Casino News: Gambling Revenue to reach $155 Billion

Global gambling revenue is estimated to pass $155 billion in 2012 after growing at an annually compounded rate of 6.5 percent per year, according to a PricewaterhouseCoopers LLP report. Gambling revenue is expected to rise from nearly $114 billion in 2007 because of new casinos and upgrades to existing ones around the world, the report said.

The annual report identified the Asia Pacific region as the world's fastest growing gambling region with new resorts in the Chinese enclave of Macau as well as Singapore and Thailand helping generate increases of 15.2 percent annually. Revenue from the Asia Pacific region will hit $37.2 billion in 2012 compared with $18.3 billion in 2007.

Total gambling revenue in the United States will remain well ahead of other regions, growing at 4 percent annually from $60.3 billion in 2007 to $73.3 billion in 2012, the report said.

New casinos as well as licenses for online gambling and sports betting in the region encompassing Europe, the Middle East and Africa are expected to drive revenues in the region up 4.9 percent a year from $30.3 billion in 2007 to $38.4 billion in 2012. Gambling revenue in Canada is seen rising to $6.2 billion from $4.6 billion, while in Latin America, revenues are expected to climb to $514 million from $297 million.

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