PwC Projects Close Net Revenue in Gambling Between Asia-Australia and USA in 2014
PricewaterhouseCoopers projected a 65 percent increase in the net revenue of Asia from gambling by 2014, whose market largely covers Macau, Singapore and South Korea, plus Australia, the gambling revenues of which areas were recorded at $21.8 billion last year.
PwC said their net revenue from gambling will edge up to $62.9 billion in five years time starting 2009.
The report, which was released today, has put forward an estimated close match-up in Asia’s and Australia’s revenues in gambling to that of the USA whose net revenue hit $57.2 billion in 2009, $35.4 billion more than that of its closest gambling revenue rivals.
By 2014, PwC said, USA’s net revenue from gambling will soar up a 16 percent increase to $68.3 billion, a projection of $5.4 billion more than that of Asia and Australia combined.
Predictions into the gambling market, which faces tough regulations from USA, have shown varying figures.
Net revenue of the American Indian casinos is projected to increase 2.7 percent annually to $30.3 billion in 2014 compared to its $26.5 billion last year. The figures are quite lower, as estimated by PwC, than USA’s net revenue hike predictions in its own territory by the same time frame, $38 billion or a $7.3 billion increase from 2009.
The net revenue predictions extend to regional casinos outside Nevada and New Jersey, which are expected to manage a 6.1 percent increase annually. PwC also forecasted Nevada’s gambling revenue to edge up to $12.5 billion in 2014 at a rate of 4.1 percent each year.
Atlantic City, on the other hand, would see a gambling net revenue drop of 3.2 percent annually.
The report said gambling net revenue in Macau, where Las Vegas Sands and Wynn Resorts are already making profit in, will outpace that of the USA at an annual rate of 25 percent leading to net revenue of $45.1 billion by 2014.