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1、CONTENTS Error! No text of specified style in document. November 2011 | .au | www.ibisworld.co.uk | IBISWorld Industry Report Q8721-GL Global Casinos most are concentrated in the United States. The industry is concentrated in West region (which includes Nevada) and Mid-Atlantic region (which inclu
2、des New Jersey), which combined account for around 88% of total US industry revenue. These areas of concentration are due to legislation and regulations, particularly licensing provisions, which have allowed this industry to only develop in these areas, as casinos are still banned in the majority of
3、 states. The largest casino hotels are also located in these states. However, in lieu of dwindling sources of government income, many US state governments are now legalizing casinos to help themselves out debt. For instance, New York opened a racino in Queens in October 2011, and Miami and Chicago a
4、re expected to develop casinos in the near future as well. Online casino gambling is illegal within the United States, following the passage of the Unlawful Internet Gambling Enforcement Act in late 2006. This made it unlawful for banks to process certain gambling transactions, and makes it difficul
5、t for Americans to make certain deposits into gaming accounts. It has forced many online operators to relocate their operations, including to the Caribbean. The casino industry has recently undergone significant consolidation of operators and sites, with increasing interest of private equity funds a
6、lso in this industry. The state government banning casino developments in their jurisdictions is affecting industry growth. Due to this, many major US casino operators are partnering with other international companies to bid for the management of casinos in emerging casino in developing countries, i
7、ncluding Macau, China and Singapore. However, competition to existing casinos is also coming from Indian Reservation Casinos and casino developments at horse racetracks. WWW.IBISWORLD.COM Global Casinos & Online Gambling November 2011 14 North Asia Macau, in China, has become the centre of the indus
8、try in recent years, surpassing Las Vegas as an industry revenue source in 2007. Since the gambling monopoly in the autonomous region was relaxed in 2002, there has been a high level of industry development, and with growing Chinese and Asian prosperity, coupled with an Asian cultural affinity for g
9、ambling, Macau is in the right place at the right time. Macaus statistical bureau found that in 2010 the region made over $20 billion in gaming revenue, a figure that is expected to continue to grow. However, the government intends to moderate the industrys growth, choosing to cap the number of gamb
10、ling tables in the region each year since 2010, with the cap expected to grow 3% to 4% each year. While gambling is heavily restricted in Asia, Macau is not the only area in North Asia drawing significant revenue for the industry. South Korea already has a significant presence in the industry, and a
11、long with Japan and Korea is also investing in increasing its access to gaming revenue. South Koreas Jeju Island was awarded Free International City status in 2006 granting it similar autonomy to city-states such as Hong Kong and Singapore. As of 2011, the island has eight casinos, and the country h
12、as 17 casinos, 16 of which are for non-Koreans only. Outside of Jeju Island, Korea has casinos in Incheon, Seoul and Busan. Japan has no legal casinos, but has 5 million pachinko and pachislo machines (similar to pinball and slot machines) which generate about $10 billion in revenue each year. The g
13、overnment is reviewing whether it should allow up to 10 casinos to be developed currently. It has 200,000 illegal gaming establishments (or shantis). For North Korea, casinos are to be placed in the Sinuiju Special Administrative Region. South East Asia Singapore recently legalized casinos, with two
14、 major casino developments that opened in 2010 under strict legal regulation. These two casinos were an unprecedented success, raising $5 billion in industry revenue in their opening year, already rivaling Las Vegas in terms of revenue access. Much like Macau, the city- state is seen as a beacon for
15、 Asian tourists and particularly so with its new policies on gambling. The city states share of revenue is expected to grow significantly in the next five years. Malaysia also has a large casino, Casino de Genting, with 426 tables and 3,140 slot machines. This region, with its current high level of
16、investment in mega casinos, will remain a strong growth area for this industry into the near future. The Rest of Asia Outside of the above Asian regions, there are still casino presences elsewhere. There are a number of casinos across Sri Lanka, India, Nepal, Bhutan and Kazakhstan. Macau in 2008 had
