Asia could surpass
U.S. in casino gambling revenue by 2012
to a survey by the American Gaming Association (AGA), Asia could
easily surpass the U.S. in casino gambling revenue by year 2012.
The booming casino resorts in Macau, the only place in China
where gambling is legal, as well as new casinos in Singapore
could drive the casino gambling revenues to a point higher than
those in the United States. According to AGA, in 2007 U.S.
casinos raked up $34.1 billion in revenues, while Asia's casino
gambling market was estimated between $15 and $20 billion. Of
the 23 industry executives, analysts and academics polled by AGA
in the survey, more than 80% said Asia's dominance was very
likely or likely. "There is no doubt this is an exciting time
in Asia for the gaming industry," Frank Fahrenkopf,
president and CEO of the American Gaming Association was quoted.
Also in the survey, which was released
ahead of the Global Gaming Expo Asia regional gambling
conference in Macau, majority of the surveyed expected Macau to
remain the gambling market leader in Asia. According to the
Chinese government, the Macau casinos took in $10.3 billion last
year and in 2006 the Chinese gambling enclave surpassed the Las
Vegas Strip as the world's top gambling center.