The gaming market in Australia has topped the $1 billion mark for the first time last financial yearBoston (EON) - The gaming market in Australia has topped the $1 billion mark for the first time last financial year.

This is a huge increase in growth during the second half of the 2007 financial year as there was a 30% increase in gaming related sales. This pushed the gaming market in Australia past the $1 billion mark.

The Interactive Entertainment Association of Australia stated that this is “spectacular for the Australian gaming industry. Breaking through the $1 billion mark highlights the seriousness and sheer scale of the industry in Australia.”

$150 million of that money was spent on 500,000 gaming consoles with $264 million being spent on 5.5 million games during the final six months to June 30th.