Asia Predicted To Close Gambling Revenue Gap On Usa By 2014

ASIA PREDICTED TO CLOSE GAMBLING REVENUE GAP ON USA BY 2014

08th December, 2010 at 09:11:16
Source: http://www.azonlinecasinos.com

PwC Predict That Macau Will Realise 66% Of USA Gambling Revenue.

According to a new report released today by professional services firm PricewaterhouseCoopers (PwC), the gambling industries of Asia and Australia will move much closer to the United States in terms of gambling revenues by 2014. The report released by PwC predicts that, collectively, gambling hotspots in Asia, which include Macau, Singapore, South Korea, and Australia, will generate gambling revenues of around $62.9 billion (38.8bn) by 2014. Last year their combined revenues were $21.8 billion (13.8bn). However, this was a massive 62% lower than the gambling revenues of $57.2 billion (36.2bn) achieved in the U.S for the same year. However, such is the growth of gambling in Asia and Australia, especially in such hotspots as Macau, that by 2014, the $62.9 billion expected to be achieved would only be around 8% less than the $68.3 billion (43..3bn) predicted to be generated throughout the States.

The report details that Macau will experience around a 25% growth in gambling revenue each year for the next five, culminating in 2014 generating $45.1 billion (28.6bn) in Macau alone (over 72% of the total predicted across Asia and Australia!). As well as Macau's continuing strong growth, another reason for Asia and Australia's catch up to the U.S gambling market lies with the extremely poor climate in Nevada and Atlantic City. Atlantic City is scheduled to experience around a 3.2% drop in gambling revenues each year, and Nevada casinos are only expected to grow 4.1% each year, with $12.5 billion expected to be generated in 2014.

PwC has claimed that predicting the future of the online gambling industry is extremely tough due to the online legality issues currently being experience in the USA with no definitive promise of future changes.

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