Bullish View From The East
Published: Saturday, July 02, 2005 Online-Casinos.com
BULLISH VIEW FROM THE EAST
Singapore conference experts predict major growth in online gambling
Reporting on the proceedings of a recent conference in the region (see last week's Online-Casinos.com & InfoPowa News), the Singapore Business Times says two upcoming integrated resorts in the area might make bricks-and-mortar casinos the talk of the town, but online gambling is where the bigger growth will be.
Quoting industry experts, the report predicts that online gambling will grow at 50 to 70 per cent a year for the next five to ten years. Industry studies also indicate that by next year, global Internet gambling revenues will have grown to US$12.6 billion.
"I don't think that's unreasonable," Tim Levene, chief executive of gambling investments fund Intellilogica is quoted as saying. "The percentage going online to gamble is still a tiny percentage in terms of the international online community."
Well known turnkey provider Realtime Gaming says it has seen a 20 per cent growth for the last six years, and gross profit margins of over 36 per cent. With more than 60 clients, the company has handled over US$20 billion worth of wagers over a five year period.
RGT vice-chairman, Daniel Schultz, is quoted as saying there is explosive potential for online gambling because land for hosting face-to-face gambling could be limited and expensive.
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