Global gambling revenue is estimated to hit US$144 billion in 2011
Global gambling revenue is estimated to hit US$144 billion in 2011 after growing at an annually compounded rate of 7.2 percent a year, a PricewaterhouseCoopers LLP report released yesterday showed. Gambling revenue is expected to rise from US$101.6 billion last year, driven by new casinos and upgrades of existing casinos in all regions of the world, the report said: Revenue in the US is expected to grow 6.7 percent a year to US$79.6 billion from US$57.5 billion, while in the Asia-Pacific region it is forecast to grow 15.7 percent annually to US$30.3 billion from US$14.6 billion, becoming the world’s second-largest casino market. Legal casino and online gambling revenue in the region encompassing Europe, the Middle East and Africa is expected to rise 1.9 percent a year to US$27.8 billion from US$25.2 billion. Gambling revenue in Canada is seen rising to US$5.9 billion from US$4 billion, while in Latin America, revenues are expected to climb to US$495 million from US$278 million. 
Strict regulations banning the transfer of funds between gambling sites and US residents are expected to have an adverse affect on UK-based online operators, while a mix of sports betting restrictions and new licenses will hurt sports betting in Europe overall, the report said: In the US, Nevada revenues are projected to grow 7.5 percent a year to US$18.2 billion, but Atlantic City, New Jersey, revenues are forecast to slip 0.1 percent a year to US$5.2 billion. While new projects in Las Vegas are seen driving Nevada growth, the report said New Jersey’s gambling hub would be hurt by the availability of slot machines in nearby Pennsylvania.