Global gambling growth predicted

Overall world gambling revenues climbed to a record $419 billion last year, led by growth in Asia, according to the Isle of Man-based Global Betting & Gaming Consultants, which released its latest study this week.

Revenue rose 5.6 percent from $397 billion in 2010 and is forecast to reach $448 billion this year, with the strongest growth recorded in Macau, Singapore and Cambodia, as emerging markets proved more resilient to the global economic crisis than developed countries.

“A strong recovery in the U.S. would help gaming revenues that have been hit hard in recent years,” GBGC exec Lorian Pilling said. “North America will continue to recover. We’re fairly cautious on Europe; growth is seen at 3.5 percent across all gambling categories because of the uncertainty in the euro zone.”

Global gambling revenue will reach $500 billion by 2014 as several casinos in Asia are due to open in the coming years and Singapore’s integrated resorts are still only in their second full year of operations, Pilling said.

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