While the casino industry has suffered from global recession and regulatory issues, its overall balance sheet remains in the black. Technology has also contributed to a rise in annual revenue, making it one of the most vibrant entertainment economies in the world. This article looks at the state of reputable casinos not on gamstop and Macau’s casino revenue on a global scale.
Macau’s casino revenue in a global scale
A recent report from the World Bank shows that the global economy is suffering from a recession. But despite this grim outlook, Macau’s casino revenue is relatively unaffected by the slump. The growth in COVID is expected to help mitigate the impact of the recession in the near term. The impact of the recession in the US, however, is likely to be limited by recent cost-restructuring, which puts the casino operators in a better position than in previous recessions.
The growth of Macau’s casino industry has also created a variety of challenges. The island has imported labor on a massive scale, which has fueled employment issues and real estate bubbles. Furthermore, Macau’s gaming boom has resulted in increased gambling addiction.
Australia’s gambling losses in a global scale
According to a new report, Australia’s gambling losses are among the highest on a global scale. It is estimated that Australians lose around $1144 per person every year. This is more than double the number in the United States, which is the world’s largest gambling market. Meanwhile, second-placed Singapore is only a little behind Australia with about half the gambling losses per person. The high levels of gambling in Australia are a concern for anti-gambling campaigners. They say Australians are the world’s biggest gamblers due to the high amount of opportunity they have to fritter away their money.
Sadly, general population surveys don’t tell the full story, as the majority of gambling losses fall on the poor and disadvantaged. For people with little discretionary income, losing even $100 a week on gambling can significantly impact their ability to pay for basic necessities like electricity and food. It can affect their ability to go to school or secure a tenancy. Overall, it is estimated that around 600,000 Australians lose money due to gambling.
Asia Pacific’s contribution to the global casino industry
The contribution of Asia Pacific to the global casino industry is considerable. The region’s growing middle class and the number of working women have been a major driving force for the industry’s expansion. Despite the recession, the region’s casino industry remained resilient and posted positive results in 2009.
Asia Pacific has also been a source of innovation. Indian companies have been utilizing popular social media platforms to promote their gaming businesses. YouTube and Twitter campaigns have been instrumental in driving the growth of gaming in the region. Analysts expect this growth to continue, as social media fans are among the fastest growing demographics. And in addition to online gambling, Asia Pacific is also home to the fastest-growing blockchain gaming and entertainment company.
Besides Macau, the region has also produced a number of gaming destinations. The recent legal approvals of casinos has led to an exponential expansion of the industry in the region. The development, an integrated leisure destination, has helped to further boost growth.
Online gambling’s growth in recent years
Currently, the largest market for online gambling is Europe. In 2015, the European Union’s online gambling industry accounted for 47.6% of the world’s total online gambling gross win. Europe has led the way in online gambling with innovative products and successful casino platforms. However, the fragile state of EU politics may slow down this industry’s growth.
Online gambling is increasingly becoming popular among younger generations. In the UK, nearly 30 million adults are registered as gambling enthusiasts, and 10.5 million of those people prefer online gambling over offline gambling. Mobile coverage has also contributed to the growth of this market, which is expected to grow at a significant CAGR over the next few years.
Social gambling’s growth in recent years
While social gambling is still new, it has grown rapidly over the last couple of years. Currently, over 127 million people play social casino games, spending $31 billion in 2013. Some of these sites have content-agnostic policies, meaning they offer the same games as brick-and-mortar casinos.
The growth of social casino games has been a boon to both the online gaming industry and casinos. It has provided casinos with a new revenue stream and a powerful marketing tool, bringing in new customers. It’s especially valuable for social gaming sites. Here are some stats on the industry’s growth:
The growth of social gambling is driven by a number of factors, including changing gambling habits. As an example, increased use of mobile devices and increased internet penetration are likely to drive market growth.