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Casinos to win 144 billion The global gaming business turnover will reach $144 billion by 2011, according to PwC’s estimates.  Revenues of global gambling industry will reach $144 billion by 2011. The business will grow 7.2% a year in average. But for the legislative restrictions, Russian casinos would have been able to earn more than enterprises of military-industrial complex. However, next year the law will be toughened, and it will result in about 60% reduction of the domestic gambling industry turnover, grieve the market participants. The global gaming business turnover will reach $144 billion by 2011, according to the specialists’ estimates of audit company PricewaterhouseCoopers. According to PwC’s report, aggregate global revenues from gambling operations accounted for $101.6 billion in 2006. The growth is due to the opening of new gambling facilities and modernization of the existing ones. “And this process is universal”, experts emphasize. In America, the annual growth of casino profits is expected to be about 6.7%. In Asia-Pacific they expect gambling revenues to increase 15.7% a year. The growth of Asia-Pacific casino turnover from the current $14.6 billion to $30.3 billion by 2011 will make the region second in the world by the amount of gaming business revenues. The last year’s turnover of American casinos was $57.5 billion, and in 2011 it is anticipated to be $79.6 billion. The growth of Nevada state revenues forecasted to be 7.5% a year – up to $18.2 billion by 2011. Atlantic City revenues, according to the experts, will have a more modest growth rate – about 0.1% annually – up to $5.2 billion. It is conditioned by the booming popularity of slot machines in neighbouring Pennsylvania. The revenues of Indian tribal casinos will reach $36.5 billion by 2011 (the annual increase is 7.6%). The business of other American gambling facilities will grow 6.6% a year, by 2011 their profits will be $19.5 billion. PwC’s analysts forecast that revenues from legal casinos and from on-line gambling in the area of Europe, Middle East and Aftica, will grow 1.9% a year and reach $27.8 billion by 2011 (as compared to $25.2 billion in 2006). In Canada, the increase of revenues is expected to be to $5.9 billion (as compared to $4 billion). In Latin America gambling revenues will raise up to $495 million a year as compared to the current $278 million. Vice President of Gambling Operators’ Association Evgeniy Kovtun reminds that the peak of the industry development in Russia was stated two years ago. “As on January 1st, 2006, the turnover of the Russian gambling market (all kinds of gambling but for cash lotteries) was estimated to be about $5.5-6 billion”, explained the expert. According to him, but for the changes in the legislation, the market potential would have been about $8 billion by now. To compare, according to the data of Strategy and Technology Analysis Centre, the major enterprises of the military-industrial complex of Russia earned over 200 billion rubles (about $7.5 billion) in 2006. Following the new gambling legislation, from 2009 in Russia there will be a ban for gambling organization and arrangement within residential areas; the law provides for setting up only 4 gaming zones – Kaliningrad region, the Republic of Altay, Primorie region and a border territory between Rostov region and Krasnodar region. According to the expert, “right now no work is being done regarding to the gaming zones, and it is obvious that, unless the legislation is amended, no gaming zones will be opened by the middle of 2009”. Source: by the materials of “Vzglyad” newspaper |  |  | 
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