Asia will bear the brunt of the global gambling revenue lost by the COVID-19 pandemic, according to new research by Global Betting and Gaming Consultants for the latest edition of its Global Gambling Report.
Gambling revenues are predicted to fall by US$ 80 billion in 2020 because of the shutdown of venues around the world to halt the pandemic.
Asian gambling will account for US$ 29 billion (36%) of that lost revenue. GBGC has previously reported on the slump in visitor numbers to destinations such as Singapore and South Korea, as well as the precipitous fall in gaming revenues in Macau.
Gambling in Europe and North America will not be spared from the declines either. In each instance they will see revenues fall by around US$ 20 billion in 2020, compared to 2019.
GBGC anticipates gambling revenues will recover in 2021 but it will be 2023 before they return to the levels reached in 2019.
Subscribing to GBGC’s specialist gambling reports will enable clients to keep up to date with the fast-moving developments in the world’s gambling markets over the next 12 months.
GBGC’s comprehensive Global Gambling Report is in its 15th edition in 2020. In the new edition GBGC has extended the forecasts until 2025 and has given its view as to how gambling will fare in the post-COVID world. There are also updated reports for more than 250 individual gambling jurisdictions.