Industry Analysis & Industry Trends
The global financial crisis and resulting recession negatively affected the Casinos industry's performance. Following three consecutive years of volatile revenue growth, the industry has improved since 2011-12, as it benefited from higher domestic and international economic growth. Industry revenue is expected to increase 3.8% in 2013-14 to reach $5.6 billion. Over the five years through 2013-14, industry revenue is estimated to rise at an annualised 3.6%. However, new challenges are emerging, particularly from interest rate rises and intensifying competition from new casino establishments opening across Asia.
Since the global financial crisis, interest rates have risen, resulting in consumers reducing their spending on entertainment, including in casinos... purchase to read more
Industry Report - Industry Investment Chapter
The industry has a high dependence on casual staff to operate during peak times and on in-house training programs. For every dollar spent on supporting buildings and equipment, including gaming tables and machines, $4.30 is spent on employment costs. The industry, like all others in the hospitality sector, is labour intensive, due to the emphasis on customer service, across all areas of operation from gaming, food and beverages, general entertainment and accommodation.
Mega-casinos are expensive to construct, given the space devoted to not only casino activities but also restaurants and associated hotels. The industry has been regularly engaged over the past five years in refurbishment and property upgrades... purchase to read more