Arab Today, arab today singapore to overtake vegas this year
Last Updated : GMT 21:13:05
Arab Today, arab today
Arab Today, arab today

Singapore to overtake Vegas this year

Arab Today, arab today

Arab Today, arab today Singapore to overtake Vegas this year

Macau - AFP

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. \"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,\" said Fahrenkopf. \"The country\'s gaming market will likely overtake Las Vegas as the world\'s second-largest gaming centre as early as this year,\" he told a news conference on the sidelines of the Global Gaming Expo Asia, which opened Tuesday in Macau. The first Singapore casino opened in Malaysian-controlled Resorts World Sentosa on February 14, 2010, with US-based Las Vegas Sands following two months later as the world economy was still clawing itself out of recession. The two casinos have largely been credited with turning around Singapore\'s tourism sector, helping the country welcome a record 11.6 million visitors last year. Asia\'s strong growth in the gaming industry stands in sharp contrast to US venues such as the Las Vegas Strip, previously a byword for gambling but which is now suffering the effects of the global downturn. The Sahara, an iconic Las Vegas hotel that once hosted names like Elvis Presley, Jerry Lewis, Frank Sinatra and the Beatles, closed its doors last month, even as many Asian casinos are planning expansions. Fahrenkopf said potentials in other Asian countries besides Macau and Singapore would also help spur growth, with several multi-billion dollar casino development projects due for completion over the next two years. \"Other developments in Asia are helping to clearly establish the region as the hottest gaming market in the world,\" he said, noting the sector is expanding at record levels in Cambodia and Laos, while Sri Lanka is set to implement legal gambling next year. He said the rapid growth in Singapore would not threaten Macau\'s position, saying the former Portuguese colony has seen \"dramatic growth in almost every measurable category\", after it opened its doors to foreign competition. But he urged Macau to look into challenges such as labour and infrastructure issues, as well as a cap of 5,500 gaming tables allowed before 2013. \"Clearly this is not enough... It is a problem that the Macau government has to deal with,\" he said of the city, which now boasts a gaming market that is almost four times as large as that of Las Vegas. Macau\'s gaming scene was monopolised by tycoon Stanley Ho for decades until it opened to foreign competition in 2002. Since then, a stream of Las Vegas-based gaming companies have flooded into the southern Chinese city.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today singapore to overtake vegas this year Arab Today, arab today singapore to overtake vegas this year

 



Arab Today, arab today
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Top Yemen commander killed

GMT 09:55 2017 Wednesday ,22 February

Top Yemen commander killed
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 11:35 2017 Wednesday ,22 February

British economy grows 0.7% in final quarter of 2016

GMT 06:04 2017 Wednesday ,22 February

Hammond closes in on budget goal

GMT 05:34 2017 Wednesday ,22 February

Euro zone economy outlook shines

GMT 04:10 2017 Wednesday ,22 February

US stocks finish at another all-time high

GMT 02:31 2017 Wednesday ,22 February

Arms deals worth over AED6.9 bn sealed on day two of IDEX
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Janat pleased for issuing 'Good Morning'

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 05:15 2017 Tuesday ,21 February

Omega 3 can reduce asthma cases

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday