Asia could surpass U.S. in casino gambling revenue by 2012

Asia could surpass U.S. in casino gambling revenue by 2012 According 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.

Published on 06/03/2008