17、 six Concessionaires and three sub concessionaire operators, with a total of 11,856 slot machines, 4,017 tables and 17,435 hotel rooms. Goa in India is the only city in that country that has legal casinos. Europe The country with the most casinos in Western Europe is France, with about 200 establish
18、ments, many of which are relatively small. Annual revenue is currently estimated at about $3.7 billion. The largest casino in Western Europe is Le Cafe de Paris located in Monte Carlo, Monaco, which has 15 tables and about 1,200 slot machines. Germany has 80 casinos, many of which are located in Ber
19、lin. It also allows casino cruise ships to operate, with annual revenue estimated at $1.5 billion. Casino industry growth in this region tends to be constrained by the large number of small casinos. WWW.IBISWORLD.COM Global Casinos & Online Gambling November 2011 15 The United Kingdom The United Kin
20、gdom is estimated to account for about 1.4% of total global casino revenue. It has about 140 casino establishments. Most establishments are small, but a mega-casino is expected to be constructed soon, following deregulation of the gaming industry in that country. New regional casinos can have playin
21、g areas of at least 5,000 square meters and 1,250 unlimited jackpot machines and betting and bingo. Casinos in the United Kingdom must be licensed. Casinos in the north of England have the largest attendance, while those in Scotland have the lowest. The United Kingdom also has a flourishing online g
22、aming industry, located on tax haven islands such as Alderney, with two electronic betting licenses, 14 interactive gaming licenses and a bookmakers license in operation in 2006. Deregulation of the industry is attracting significant interest and investment in this industry, with some mega casinos c
23、urrently under construction. Industry consolidation and stronger growth are expected in the future. Central and Eastern Europe There are 18 countries with at least one casino establishment, including Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Estonia, Hungry, Latvia, Lithuan
24、ia, FYR Macedonia, Poland, Romania, Slovakia, Slovenia, Serbia and Montenegro and Turkey. The country with the most casinos is the Russian Federation with 169 casinos and about 4,800 slot machines. The largest casino in this region is Hotel Casino Perla in Nova Gorica, Slovenia, which has 49 tables
25、and 850 slot machines. Albania legalized casinos in 2004 and the first casino, Hyatt Regency, opened in October 2005 in Tirana. It has 22 tables and 240 slot machines. This region is a strong growth one for the industry. Middle East In the Middle East, Israel (with four establishments) and Lebanon h
26、ave licensed casinos. The largest casino is Casino du Liban, located in Jounieh, Lebanon with 547 tables and 365 slot machines. Other countries that have casinos include Egypt with the Cairo Sheraton, Casino Austria of Egypt and Casino dEgypt. However, in the Middle East not all casinos have license
27、s. There are, however, licenses required for cruise casinos. There are only a small number of legal casinos in this region, with industry growth likely to remain low. Caribbean The Caribbean has 15 countries with a casino establishment, with about 114. The Netherlands Antilles has 25 casinos and the
28、 Dominican Republic has 22. Puerto Rico has 17 casinos and Aruba and Jamaica have 10 each. Antigua and Barbuda has six casinos. The largest casino is Princess Port de Plaisance Hotel and Casino located at Cole Bay, Sint Maarten. It also offers cruise casinos and is a major online gambling region for
29、 operators to locate. Growth in the casino industry is expected to continue in this region, partly due to strict regulation of the industry in the United States, and this being a favored tourist destination for US residents and nationalities. Central America Central America has six countries with at
30、 least one casino establishment. The most casinos are located in Costa Rica, with 37 casinos and 1,224 slots. The largest casino is Casino Majestic with 36 tables and 978 slots. Belize has two casinos, El Salvador has one, Honduras has two, Nicaragua has 10 and Panama has 34 establishments. Panamas
31、newest casino is the Veneto Hotel & Casino, which opened in November 2005. Due to the small number of casinos in this region, contribution of this area to industry growth will remain low. WWW.IBISWORLD.COM Global Casinos & Online Gambling November 2011 16 Latin America Latin America has nine countri
32、es with at least one casino. Argentina has 79 casinos and 12,318 slot machines. The largest casino is Casino de Tigre located in Tigre, Argentina, with 74 tables and 1,700 slot machines. Thunderbird Corp has four casinos in Panama, with joint ventures in Chile and Venezuela. Due to the small number
33、of casinos in this region, contribution of this area to industry growth will remain low. Africa There are 29 countries with casino establishments, including racinos, in South Africa, Botswana, Cameroon, Ghana, Namibia, Zimbabwe and Uganda. South Africa has 44 casinos with 37,599 slot machines. The l
