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Casinos in Australia Industry Market Research Report Now Updated by IBISWorld
Date:7/12/2014

Melbourne, Australia (PRWEB) July 12, 2014

Casinos in Australia have grown over the past five years, despite rising competition from international and online casinos. Revenue is estimated to increase at a compound annual 2.9% over the five years through 2014-15. Greater per capita gambling expenditure has assisted financial performance, with consumers demanding more gaming services. Rises in discretionary income levels have also assisted revenue growth, as patrons have spent more money on non-essential items such as casino gambling services. Revenue is estimated to grow by 0.4% in 2014-15, to reach $5.6 billion. The industry's two largest players, Crown and Echo Entertainment, generate a majority of the industry's revenue. These two firms have increased market share concentration and dominance over the industry through significant capital investment projects. According to IBISWorld industry analyst Spencer Little, “domestic casinos face intense competition from international and online casinos, particularly for premium and VIP gamblers.” These patrons are targeted by domestic casinos as they place high-stakes wagers that can generate large amounts of revenue.

Continuing increases in per capita gambling expenditure, tourism levels and household discretionary income levels will all assist revenue growth over the next five years. In addition, “construction of three new casinos has recently been proposed and preliminary approval has been granted to these three firms,” says Little. Two casinos in Queensland, one in Cairns and one on the Gold Coast are anticipated to be operational by 2018-19. Crown has projected that its new hi
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