Casino Openings And Online Gambling Increase
For the last five years, traditional casinos as well as online gambling has been increasing at a steady pace. This is mostly due to the fact that new casinos have been appearing in countries such as Singapore, China as well as other Asian locations where gambling has been made legal. Online casinos have also improved over the last few years and a great number of customers choose to go online for their favorite games and things will most likely get even better for global casinos in the next five years.
While Las Vegas and Atlantic City used to be the core locations for the gambling industry, ever since 2008, things have slowly changed to make Macau, China the current gambling center; according to analyst Craig Shulman. The number of casino openings in Macau as well as in other parts of Asia has switched the power from the U.S. to this quickly growing market.
New casinos are said to appear in the next few years that will surely rival the big names from Las Vegas. The problem with these Asian casinos is that the government limits the access for locals and they are highly dependent on tourism for clients and revenue. The Global Casinos and Online Gambling industry will most likely generate $126.6 billion in revenue for the year 2012. This means an increase of 5.7% if we compare it to last year and most of it is due to the Asian gambling markets that are beginning to expand at an alarming rhythm.
We should also not forget the existing markets in U.S. and Europe, especially in Las Vegas, where the casinos are just getting out of a bad economic situation and have also declared an increase in revenue from last year. As the economy recovers, new casinos will appear that will give governments access to money from gambling regulations. While Asian countries seem to be now in control when it comes to offline and online casinos, the new regulations that are discussed in some states may just change the balance back to USA.
The two big operators, Caesars and MGM, have the ability to expand overseas as well as get a big segment of the online gambling market as soon as the new legislation comes through. Other big Las Vegas casino operators such as Las Vegas Sands and Genting Berhad have increased their revenue by expanding to Asia as well as North America in the last decade. More and more locations begin to see the benefits of legalizing casinos and gambling which will lead to more operators expanding.
Online gambling is one of the fastest growing markets right now and casino operators are looking to get a part of it. While the U.S. legislation might limit access to this form of gambling, things are looking to change by the end of 2012 as Illinois and Las Vegas lead the way towards making it legal. If the last five years have shown an increase in the Global Casinos and Online Gambling industry, similar growth can be expected for the next five years and new casinos will pop up in Asia as well as in US and Europe.