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 Casino Industry Still Recording Economic Growth

casino industry

Catena Media

The casino industry has been facing a lot of issues since the COVID 19 lockdown. The business has been low and hectic for the brick and mortar casinos worldwide. On the other hand, online pokies have been recording more real money sells than before.

Brick and mortar casinos have been having to shut down because they are being considered as high-risk areas.  And some of those casinos that have been open in Melbourne are having to shut down because the virus has started thriving again.

Also, they are having to deal with and adapting to the new COVID 19 rulers and operating conditions. The whole casino gaming process is even more complicated than ever. But still, according to Catena Media, there is still an amount of growth that is taking part.

Casino Industry Expected to Grow by 25%

According to Catena Media, the casino industry is expected to record a 25% next year. And most of the analysis is based on predictions that have been done prior to the COVID 19 outbreak. Therefore, they might be a little adjustment that needs to be done to the numbers.

Although land casinos have recorded up to $130 billion in revenue in the past few years, this year was one of the hardest years for the casinos. Therefore, research-based on predictions may not be worth it after all.

For instance, some of the casinos have been left with millions in debt. And other big casinos like The Stars were losing over AU$30 million per day during the COVID lockdown. If things keep on going the same way and the virus keeps spreading, then the casinos will soon run out of the money they had made during the last few years.

Catena Media Keeping Track on Progress in the Casinos

casino industry

Catena Media recently released statistics on the casino industry.

Joevrem Curmi, a product specialist at Catena Media said that the results of the survey shocked them considering that it has been a tough first quarter of the year for them.

“The results are fascinating and although the world is facing some serious challenges at the moment, the outlook is positive for both land-based and online casinos as we progress towards the middle of the 21st Century,” said Curmi.

The research also establishes the fact that the casino industry is the second most popular industry in the world. Which explains why it is very vital to economies in different parts of the world.

More Statistics Made on the Different Aspects of Casinos

Catena Media also made evaluations on other different aspects of the casino industry. For example, there are a lot more bets that are being made at casinos in the past 10 years. Therefore, the number of best has increased by 26%.

Additionally, lesser people are now betting on poker and more people are playing lotteries for their real money gaming. Other statistics were based on the losses, the wins and

Conclusion

There is still hope for the casino industry since the year is still progressing. Therefore, all we can do is keep our fingers crossed. But, it looks like the online casino industry is thriving because there are no risks involved.

Australian Casino Industry FAQs

This will depend on a particular casino. But, before the COVID-19 lockdown, most land casino resorts would make more than AUD500 million per year.
Land casinos record the highest revenues per year. Meaning, they are among the highest taxpayers. Hence, they can help give the economy the boost that it needs to stay afloat.
Yes, it is legal to gamble in Australia. However, online casinos are prohibited to operate in Australia. But, Kiwi players can still access online casino gaming from foreign providers.
Yes, you can. There are a lot of people that have won millions from online casinos. Therefore, you can try it out. You never know.
Blackjack has the best winning odds when it comes to online casino table games. Additionally, it comes with a lot of variations for you to have fun with.



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