S'pore gambling industry set to overtake Las Vegas
Gambling-industry executives say Singapore is set to overtake Las Vegas to become the world's second-biggest casino market as early as this year.
Mr Frank Fahrenkopf, president of the American Gaming Association, said Singapore raked in US$5.1 billion (S$6.3 billion) in gaming revenue last year and could bring in up to US$6.4 billion this year.
The country's first two casinos Marina Bay Sands and Resorts World Sentosa opened last year.
Las Vegas pulled in US$5.8 billion in casino revenue last year, but is a mature market with little potential for big growth.
Mr Fahrenkopf made the prediction yesterday at the start of a gambling-industry conference in Macau.
He said "it's going to be an extremely good year" in Singapore and in Macau, where annual revenue will grow 25 to 50 per cent this year.
~News courtesy of Channel Newsasia~
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