Despite a minor hiccup in 2009 when the global economy suffered, the Global Casinos & Online Gambling industry has fared well in the past five years. Strong growth will continue as more casinos open in China and Singapore, among other Asian countries. While established markets have reached maturity and have less room for revenue growth, they will still perform strongly and benefit from a recovering economy. For these reasons, industry research firm IBISWorld has updated a report on the Global Casinos and Online Gambling industry in its growing industry report collection.
Los Angeles, CA (PRWEB) November 26, 2012
Since early 2008, the center of the Global Casinos and Online Gambling industry has progressively shifted from Las Vegas and Atlantic City to Macau in China and this trend is expected to continue. Propelling this shift has been the recent casino openings in Macau; additionally, casino openings in other parts of Asia are expected in the near term. Singapore, with its two mega-casino developments, has already 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 are highly reliant on international and particularly VIP tourist gaming revenue.
In 2012, the industry is expected to generate revenue of $126.6 billion, representing a 5.7% rise from the previous year, with annualized growth of 2.3% over the five years through 2012. This growth will be due to 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,” says IBISWorld industry analyst Radia Amari. 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 allow greater access to gaming activities as governments seek greater access to money through gaming deregulation. Over the next five years, revenue is expected to grow.
The Global Casinos and Online Gambling industry has a low level of market share concentration. In 2012, the top four players account for about 31.0% of industry revenue. However, industry concentration is increasing, particularly among mega-casino operators such as Caesars, which merged with Harrah's to become Ceasars Entertainment Corporation during the past decade. According to Amari, casino operators are also expanding internationally. For example, Las Vegas Sands Corporation and Genting Berhad have expanded into North American and Asian locations during the past decade, as more locations legalize casino operations. For more information, visit IBISWorld’s Global Casinos and Online Gambling industry report page.
Follow IBISWorld on Twitter: https://twitter.com/#!/IBISWorld
Friend IBISWorld on Facebook: http://www.facebook.com/pages/IBISWorld/121347533189
IBISWorld industry Report Key Topics
This industry consists of gambling facilities that offer table wagering games and other gambling activities, such as slot machines and sports betting. These establishments often provide food, beverage and lodging services. The industry also includes legal online gaming on casino-type games.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalization & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique industry information and analysis. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.
For the original version on PRWeb visit: http://www.prweb.com/releases/prweb2012/11/prweb10162238.htm