iVegas Gaming Ltd?s (Borse:IVLF) new Chairman and President Adriano Cefai, confirmed that company is focusing the majority of it?s efforts in the last half of 2011 on the fast growing online and mobile gambling business, with an emphasis on Europe, South America and Asia.
?We are continuing to build a site that mirrors the Las Vegas experience with live entertainment, shopping, convention and gaming. We believe, however, that the majority of our revenues will come from gaming and we are focusing our expansion plans in the areas of casino games, sports book, poker and bingo.
The online gaming market represents one of the fastest growing segments of the gambling industry. H2 Gambling Capital reports that, in 2010, online gambling grew by 12.5 %. Last year, the gross win generated by the online gaming industry reached $29.95 billion. Online gaming revenues are expected to grow even more rapidly at 13% a year with revenues rising to $36 billion by 2012. By attracting online gaming users in the UK, South America, Europe and Asia, iVegas.com will swiftly establish itself as one of, if not the, premiere online entertainment network.
Along with gaming, iVegas plans to offer a Vegas-style retail mall and entertainment areas to the millions of visitors streaming through its virtual casinos. Recognizing the growing appetite for Web-based entertainment, the iVegas resorts will offer 24/7 streams of live shows and events through partnerships with some of the world?s most influential promoters.
Online shopping is increasing every year: according to Nielson Online in a recent report, ?more than 85 percent of the world?s online population has used the Internet to make a purchase.? Online sales rank in hundreds of billions of dollars per year. Forrester Research forecasts U.S. online retail sales will hit $247.8 billion by 2014, or 8% of retail sales (an increase from 9% in 2009).
?We want our gambling visitors to have as many options as they would if they visited a large gaming destination?, adds Mr. Cefai. ? That is why we are focused on adding more resort properties with extensive gambling and shopping options to the site.?
iVegas Gaming Ltd. Is based in Valetta, Malta and has been assembling a strong management and online marketing team, in-house developers and managers and third party providers around the world to build a unique and innovative entertainment network on the web. The online and virtual sites will allow its visitors to live, work and play in a virtual Vegas setting at www.iVegas.com. The company will have a multiple array of revenue streams thru the offering of online gambling, shopping, services, conventions, music and live events in a real-time interactive environment.
Source: http://www.ivegasgaming.com/ivegas-gaming-ltd-focuses-on-the-36-billion-online-gambling-market
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