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Global gambling revenue to hit $144 billion in 2011 6-21-07

LAS VEGAS (AP) - Global gambling revenue is estimated to hit $144 billion (euro107.25 billion) in 2011 after growing at an annually compounded rate of 7.2 percent a year, according to a PricewaterhouseCoopers LLP report being released Thursday.

Gambling revenue is expected to rise from $101.6 billion (euro75.67 billion) in 2006, driven by new casinos and upgrades of existing casinos in all regions of the world, the report said.

Revenue in the United States is expected to grow 6.7 percent a year to $79.6 billion (euro59.28 billion) from $57.5 billion (euro42.82 billion), while in the Asia Pacific region it is forecast to grow 15.7 percent annually to $30.3 billion (euro22.57 billion) from $14.6 billion (euro10.87 billion), becoming the world's second largest casino market.

Legal casino and online gambling revenue in the region encompassing Europe, the Middle East and Africa is expected to rise 1.9 percent a year to $27.8 billion (euro20.7 billion) from $25.2 billion (euro18.77 billion). Gambling revenue in Canada is seen rising to $5.9 billion (euro4.39 billion) from $4 billion (euro2.98 billion), while in Latin America, revenues are expected to climb to $495 million (euro368.66 million) from $278 million (euro207.05 million).

Strict regulations banning the transfer of funds between gambling sites and U.S. residents are expected to have an adverse affect on U.K.-based online operators, while a mix of sports betting restrictions and new licenses will hurt sports betting in Europe overall, the report said.

In the United States, Nevada revenues are projected to grow 7.5 percent a year to $18.2 billion (euro13.55 billion), but Atlantic City, New Jersey, revenues are forecast to slip 0.1 percent a year to $5.2 billion (euro3.87 billion).

While new projects in Las Vegas are seen driving Nevada growth, the report said New Jersey's gambling hub would be hurt by the availability of slot machines in nearby Pennsylvania.

U.S. tribal casinos were seen generating $36.5 billion (euro27.18 billion) in 2011, up 7.6 percent per year from $25.3 billion (euro18.84 billion) in 2006. Regional U.S. casinos outside of Nevada and Atlantic City and not including tribal casinos were seen gaining 6.6 percent a year to $19.5 billion (euro14.52 billion), while sports betting was seen rising 5.8 percent per year to $255 million (euro189.92 million).
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