It is an undisputed fact that gambling revenue is growing globally. There may be local anomalies, such as a decline in money spent at certain racetrack venues, but gambling is increasingly seen as part of the huge entertainment industry. According to latest figures from a PricewaterhouseCoopers study on the Global Entertainment and Media Outlook, global casino gaming spending will reach US$125 billion by 2010, up from US$82.2 billion in 2005.
In Canada, much as in South Africa, the casino industry is maturing following an early entrance in the market and the early adoption of new technologies. Casino gaming revenue is expected to see an average 7.2% annual increase to US$4.2 billion in 2010. Less like South Africa is the rapid increase in online gambling with large scale broadband access – Canada is expected to nearly double annual online gambling revenue to US$825 million within four years.
Lower growth rates are forecast for casinos in the east of Canada but new and upgraded casinos in the west should boost casino gaming revenue overall. As in other nations around the globe, poker is driving the online industry in the country. However, the largest growth rate will be in wireless games, valued at US$74 million last year and expected to contribute US$283 million in 2010, an annual compound rate of 30.8%.
The overall Canadian entertainment and media industry is expected to maintain a steady expansion at least until 2010. Worldwide the industry is presently valued at US$1.3 trillion and anticipated to be worth US$1.8 trillion by that year. In 2010 the Canadian industry should account for revenue of US$41 billion. (E-06.23.06)
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