Price Waterhouse Coopers (PwC),
one of the giants among accounting firms around the world has recently published
a report entitled "Global casino and online gaming market to 2014." This long
but must-read report discusses the industry and online casinos including
players, trends and revenue growth, to name a few. We made a step forward in
digesting certain sections of the report and the summarize for you. It is worth
mentioning that we have chosen content relevant to this site and have summarized
below along with some of our inputs (Readers who wish to obtain an overview of
the details of the report can visit
Casino income figures - real and Estimates
The PwC report was released in two parts. The first part contains discussions on casinos while the second deals with online casinos. Although this site focuses on online casinos, a discussion of the casinos can not be ignored at this stage given its huge operations and has a strong influence on its online counterpart. Probably due to lack of reliable and credible sources, revenue figures South African Gambling online were excluded from the report of PwC. However, the company came out with figures of revenues derived from regulated online gambling. PwC says that for 2009 alone, revenue from the game around the world was a huge 100.5 billion U.S. dollars. The company also believes that this will reach U.S. $ 156.8 billion, or a heavy 56 percentage points increase in late 2014.
Asia Pacific - Earn Headway
Everyone knows that Asia is presented as the next world champion, so it did not come as a surprise when PwC said that the Asia-Pacific Region industry players, particularly Macau, has already exceeded revenues Nevada casinos in 2008. Asia-Pacific countries such as Australia and South Korea have become major players as they accounted for 92% of revenue for casinos in the region for 2008. Singapore should not be left as it occupied the number three slot revenue contributor among regions for the same year.
U.S. recession and casinos
In the United States, casino owners know that a less favorable production. The recent economic recession has had a negative impact on the casino owners in Nevada and Atlantic City. The casino owners have not been spared from the crisis. As expected, revenues nose dive. As a precaution, the government of New Jersey is preparing to introduce legislation on online games that help casinos outside Atlantic City to obtain licenses.
Changes and directions
PwC also noted the broad guidelines to be taken by online casinos within four years. Here is a brief discussion of these directions, including our views.
1. Cross game
The practice of keeping operations casino in the territories or states are supported by their respective governments, however, this game can you will not gain a strong hold up in the coming years. Casino owners, especially those operating in states or smaller areas would find ways to expand the scope of its client. The multi-state Powerball lottery in the United States and some provinces in Canada are preparing to create a network of poker. Apparently, the border crossing is inevitable that business owners are looking to provide its customers with as many local players to play against.
2. Government and Taxation
Like any business or operation, casinos are also imposed by the government. Naturally, would increase government revenue from taxes, however, it may be wise to temper the imposition of taxes (including regulations) if it wants the industry to thrive. Too imposition of taxes and strict regulations can kill the industry. Online games in France, for example, accused the French government for its poor performance due to regulations and taxes. gaming companies in the UK have also experienced the same heavy imposition of taxes. For this reason, a game company first in the UK has decided to pull off and move its headquarters.
3. The views and societal values
People have different perspectives on gambling. Poker, for example, is considered strategy game involves analytical skills among its players. On the other hand, table games in casinos are often times considered a game of chance and it is unlikely to gain widespread over poker games acceptance. In the United States, horse racing has evolved to become legal in different states. Paris sports has also become a major industry in the United States.
A few years ago, the UIGEA bill was passed to control illegal gambling online but there are entities that grow its repeal. We can continue to discuss a host of other forms of gambling and different views of the public on these. The bottom line is every form of gambling draws mixed reactions from various sectors of society. The saying "different people, different races" applies strongly.
4. The Social Network Bandwagon
Many might wonder if an agreement could be forged between the popular social network Facebook and Harrahs. Deal or No Deal, social networks are expected to play a major role in promoting online casinos. It is interesting to note that apart from Harrahs, other online casino companies have expressed a growing interest in joining the bandwagon of social networking. Apparently, business owners increasingly recognize the value of casino social services and their enormous contribution to the increase in customer base and revenue. One proof is the growing number of fans of Zynga poker play poker for free via Facebook.
Overall, it appears that the growth of online casinos (including land-based) will be greatly influenced by the laws and government regulations on casinos and strategies for achieving growth in turnover years. Of course, we can not ignore the role of the public in shaping the future of casinos around the world. Whether or not it is willing to accept the game as a legitimate source of entertainment for mature, responsible adults remains to be seen. Finally, forging links with social networks have become a trend among casino owners as they recognize his valuable contribution to the market presence and revenue growth.
We will continue to follow news and issues related to laws and regulations of online games interesting for us to follow on twitter @ rCasinoReviews regularly or simply subscribe to our RSS feed.