Singapore is set to overtake Las Vegas as the world’s second-largest gambling hub this year, a US gaming industry head said Tuesday, as Asia cements its place as a major betting market.
Singapore has emerged as Asia’s hottest new gambling destination with a revamped cityscape and billions of dollars pouring into the economy, after the opening of two resort casinos in 2010.
The strong growth came after Macau — the world’s biggest gaming hub — leapfrogged Las Vegas in gaming revenue and continues to post record-breaking growth, thanks to burgeoning numbers of wealthy Asians.
The two resort casinos in Singapore posted $5.1 billion in gaming revenues in 2010, a figure forecast to rise to $6.4 billion this year, according to Frank Fahrenkopf, president of the American Gaming Association.
A report citing research by the Royal Bank of Scotland has suggested Las Vegas will take $6.2 billion this year. – Source
