Gambling Industry In Sri Lanka
Bally’s, one of the leading casinos in Colombo, has taken its services online to tap into the global online gambling industry, estimated to be worth nearly US$ 50 billion.
A new website, in addition to its main website, has been set up for this purpose by Bally’s in collaboration with BetConstruct, an Armenian a software development company that provides products and services for the gambling industry.
According to Statista, the online gambling industry was worth US$ 47 billion in 2017 and will close in on US$ 60 billion by 2020, fuelled by relaxed regulations from Governments around the world and changing customer preferences.
Casino Careers is a free resource to candidates interested in finding employment in casino hotel resorts, riverboats, cruise lines, racetracks, gaming technology, manufacturing, and pari-mutuel companies. Candidates post a free resume in a secure database and apply to Employers through posted jobs. Gaming Companies post opportunities on a Job Board and search a Resume Database.
BetConstruct said in a statement that it has developed a custom solution for Bally’s casino which meets the original branding and promoting Bally’s to web players worldwide, as part of a special project for land-based casino operators to target the highly profitable online gaming sector.
Arimac is Sri lanka's premier end-to-end Digital Agency, providing latest technological solutions in, Augmented Reality, Virtual Reality, Artificial Intelligence, Machine Learning, App Design and Game Development. Seven Deuce Gaming is not based in Sri Lanka, but most of their developers are Sri Lankan, and some of them are from Dawn Patrol Games. Seven Deuce does a lot of poker and casino games, if that’s your thing. Their games are for mobile and desktop, with a lot of them being developed in HTML5. Game Over ‒ Insert Coin. Sri Lanka - Sri Lanka - Demographic trends: At independence Sri Lanka had a population of about 6.5 million, which by the early 1990s had increased to more than 17 million. The rate of population growth averaged about 2.6 percent annually up to the early 1970s and declined steadily to below 1 percent at the turn of the 21st century. By the end of the civil war, the population had reached more.
BetConstruct said its software “combines the thrill of being on a gaming floor in a landed casino with the convenience of playing on a device linked to the Internet – on a desktop computer, tablet or a mobile phone”.
Bally’s Casino, owned by business tycoon Dhammika Perera, is situated in Colombo Fort and is popular with foreigners and affluent Sri Lankans.
Sri Lanka News
Casinos, which are highly regulated in Sri Lanka, have been under fire from the current Government. Earlier this year, the Central Bank of Sri Lanka (CBSL) introduced Customer Due Diligence rules for those carrying on businesses such as casinos and gambling houses, including such business carried out through the internet, which apply when a customer engages in financial transactions of US $ 3,000 or more.
Previously, in 2015, the Government imposed a Rs 1 billion (US $7 million) fee on the country’s four small-scale casino operators and doubled the annual casino levy from Rs 200 million to Rs 400 million, while imposing a 25% surtax on casino profits. It has also threatened a mandatory $100 casino entry fee, although that is yet to be imposed.
In the same year Prime Minister Ranil Wickremesinghe declared that casinos would not feature prominently in the tourism promotion or revenue generation plans of the Government and that Australian casino mogul James Packer was unwelcome in Sri Lanka, leading Packer to abandon a planned US$ 400 million casino and resort in Colombo.
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Gambling Industry In Sri Lanka Rupavahini
Video games have come a long way since the days of Pong, when bouncing a pixelated dot back and forth across a TV screen was considered state-of-the-art. From those humble beginnings, gaming has burgeoned into one of the most lucrative industries in the entertainment sector, racking up estimated revenues of USD 148.1 billion from over 2.3 billion gamers worldwide. With novel ideas, interactive features, dazzling graphics and groundbreaking technological advancements drawing in more and more hardcore aficionados from every corner of the world, the global gaming market is currently at an all-time high and well on track for a further decade of double-digit growth. However, despite the accelerated growth and flourishing forecasts that the industry has clocked in on a global context, the Sri Lankan gaming market itself is yet to step up to the plate and explore this unprecedented potential.
