Everyone is going nuts over the Isle of Man’s second casino licence, with over 300 companies begging to get involved in developing a casino on the island, Economic Development Minister John Shimmin has revealed.
In a report by Intergame, Shimmin announced the news of the large number of companies which had been approached over the land and said a shortlist of candidates is to be drawn up after the deadline of 31 January.
Though not all are happy about the decision to award a second casino licence on the island. The operator of the island’s only other casino at the Palace Hotel in Douglas – the Sefton Group – warned that with such a small population, the island could not sustain two profitable casinos. But are they just frightened of a little competition?
Earlier this week, TradaCasino.com became the Isle of Man’s latest licensed online casino after the Department of Economic Development granted the site a remote gambling licence.
In other casino and gambling news, Fitch Ratings has released a report forecasting the success of casino operators and gambling firms in 2012. It has said that casinos will experience varying levels of success as they continue expansions of margins and pay off debts.
However, PricewaterhouseCoopers has concluded in their recent report that global casino gaming revenues around the world will grow at 9.2% over the next five years, rising from $117.6 billion in 2010 to $182.8 billion by 2015. Then there’s the latest edition of Global Gaming Outlook, which analyses that the casino and gaming industry revenue will grow at an 18.3% from $34.3 billion in 2010 to $79.3 billion by 2015. Only time will tell.