Written By Carla Harris
As part of a comprehensive study of gaming operators throughout the Asia-Pacific (APAC) region, the international economic information provider Fitch Ratings recently predicted a four percent increase in gross Australian gambling revenue for the 2015 financial year.
Fitch Ratings is an established authority in the fields of market statistics and independent analysis that has been publishing reliable results for more than a century. Maintaining a truly intercontinental purview, the organization is co-owned by the Paris-based Fimalac and New York-based Hearst corporations.
Fitch’s report on Australian gambling found that, while the gaming industry is expected to grow overall, this growth will be unevenly distributed throughout the country. A December 15 article by The Star Online indicates that the performances of individual Australian casinos largely depend on the macroeconomic outlooks of the states in which they are located. However, there is currently a significant influx of new casinos and new investments in existing casinos throughout the country.
The projected development in the Australian region mirrors similar casino and gambling growth in other APAC markets. After a relatively weak performance in 2014, the APAC gaming industry is expected to bottom out early in the next year and then make a dramatic rebound as negative trends dissipate and new projects are launched. However, not all APAC countries will share in this trend toward general prosperity. Overall gambling revenue in Macao, for example, is expected to fall by four percent in 2015.
Citing ongoing political momentum to legalize casinos throughout the APAC, Fitch Ratings predicts continuing growth far beyond 2015. Like the countries of Vietnam, Cambodia, Sri Lanka, Korea, and Russia, Australia is expected to open several new casinos over the next five years.