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ASIA GAMBLING SET TO OVERTAKE U.S. NUMBERS
Macau casino revenues have already overtaken those in Las Vegas, assisted by major American investment in the island, and according to a recent study by the American Gaming Association, Asia could overtake the US by 2012.
The AGA survey canvassed opinions from 23 well-informed gambling industry executives, analysts and academics, with most of the respondents opining that Asia's gaming industry revenues could surpass that of the U.S. by 2012. Over 80 percent of respondents said Asia's dominance was "very likely" or at the least, "likely."
Frank Fahrenkopf, the president of the Association told the the Global Gaming Expo in Macau this week: "The results... foretell a remarkable future for the Asian gaming market. There is no doubt this is an exciting time in Asia for the gaming industry."
The study revealed that successful resorts in Singapore, Macau and other Asian countries are driving growth. Of 23 industry executives, analysts and academics polled,
American casinos earned $34.1 billion in 2007, according to the AGA. Asia's revenue was estimated at between $15 billion and $20 billion, Fahrenkopf said.
Unsurprisingly, most of the respondents felt that Macau would remain Asia's market leader despite recent government moves to curtail further licencing. The southern Chinese island gambling centre reported that revenues grew at an annualised rate of 41 percent from 2005 and 2007. Last year, Macau casinos took in $10.3 billion, according to SAR government numbers, overtaking the Las Vegas Strip as the world's top gambling mecca
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