Gambling Industry Will Be Worth $144 billion by 2011

A report published by PricewaterhouseCoopers LLP has predicted that the global gambling industry may be worth as much as $144 billion in 2011 following an annual compounded growth rate of 7.2 per cent.

According to the report, the value of the industry, which is currently worth $101.6 billion, is set to soar thanks to a surge of new casinos being built worldwide and the revamping of existing casinos.

The Asia/Pacific region will be the main catalyst behind the increase, especially the Chinese resort of Macau. Revenue is expected to increase from $14.6 billion to $30.3 billion, a 15.7% improvement.

Revenue in the U.S will rise by 6.7 percent a year from $57.5 billion to $79.6 billion, allowing the country to hold on to its title as the world’s largest casino market.

Gambling revenue in the Europe, the Middle East and Africa will see a slight increase of 1.9 per cent, rising from $25.2 billion to $27.8 billion.