Industry Analysis & Industry Trends
The Casinos industry is expected to grow strongly over the five years through 2016-17 despite rising competition from overseas casinos. Increasing tourism, which has bolstered international VIP gambler visits, has been the main driver of industry revenue growth, while rising real household discretionary income has also benefited the industry. Industry revenue is forecast to grow at an annualised 5.3% over the five years through 2016-17, to reach $6.4 billion. Rising tourism numbers and VIP gambler visits are expected to fuel a 2.1% revenue jump in 2016-17.
Local casino operators have faced intense competition from overseas casinos, particularly for premium and VIP gamblers. These patrons are highly sought after, as they place high-stakes wagers that generate significant revenue... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Casinos industry is in the mature stage of its economic life cycle. Industry value added (IVA), which measures an industry's contribution to the overall economy, is forecast to grow at an annualised 4.1% over the 10 years through 2021-22. This represents an outperformance of overall GDP, which is projected to rise at an annualised 2.5% over the same period. However, the rise in IVA is inflated by a low base year in 2011-12.
Despite steadily rising demand for casino gaming services, local operators have faced increasing competition from overseas casinos. Macau is an established and leading global gambling destination, while Singapore also has two lavish casinos... purchase to read more