A casino kingdom

By
Nelson Moura

The gaming market in the Asia Pacific (APAC) region will increase by a compound annual growth rate (CAGR) of 7.31 per cent until 2021, a report conducted by market research company Technavio concludes.
The study – ‘Report of Gambling Market in APAC 2017-2021’ – details the market landscape and its growth prospects over the coming year by analysing major factors such as drivers, opportunities and industry-specific challenges.
The research summary describes the APAC market as ‘highly competitive and fragmented due to the presence of several established vendors’, identifying MGM Resorts, Sands China, and SJM Holdings as the ‘key vendors’ in the region together with online gambling company 888 Holdings.
The report states that sports betting is currently ‘extremely’ popular among the younger segment and in countries where gambling is partially allowed due to the diversity of games the sector provides and its incentives, apart from cash prizes, attracting gamblers from a younger market.
‘Online gambling has enhanced the accessibility of the customers, and the governments in various parts of APAC are legalising portions of gambling due to its economic benefits,’ the study indicated.
However, despite the growth in online gambling the study considers that the ‘increasing number of tourists visiting APAC for gambling is fuelling the growth of the market in the traditional gambling segment’.
The report believes that although online gambling advantages such as allowing at-a-distance betting and its convenience, traditional gambling will still account for the majority of the market share up to 2021, with the lottery segment in particular set to grow more than 9 per cent in the next four years.
With casinos considered ‘one of the favourite tourist destinations and the most popular recreational spots,’ and with an increase in the number of new properties with more diverse gaming equipment, the study authors opine that the casino segment will still account for the ‘major share’ of the gambling market in APAC until 2021.