NEW YORK, Feb. 3, 2015 (GLOBE NEWSWIRE) -- Glorywin Entertainment Group (OTCQB:GWIN), one of the largest online casino operators in the world has announced their growth forecasts for 2015. Interactive/online gambling is one of the biggest growth drivers in the gambling industry, growing almost 400% in the past 10 years from $10.1 billion in 2004 to $39.5 billion in 2014.
According to Research & Markets "about 51% of the world's population takes part in some form of gambling every year, thus signifying obvious financial benefits from online gambling websites. With the expansion of the online gambling industry, players have come to expect only the highest quality of online gambling facilities."
Since 2012, the gaming industry in Macau has consistently brought in more revenue than the entire commercial casino industry in the U.S, outpacing Wall Street's conservative projections. In 2013, Macau reported revenue of $45 billion, up 20% from the previous year and almost 7 times higher than Las Vegas revenue of $6.5 billion.
Glorywin has seen 4% growth month over month for 2014 and is projecting that number to increase to 5-6% for 2015. The company brought in over $800,000 in net profit for Q2 2014 while expecting to add an additional 4 to 5 junkets to their active base of 25 throughout the next 12 months.
The executive team at Glorywin is actively seeking strategic partnerships with land-based Casinos in Asia and is weighing prospects about further developments throughout the U.S. and Canada. The company's Chief Operating Officer, Mr. Zhen Long Ho, is currently in the progress of designing and developing a mobile application that will be available by the second quarter of 2015.
The mobile gambling market alone is expected to generate $11.4 billion in revenue for 2015 and garner 35% penetration of the overall casino market, up from 3% in 2012. By 2018, the amount of bets placed via a mobile device is expected to exceed $100 billion.
Glorywin Entertainment Group is positioned to become a dominant player in both online and mobile gaming channels, building on their existing infrastructure and junket operations throughout 2015. Company CEO Mr. Eng Wah Kung states "This past year has been phenomenal for our company and our team, and we are looking forward to these exciting new developments to put us at the forefront of the online gaming industry."
Forward-Looking Statements
This news release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and involve risks and uncertainties, which may cause actual results to differ materially from those set forth in the statements. The forward-looking statements may include statements regarding product development, product potential, or financial performance. No forward-looking statement can be guaranteed and actual results may differ materially from those projected. Glorywin Entertainment Group, Inc. undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. Visit our website at, www.glorywinentertainment.com.
Contact
Anthony W. Licausi
V.P. of Corporate Development
Investor Relations Unit
Daniels & Co.
anthony@dcodevelopment.com
855.341.4769
http://www.dcodevelopment.com