34、argest casino is Grandwest Casino and Entertainment World located in Cape Town, with 60 tables and 3,500 slot machines. There are also numerous illegal casinos in operation throughout the continent. Due to the small number of casinos in this region, contribution of this area to industry growth will
35、remain low. Oceania There are five countries with 17 casino establishments and 19,470 slots, mostly located in Australia. Crown Casino in Melbourne, Victoria is the largest establishment with 350 tables and 1,500 slot machines. The two largest operators are Crown Casinos Ltd and Echo Entertainment,
36、both of which operate casinos in two states. Saturation for casinos in Australia and New Zealand has been reached and overall industry growth is low. WWW.IBISWORLD.COM Global Casinos & Online Gambling November 2011 17 Competitive Landscape Market Share Concentration Industry concentration is low. IB
37、ISWorld estimates that the top four players account for about 25% of the available market share, providing this industry with a low level of concentration. With the 2005 merger between Caesars and Harrahs and MGM and Mandalay, these two operators are estimated to have a dominant position in the US s
38、egment of this industry, and with the ability to expand internationally. The level of industry concentration is increasing significantly among mega-casino operators, and they are expanding internationally. For instance, expansion by casino operators such as Las Vegas Sands and Genting Berhad to both
39、 North American and Asian locations during the past decade is leading to these companies to riding the wave of industry revenue growth as more locations legalize casino operations. The level of industry concentration is expected by IBISWorld to increase slowly over the next five years, due to some c
40、ontinuing mergers and international expansion and acquisition by the largest operators. Key Success Factors The key success factors in the Global Casinos & Online Gambling industry are: Market research and understanding It is important to continuously monitor the needs of the patrons to always meet
41、their needs, to ensure high repeat custom, and to get good word-of-mouth recommendations. Having a loyal customer base Having a loyal high stake in domestic and international gambling and other markets helps ensure high repeat business. Ability to attract local support/patronage The domestic market
42、is generally the most important to most casinos so it is important to pay particular attention to the needs of these clients. Close monitoring of competition It is important to continue to monitor developments in racinos and other direct competitors to casinos. Access to multiskilled and flexible wo
43、rkforce Having a flexible and multiskilled workforce ensures high productivity and worthwhile use of staff. Access to the latest available and most efficient technology and techniques Having the latest table games and slot machines attracts new and repeat guests. WWW.IBISWORLD.COM Global Casinos & O
44、nline Gambling November 2011 18 Cost Structure Benchmarks Wages 30.6% Marketing/promotional 9.8% General & Admin 8.8% Purchases 7.8% Depreciation 6.5% Utilities 2.2% Rent 2.0% Other 23.5% Profit 8.8% The major cost is wages, which can account for almost a third of total revenue. The casino industry
45、has a high labor content, both in terms of the casino and especially with its accommodation elements, both of which operate 24-hours a day and with a need for personal and hospitable service. There is an especially large labor component in all back-of-house areas, including cleaning, maintenance and
46、 management and administration. Profit levels in the industry have been recovering since the global financial crisis, particularly as industry revenue moves to Asia. Nonetheless, increases in government gaming taxes have a harsh effect on the financials of operators, particularly profit levels, and
47、can in some cases lead to reduced employment and expenditure on other items. In addition, rapid changes in revenue, particularly downwards, have a drastic effect on profits, given the high fixed costs associated with buildings and equipment and maintaining a high level of guest and gambler related s
48、ervices. This is having an effect currently on casino industry performance, from the global economic recession. Marketing and promotions used to attract and retain clients are also a significant expense item, including for regular player programs. There is also the need to regularly update slot mach
49、ines and with many operators now replacing their coin- operated machines with ticket and cards, where this is allowed. There are some significant cost savings in moving away from the coin-operated machines, however, it does require some initial increased capital investment for new machines. Due to the highly competitive nature of the industry, there is a need to regularly update and upgrade facilities to attract and retain visitors. This is particularly important for the fast growing VIP revenue source,