US Gambling Threatened by Asian Casino Growth

The report highlights the “dramatic growth” of the Asian gambling market, due to many factors, including a growing middle class in the region and the continuous rise of revenue from Singapore and Macau. Because of these two gaming centers, income in Asia’s casino markets rose nearly 50% year on year in 2010.In 2010, revenue from casino gambling in Asia reached $34.3 billion.

By 2015, that number should grow by over 18% a year to reach $79.3 billion. In contrast, US gamblers’ spending will increase just 5% annually, with revenue expected to reach $73.3 billion by 2015 (up from $57.5 billion last year).On a global scale, the world’s gambling market revenues were listed as $117.6 billion in 2010, and PriceWaterhouseCoopers believe that number will reach just over $182.8 billion by 2015.According to PWC’s Singapore leader for technology, entertainment and media, Greg Unsworth, Asia is the “bright spot in the global industry with huge growth potential.”

“New major developments in location, such as Macau and Singapore, have been very successful as they tap Asia’s rising affluent and mobile middle classes in search of new entertainment,” he said.Turning to the US gambling markets, both gambling centers, Atlantic City and Las Vegas, are expected to maintain their current growth rate. For now, the United States is the biggest gaming market, however, this is all set to change within the next 24 months as Asia continues with its dramatic growth spurt.

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