Commercial casinos will overtake lotteries as the world's leading gambling activity in 2012, it has been predicted.
Global Betting and Gaming Consultants' Global Gambling Report - Betting on Regulation study found that gambling activities generated $419bn in revenues internationally, 5.6 per cent higher than the previous year.
Overall, lotteries had the highest share of gambling revenues, accounting for 28.4 per cent of the total but the growth of casinos in jurisdictions such as Macau and Singapore are a close second with a 27.7 per cent share.
GBGC predicts that commercial casinos will generate the greater portion of revenue and overtake lotteries this year. Interactive gambling, meanwhile, accounted for 8.4 per cent of global revenues - up eight per cent on 2010.
"GBGC is forecasting that global gambling revenues will reach $500bn by 2014," said GBGC director Lorien Pilling. "There are numerous new casinos under development in Asia that are due to open in the next few years, while Singapore's integrated resorts are still only in their second full year of operations."
The global economic situation will be a "major influence" on gambling markets, he continued.
"If China's economy does have a 'crash landing' it is difficult to see Macau's gaming growth rates being maintained. A strong economic recovery in the US would help gaming revenues that have been hit hard in recent years. In Europe, the gambling industry really needs the eurozone crisis to be resolved because the uncertainty is really hurting the gambling sector in the likes of Greece and Spain."
Macau's casinos seem remarkably resilient in the face of the global economic downturn. Last month, the Chinese enclave's casinos reported gross revenues of MOP25.04bn ($3.12bn), up from MOP18.5bn recorded in January last year.
The monthly increase of 34.8 per cent continues the Macau gaming industry's positive performance, which, over the course of 2011, resulted in revenues totalling MOP267.8bn.
