Asia gaming market seen eclipsing US

09:05, June 09, 2010      

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Asia's gaming market could overtake the US in as little as three years as the region's rich flock to glittering gambling hubs such as Macao, a survey said Tuesday.

While Macao has already leapfrogged Las Vegas in gaming revenue and posts record-breaking growth, Singapore and other Southeast Asian nations are now building up their gambling sectors to cash in on its exploding popularity.

The survey of industry experts was released in Macao, where thousands of delegates are attending the three-day Global Gaming Expo Asia, which opened Tuesday.

About two thirds of those polled said US casino revenue —including from Las Vegas as well as Atlantic City and Reno —would be eclipsed by Asia in three to five years.

Some even saw the region becoming number one in a year, while others said it could take a decade.

"The growth of the market in Asia has been incredible," Frank Fahrenkopf, head of the American Gaming Association, told a press briefing Tuesday.

"The survey found that all the respondents expected Asia to overtake the US (in gaming revenues)," he said, adding the region had "unlimited" potential as a gambling hub.

The survey also said Macao would remain the region's dominant market, while some expected Japan to steal the number-two spot from Singapore, even though the country is still debating whether to legalize casinos.

Source: Global Times


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