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 Analysis Chapter
The Casinos industry underwent significant operator consolidation at the beginning of the 2000s, but over the past five years enterprise and establishment numbers have remained stable. Initially VIP growth helped boost the domestic industry, but has struggled to sustain itself as competition intensifies against other casino destinations, such as Macau, Singapore and other parts of Asia. Increasing competition from international casinos and gambling websites has forced the industry to restructure and invest further in their services, elevating their quality.
This extra investment has paid off. Despite industry and market saturation, increasing international competition and increasingly wealthy Asian tourists have led to renewed interest by both domestic and international patrons... purchase to read more