Boom in the Gaming Industry

Written By Janice Doughtrey

Casinos around the world have been doing well and gaining popularity over the years. It is evident that more and more people are getting into the gaming industry as new casinos come up every day.

In South Africa, PwC conducted a survey, and the results showed casinos still have the greatest impact on the gambling market. The research going back to 2015 and forecast to 2020 indicates that yearly there will be a six percent growth. Although the market has experienced a shrink by eleven percent from 2011 to 2015, PwC estimates an increase of US $1.6 billion for the next three years. Sports betting, however, has experienced a major growth as there was five times more new registration in 2015 as compared to 2011.

In 2014 at Iowa State in the US, a casino license was denied as it was feared that casinos would negatively affect the gaming venues like Golf Resort and Riverside Casino in the neighboring area. However, the Cedar Rapids City Council will revisit the proposal and have a debate on allowing for the approval. Three main proposed projects will come up in case the license is granted.

First, is the Cedar Crossing on the River; this is the project that made its attempt in 2014. The company will invest US$165 million, and annual revenue has been forecasted at US$83.8.

The second project is the Cedar Crossing Central, who would have revenue of sixty-three million dollars annually and will invest a total of one hundred and five million.

Lastly, Wild Rose Entertainment will invest forty million dollars and has projected to make revenue of forty-two million every year. Bridge Investment Group, the company that is to construct the proposed Tinian Ocean View Resort and Casino, has made an online petition to be allowed to proceed with their plan. They did that after US Coastal Resources Management refused to grant them the permit to construct.

A new casino like any other new business means more revenue and an improvement in the economy. People, who are passionate about gaming, anticipate the opening of new casinos.

In the Philippines, however, they will have to wait a little longer as the opening of Okada Manila Casino has been pushed to March. It is expected to be the largest integrated resort. As Filipinos await the opening of the Casino, Las Vegas will be losing poker room in the Monte Carlo soon; the owner said they are planning to change the business and put up two hotels. The aim of the MGM Resort is to make them the premium destination resort in Las Vegas, and that is why the closing of poker room is necessary.

Las Vegas has experienced closing down of several poker rooms; for the last fifteen years, seven have closed.

Casinos regardless of their location experience substantial revenue; this is good for the owners and also for the growth of the economy of the country. They offer job opportunities, and at the same time, they are sources of entertainment to the clients.