Bright Outlook for the Gambling Industry
A recently released report entitled, “Casinos: A Global Strategic Business Report” by the Global Industry Analysts discusses a comprehensive forecast for land-based and internet gambling. Founded in 1987, Global Industry Analysts (GIA) is one of the world’s leading market research publishers with over 1,200 reports released each year. Their most recent report on the gambling marketplace shows a bright future.
The report contains a variety of important topics including:
- Trends and issues
- Regulatory environment
- Product innovations
- Associated industries
- Recent industry activity
- Profiles of market players
Overall the study formulated a prediction, that land casino gambling will increase to $101.30 billion by the year 2015. GIA also predicts there will be tremendous growth for the online gambling industry. The report further states casinos are the largest and most lucrative sectors of commercial gambling on land. Therefore land-based gambling is the object of focus for the government due to the generation of income for state and federal necessities through taxation.
Unfortunately, land-based casinos have reached saturation in the developed countries. Therefore, the report forecasts considerable growth in developing Asian countries, more specifically Macau. A common trend in the casino industry is opening one of many casinos in Macau to remain ahead of the competition.
GIA’s report expands on this idea by stating that the gambling market is in a significant transition phase between land-based and online gaming. There are many major gambling organizations that wish to move their operations online but face a strict and difficult regulatory climate. Although online gaming comprises only a small fraction of overall gambling, it is growing at a rapid pace and will continue to in the future.
This report continues by providing readers with many facts based on other reports and studies conducted. Several other studies indicate slowly growing trends in Nevada and Atlantic City. The Nevada Gaming Control Board reports a 0.1 percent increase across the state in 2010 compared with 2009 as a result of 4.1 percent growth in Las Vegas. On the other hand, Atlantic City faced falling revenues for the beginning of 2011.
This report is extremely comprehensive but accurate. Due to the credibility of the source this information is an excellent preview of the future of the land-based and online gambling industry. Hopefully the slight growth trend will transform into steady growth for both segments of the industry across the globe, just as the report deduces.
by ste01153 on June 30th, 2011 Posted in casino | No Comments »
