Gambling conglomerates know where the money is these days.
It’s in countries and regions across Asia-Pacific, where casinos are being built at an unprecedented rate.
The name of the game is making money and that’s where the expendable income is these days. Asia Pacific. Not Las Vegas. Not Atlantic City.
Although…truth is…all the major U.S. based casinos have built casinos in the Asia Pacific to take advantage of the gambling fever in the far east.
The Macao special administrative region (SAR) of China, Singapore and South Korea are good examples.
The first two are making money hand over fist as gamblers flock to glitzy new mega resorts. The third is looking to expand its relatively small industry.
Politicians in Japan want to get in on the action with new legislation and Taiwan is also considering doing something.
“The gambling industry in Asia will continue to grow in the next three years,” says Lantis Li, a gaming analyst at Capital Group in Hong Kong. “The market is not yet mature, so it is expected that more casinos will open across the region.”
By 2014, Macao alone will generate $45 billion in gambling revenue, three times the size of Nevada.
That same year, Singapore’s revenues could hit $8 billion, up from zero before 2010.
Amazing, isn’t it?