Navigation Links
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 high stakes VIP casino in Barangaroo near Sydney will be completed by November 2019. These new luxury casinos and hotels are expected to contribute to the industry's revenue growth over the next five years. However, competition from offshore and online casinos is expected to limit financial performance over this period. Casinos in Macau, Singapore and potentially Japan could capture demand from premium and VIP gamblers that may have otherwise travelled to Australia.

The Casinos industry has a high market share concentration. The major players are Crown Limited, Echo Entertainment Group Limited and SKYCITY Entertainment Group Limited. The top four firms operate 10 of the industry's 13 casinos. Crown has increased its market share concentration over the past five years through significant development and refurbishments of its existing casinos, hotels and entertainment facilities. As a result, market share concentration for the entire industry has also increased over the past five years.

For more information, visit IBISWorld’s Casinos report in Australia industry page.

Follow IBISWorld on Twitter: http://twitter.com/#!/ibisworldau

IBISWorld Industry Report Key Topics

Companies in the industry primarily operate facilities with a range of gambling services, such as table wagering games and electronic gaming machines. Firms also generate revenue from associated entertainment, hospitality and accommodation facilities.

Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
International Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalisation
Major Companies
Operating Conditions
Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance
Key Statistics
Industry Data
Annual Change
Key Ratios

About IBISWorld Inc.
Recognised as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every Australian industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Melbourne, IBISWorld serves a range of business, professional service and government organisations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com.au or call (03) 9655 3886.

Read the full story at http://www.prweb.com/releases/2014/07/prweb12011475.htm.


'/>"/>
Source: PRWeb
Copyright©2014 Vocus, Inc.
All rights reserved

Related medicine news :

1. More casinos does not mean more gamblers
2. Organic Crop Farming in Australia Industry Market Research Report Now Available from IBISWorld
3. Treating gum disease improves vascular health in Indigenous Australians: Study
4. Australian state has higher rate of hypothermia deaths than Sweden
5. Spiracur Secures TGA Approval for SNaP Wound Care System and Announces Distribution Partnership in Australia
6. Top Designer Handbags For Ladies From the USA, Canada, Australia And Europe Recommended by SeeTips.com
7. The Best Web Hosting and Cloud Storage Service Provider For Webmasters From the USA, UK, Canada, Australia and Europe - Announced By SeeTips.com
8. Best Web Hosting at Cheap Prices for Customers from USA, UK, Canada, Australia and Europe – VPS and Cloud Hosting Reviews by SeeTips.com
9. Melanoma International Foundation Award Seal of Approval to Children’s Swimwear Company Platypus Australia for Providing Exemplary Products and Promoting Sun Safety
10. Building Pest Control Services in Australia Industry Market Research Report Now Updated by IBISWorld
11. Under Cover Vegetable Growing in Australia Industry Market Research Report Now Updated by IBISWorld
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/27/2016)... ... June 27, 2016 , ... A revolution is underway. ... ambulance transport experience for the millions of people who require these medical transport ... taxi industry through the use of technology. Now, SmartEMS has put forth an ...
(Date:6/26/2016)... ... 26, 2016 , ... PawPaws brand pet supplements owned by Whole ... enhance the health of felines. The formula is all-natural and is made from Chinese ... PawPaws Cat Kidney Support Supplement Soft Chews are Astragalus Root Extract and ...
(Date:6/25/2016)... ... 25, 2016 , ... The temporary closing of Bruton Memorial Library on June 21 due to ... a new, often overlooked aspect of head lice: the parasite’s ability to live away from ... common occurrence, but a necessary one in the event that lice have simply gotten out ...
(Date:6/25/2016)... ... ... On Friday, June 10, Van Mitchell, Secretary of the Maryland Department of Health and ... their exemplary accomplishments in worksite health promotion. , The Wellness at Work Awards took ... the BWI Marriott in Linthicum Heights. iHire was one of 42 businesses to receive ...
(Date:6/24/2016)... , ... June 24, 2016 , ... Marcy was in a crisis. Her son James, ... out at his family verbally and physically. , “When something upset him, he couldn’t control ... use it. He would throw rocks at my other children and say he was going ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)...  Collagen Matrix, Inc., ("Collagen Matrix") the driving ... collagen and mineral based medical devices for tissue ... Messer has joined the company as Vice ... growing portfolio of oral surgery, neurosurgery, orthopaedic and ... the Collagen Matrix executive team as an accomplished ...
(Date:6/24/2016)... , June 24, 2016 ... the "Structural Electronics 2015-2025: Applications, Technologies, Forecasts" ... In-Mold Electronics, Smart Skin, Structural ... Structural electronics involves electronic and/or ... protective structures, replacing dumb structures such as vehicle ...
(Date:6/24/2016)... Research and Markets has announced the addition of ... report to their offering. ... The World Market for Companion Diagnostics covers the world market ... the report includes the following: , World ... Region (N. America, EU, ROW), 2015-2020 , World IVD ...
Breaking Medicine Technology: