San Jose, California (Vocus/PRWEB) February 09, 2011
Casino gaming represents the largest and most lucrative segment of the commercial gambling market. The global gambling industry is in a significant transition phase that has the potential to change the casino industry’s future course. The industry is experiencing competition from the rapidly expanding online gambling and an increasing level of public endorsement. Recent trends suggest that major global gambling companies are looking to move large sections of their business online but are however faced with a strict regulatory environment. The rampant growth of gambling establishments in non-traditional regions such as the Caribbean is also having considerable impact on the worldwide gambling industry.
Casino gaming has expanded into various forms, from the grand resort style of casino gaming to riverboat gaming; and from stand-alone slot machines to Internet casinos that enable players from disparate regions in the world to play against each other. Online gaming is a very small industry compared with its land-based counterpart. The most optimistic estimates are pegged at 1.0% of the overall gaming business. However, the segment is growing fast and is likely to boom. Growth in the online gambling industry is driven by massive consumer demand. Internet casinos are offering the same instant delight as off-line casinos but for a short wait for an electronic transfer of winnings. The casino gaming industry is now looking at opportunities in new markets in midst of economic recession. Casino gaming is now looked upon, as a vital source for income generation by countries and the governments are levying heavy taxes on casinos. This in turn is discouraging the casino administration to run casinos in developed countries, especially Europe. In addition, the Casino market in developed countries is saturated, while new emerging Asian markets present robust growth prospects. Apart from gambling, other avenues such as opportunities in the food service and entertainment business in the casino gaming industry are growing in importance. In the US, as gaming moves beyond the confines of the Vegas Strip and the Atlantic City Boardwalk, opportunities for restaurant operators to partner with casino companies are also increasing.
Attractive new destinations and development of existing casinos is driving popularity in casino gaming. Casino gaming, a part of entertainment business, is looking towards the markets in southern South Africa and South America that offer attractive growth opportunities. Different regions in the world are considering the benefits that casinos and related gaming activities bring to the communities, and the whole region as such. Some of the most thriving casino markets in the world such as the US, China (Macau, Hong Kong), and European regions are reaping large scale revenues that are translating into immense business opportunities for associated industries and development of regions encouraging gaming. However, the other side of the coin speaks of a more different kind of predicament the industry is facing, and consequences producing rippling affects in society. Inherent gambling perils such as compulsive, problem, and pathological gambling incidences are increasing at the same level as revenues.
Global economic downturn impacted adversely the land-based casino markets in Canada, US, UK and Japan as the credit markets considerably tightened, and money inflows became a major concern. A number of entertainment industries suffered losses as disposable income declined. Las Vegas and Atlantic City in the US were both severely affected by the recession. Las Vegas even offered lucrative deals for flights and hotel stays to attract casino gamblers as lesser people traveled during the slowdown period. However the online casino industry continued to display steady growth, even during the period of financial crisis, as they offered extended periods of entertainment for relatively lower stakes. While large online casinos are expected to witness a healthy growth, the relatively smaller ones are projected to exhibit negative growth rates in the near future.
The situation showed a definite improvement in 2010, with majority of major casino destinations back on the positive growth track during the year. Despite the improvement in growth, it is still quite early to display unbridled optimism as progress over the near term is expected to be slow. It will be quite some time before the market can achieve the previous highs recorded in pre-crisis years.
The US is undoubtedly the single, most significant casino market worldwide, as stated by the new market research report on Casinos. Asia-Pacific and Europe considerably lag behind the US in terms of sheer size, but are nevertheless the other major casino markets worldwide. In terms of future growth potential, Asia-Pacific, spurred by lucrative casino destinations such as China (Macau), Singapore, Australia, Hong Kong and others is likely to outstrip the other world regions through 2015.
The casinos industry in the developed countries of US and Europe is characterized by a very complex, competitive structure. Competition is prevalent not only between individual casinos, but also among industry leaders, land casinos, and virtual casinos. Leading market participants profiled in the report include Ameristar Casinos, Inc, Boyd Gaming Corporation, Century Casinos, Inc, Harrah’s Entertainment, Inc., Isle of Capri Casino, Inc., Ladbrokes Ltd., MGM Resorts International, Station Casinos Inc, Sun International Ltd and Wynn Resorts Limited.
The research report titled “Casinos: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of casino and gaming industry overview, trends & issues, regulatory environment, associated industries, product innovations, recent industry activity, and profiles of market players worldwide. Analysis and overview is presented for major geographic markets such as US, Canada, Europe (France, Germany, Italy, UK, Spain and Rest of Europe [Austria, Belgium, Czech Republic, Denmark, Greece, The Netherlands, Hungary, Poland, Portugal and Others]), Asia-Pacific (Macau, Australia and Rest of Asia-Pacific), Latin America and Rest of World. Market analytics are provided in terms of value (US$) for casino revenues. The study presents historic data for an insight into market evolution over the period 2000 through 2006.
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Casinos_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
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