In recent years, Asia has positioned as the largest betting market on the planet. The massive growth began in 2006, when the novel gaming industry in Macau overtook the Las Vegas Strip as the world’s biggest gaming hub. According to Frank Fahrenkopf, president of the American Gaming Association, Macau now boasts a gaming market almost four times larger than Las Vegas casino and gaming industry. With about three dozen casinos, Macau raked in $23.5 billion in casino revenue last year. The figure is expected to grow by between 25% and 50% this year, said Fahrenkopf.
In 2010, Singapore emerged as Asia’s new gambling destination after the opening of two resort casinos. After only one year of operations, the two resort casinos reported $5.1 billion in gaming revenues in 2010, and according to gaming experts, the sum is expected to increase to $6.4 billion this year. A report citing research by the Royal Bank of Scotland has suggested the revenue at Las Vegas casinos is expected to reach $6.2 billion this year.
“Now more than a year old, the two integrated resorts in Singapore have exceeded all expectations and turned the nation into Asia’s second global gaming superpower. The country’s gaming market will likely overtake Las Vegas as the world’s second-largest gaming center as early as this year,” said Fahrenkopf in news conference held at the Global Gaming Expo Asia in Macau.