Gambling Industry In Sri Lankan
A phenomenal growth trajectory: According to Newzoo, world’s leading games and E-sports analytics engine, global gaming revenues have soared by 10.9% within the last year. With consumer spend on games expected to spike to USD 174 billion by 2021, Newzoo also forecasts a compound annual growth rate (CAGR) of 9.3% for the industry, between 2017 and 2021. Given that the global gaming industry accumulated a revenue of USD 70.6 billion in 2012, we are now looking at a remarkable 10-year CAGR of 11% for the period of 2012 to 2021. Considering that maintaining a double-digit growth rate for a decade is a truly phenomenal accomplishment for a single company, let alone an entire industry, it is evident that gaming is on one of the steepest growth trajectories within the entertainment sector, right alongside the music and film industries.
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Where’s the jackpot - mobile, console or PC?: A little over a decade ago, mobile gaming was not only at its infancy in terms of sales and profitability, it was also struggling to gain momentum and credibility. While the launch of the iPhone and its App Store may have created a considerable amount of buzz and hype for mobile games, it didn’t really spark a steady revenue influx until 2012. By 2012, the advent of billions of smart devices across Asia, Europe and the Americas, combined with the growing consumer awareness of value-packed in-app purchases, had resulted in mobile gaming becoming a major revenue generator within the global games market. With a myriad of free-to-play games such as Clash of Clans and Candy Crush earning a spot on the home-screens of millions of smartphones and tabs across the globe, the mobile gaming industry is on its way to becoming a 90-billion-dollar industry by 2021. While the rise of mobile gaming hasn’t significantly cannibalized revenues from the PC and console segments, it has continued to outpace its counterparts, generating 47% of the revenues in the entire market in 2018. Console gaming clocked in as the second largest segment, accounting for 28% of total revenues, with PC gaming trailing close behind at 25%.
What’s holding Sri Lanka back?: Despite its over 50% Smartphone penetration, incredibly low-cost data and internet plans and robust talent pool of software engineers and game developers, Sri Lanka remains far from being able to map its gaming industry against the global market. While there are numerous locally developed games with tremendous potential, there is a clear lack of proper platforms that are geared to showcase and execute mobile and digital games - hence the reason for the hindered success of the Sri Lankan gaming market.
A platform geared to elevate the local gaming market: The first-ever portal of its kind in Sri Lanka, IMI Games is an innovative digital platform that delivers localized and curated multi-genre mini-games through a mobile application. Developed by our team at Arimac, the platform also enables game developers and other external parties to publish and showcase their creations to audiences around the world, thereby earning a return and garnering recognition for their ingenuity and prowess. With over 50 authentic local game titles under its wing, including Dadin Bidin, Endless Engine, Shoot Up, Sneky, Tuk Tuk and Comet Jump, IMI runs on a subscription-based pricing model, giving players the freedom to try out and review each game prior to payment. Having recently partnered with Vodafone Fiji, Arimac’s IMI Games is set to take the local gaming market to new heights and propel it into the international sphere.
IMI Games – the future of Sri Lankan gaming: Modified to work on multiple platforms and technical ecosystems, IMI Games features a unique smartness calculator which enables players to evaluate their performance, allowing them to hone their skills and become more competitive among fellow players. The portal also analyzes and rewards each player through an amalgamated universal leaderboard that measures six unique traits across each game, namely, speed, accuracy, memory, observation, calculation and decision making. Providing a diverse portfolio of single and multi-user games that can be customized to resonate with the demographics of specific countries, IMI has been thoughtfully designed to provide an enhanced gaming experience, whilst establishing a solid spot for Sri Lanka in the global market.
Even though Sri Lanka is yet to tap into the full potential of the global gaming industry, one thing is for sure – our island is brimming with potential and we are on the cusp of growing this industry and meeting the needs of a new generation of gamers. The journey may take time and it will involve industry leaders and top developers pushing boundaries and thinking outside the box, but I firmly believe that we are well on track to becoming a gaming hotspot in the region and making our very own mark on the global gaming industry.
To download and experience IMI Games please visit http://onelink.to/vhzbpt. To get to know about Arimac www.arimaclanka.com