PricewaterhouseCoopers, the international audit group, predicts that global gambling revenue is estimated to hit a staggering $144 billion in 2011 after growing at an annually compounded rate of 7.2 percent a year, reports WTOPS News. The report forecasts that 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 $27.8 billion from $25.2 billion. Gambling revenue in Canada is seen rising to $5.9 billion from $4 billion, while in Latin America, revenues are expected to climb to $495 million from $278 million. Gambling revenue is expected to rise from $101.6 billion in 2006, driven by new casinos and upgrades of existing casinos in all regions of the world, the report revealed. The report suggests that future strict regulations banning the transfer of funds between gambling sites and U.S. residents are expected to have an adverse affect on U.K.-based online operators, while a mix of sports betting restrictions and new licenses will hurt sports betting in Europe overall. In the United States gambling revenues are expected to grow 6.7 percent a year to $79.6 billion from $57.5 billion, while in the Asia Pacific region it is forecast to grow 15.7 percent annually to $30.3 billion from $14.6 billion, becoming the world's second largest casino market. Within the United States, Nevada revenues are projected to grow 7.5 percent a year to $18.2 billion, but Atlantic City, N.J., revenues are forecast to slip 0.1 percent a year to $5.2 billion. It is estimated that U.S. tribal casinos will generate $36.5 billion in 2011, up 7.6 percent per year from $25.3 billion in 2006. Regional U.S. casinos outside of Nevada and Atlantic City and not including tribal casinos were seen gaining 6.6 percent a year to $19.5 billion, while sports betting is estimated to rise 5.8 percent per year to $255 million. New projects in Las Vegas will drive Nevada growth, but the report said New Jersey's gambling hub would be hurt by the availability of slot machines in nearby Pennsylvania Posted on: June 26, 2007
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