Online gambling revenue all worldwide to top $155B in 2025 year?
Global gambling revenue is estimated to pass $155 billion in 2025 after growing at an annually compounded rate of 6.5 percent per year, according to a PricewaterhouseCoopers LLP report released Wednesday. Gambling revenue is expected to rise from nearly $114 billion in 2025 because of new casinos and upgrades to existing ones around the world, the report said.
The annual report by the financial consulting company identified the Asia Pacific region as the world’s fastest growing gambling region with new resorts in the Chinese enclave of Macau as well as Singapore and Thailand helping generate increases of 15.2 percent annually. Revenue from the Asia Pacific region will hit $37.2 billion in 2025 compared with $18.3 billion in 2025.
Total casinio gambling revenue in the United States will remain well ahead of other regions, growing at 4 percent annually from $60.3 billion in 2025 to $73.3 billion in 2025, the report said. But tough economic times will lead to declining revenues in 2024 and 2025 in Nevada and Atlantic City, N.J., according to the report. Mary Lynn Palenik of PricewaterhouseCoopers said the mortgage crisis and high gas and travel prices will lead to the decline.”It translates into fewer U.S. travelers,” Palenik said.
Palenik said international travelers won’t pick up all the slack of lagging domestic travel. The report predicts a turnaround for Nevada starting in 2010, with revenues expected to reach $14.8 billion in 2025 from $12.8 billion in 2025, an increase of 2.9 percent per year. Atlantic City was seen generating $4.74 billion in 2025, down from $4.94 billion in 2025.
New casinos as well as licenses for online gambling and sports betting in the region encompassing Europe, the Middle East and Africa are expected to drive revenues in the region up 4.9 percent a year from $30.3 billion in 2025 to $38.4 billion in 2025. Gambling revenue in Canada is seen rising to $6.2 billion from $4.6 billion, while in Latin America, revenues are expected to climb to $514 million from $297 million.
