Singapore challenges Las Vegas in casino revenue
With $5.85 billion of revenue from its two casino complexes in 2012, Singapore is snapping at the heels of Las Vegas for second place. The famed US gambling strip saw revenues of $6 billion from its around 40 casinos last year.
While China’s Macau remains clearly in the lead, with around $40 billion in revenue per year from its more than 30 casinos, Singapore is steadily catching up, with a much higher percentage of so-called VIP gamblers with high stakes.
Singapore’s Marina Bay Sands and Resorts World Sentosa casinos have also created over 50,000 jobs. In 2010, the first year of the casinos, spending by visitors to the city-state surged by 49 per cent from the year before, largely attributed to the gambling dens.
By 2015, Asia-Pacific gamblers are set to overtake those in the US, according to a study of consultancy PricewaterhouseCoopers, with an estimated 43.4 per cent of the world’s wagers hitting the tables in Macao, Singapore and other regional venues, against 40.1 per cent in the US.
Worldwide gaming revenues will reach $182.8 billion that year, the consultancy said, up 55 per cent from 2010.
The Philippines and Japan have also expressed interest in becoming major gambling venues. A Citibank study estimated that Japan has the potential for $15 billion annually of gambling revenues.
See our gallery of the largest casinos in ASEAN here.
With $5.85 billion of revenue from its two casino complexes in 2012, Singapore is snapping at the heels of Las Vegas for second place. The famed US gambling strip saw revenues of $6 billion from its around 40 casinos last year. While China's Macau remains clearly in the lead, with around $40 billion in revenue per year from its more than 30 casinos, Singapore is steadily catching up, with a much higher percentage of so-called VIP gamblers with high stakes. Singapore's Marina Bay Sands and Resorts World Sentosa casinos have also created over 50,000 jobs. In 2010, the first year...
With $5.85 billion of revenue from its two casino complexes in 2012, Singapore is snapping at the heels of Las Vegas for second place. The famed US gambling strip saw revenues of $6 billion from its around 40 casinos last year.
While China’s Macau remains clearly in the lead, with around $40 billion in revenue per year from its more than 30 casinos, Singapore is steadily catching up, with a much higher percentage of so-called VIP gamblers with high stakes.
Singapore’s Marina Bay Sands and Resorts World Sentosa casinos have also created over 50,000 jobs. In 2010, the first year of the casinos, spending by visitors to the city-state surged by 49 per cent from the year before, largely attributed to the gambling dens.
By 2015, Asia-Pacific gamblers are set to overtake those in the US, according to a study of consultancy PricewaterhouseCoopers, with an estimated 43.4 per cent of the world’s wagers hitting the tables in Macao, Singapore and other regional venues, against 40.1 per cent in the US.
Worldwide gaming revenues will reach $182.8 billion that year, the consultancy said, up 55 per cent from 2010.
The Philippines and Japan have also expressed interest in becoming major gambling venues. A Citibank study estimated that Japan has the potential for $15 billion annually of gambling revenues.
See our gallery of the largest casinos in ASEAN here.
