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E&Y Finds A Wave of Capital is Fueling The Global Gaming Sector

"According to Ernst & Young report, a wave of money flowing into the gaming sector, globally, is fueling enormous expansion in casino and several other gaming properties from England to Michigan, Macau to Manchester, and all points in between. Ernst & Young s annual ""Gaming Bulletin"" in its 25th year, reported that the gaming industry which is fueled by billions in new capital for acquisitions, mergers and development, has undergone an alteration in the last year, producing a truly global gaming industry.

Brian Ford, Global Gaming Services Leader, Ernst & Young said that in the last year, they have observed Macau exceed Las Vegas as the foremost gaming center in the world, and they have seen the rest of the world exceed North America in terms of total number of gaming property. He further continued that in the US, they have also seen a strong flow of money into the gaming sector and observed the firm development of the North American gaming businesses through acquisitions and mergers as well as the coming out of new markets in Asia and Europe.

U.S. is the largest single gaming market with about 1,496 casino and gaming properties. In terms of casino expansion, the rest of the world has now sharply overtaken North America with 1,822 properties.

In the gaming sector, much of the development has come in Asia, where Macau has been the most important success story with about 23% yearly growth last year and US$6.9 billion in annual revenue in the year 2006, exceeding the Las Vegas strip (US$6.7 billion). More regional growth is anticipated in the coming 12 to 24 months with Singapore expected to open its first gaming properties in the year 2009 and Japan conversing whether to raise a longtime ban on casinos.

In the year 2006, the other regions that witnessed considerable growth in their gaming sectors include South America – where Argentina has more gaming activity compared to any other country in this region – and Africa, where South Africa dictates with 37,599 slots and 44 casinos. The report forecasts that other emerging states like such as Russia and India may also notice strong future development of their gaming sectors in the coming few years, although, presently, both markets have some definite limitations in place."

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One Response to E&Y Finds A Wave of Capital is Fueling The Global Gaming Sector

  1. Nurettin says:

    GlaxoSmithKline are now following suite and ofierfng to pay university fees for their 50-100 grads each year. Those lucky enough to get a job will have to sign a contract to work with GSK for a certain period of time to qualify for the payment. A clever move from GSK to ensure they get top grads for a good length of time. Lets see how many more companies use this tactic to attract talent