Now in its 26th year, Ernst & Young's annual Gaming Bulletin reports that Macau cemented its position last year as the world's premier gaming destination by posting US$10.2 billion in revenue, an increase of 47 percent on 2006. Las Vegas casino revenues were US$6.8 billion for 2007, only 1.5% up on 2006 revenues.
The report points to other challenges faced by the global gaming sector. In 2007, for example, several countries including the UK and Australia imposed smoking bans in casinos. Also, partial smoking bans have been imposed in gaming properties in Nevada and Atlantic City, New Jersey, USA. These bans have resulted in lower gaming revenues, but overall Ernst & Young sees more positives than negatives for the sector.
"With new destination gaming centers opening around the globe and technological advances such as electronic table games and wireless betting units enhancing consumers' casino experiences, we see potential for future revenue growth in the sector," said Tom Roche, Global Gaming Services Leader, Ernst & Young. "However, the sector's long-term outlook very much depends upon the industry's continued access to affordable capital to finance the building of the mega casino/entertainment/retail projects that consumers seem to crave," he added.
