Singapore’s casinos on a roll
Singapore’ casino resorts continue to draw visitors into the city state and drive profits that are predicted to outperform those banked in Las Vegas.
The two resort casinos in Singapore posted $US5.1 billion in gaming revenues in 2010, a figure forecast to rise to $US6.4 billion this year, according to Frank Fahrenkopf, president of the American Gaming Association, quoted by AFP.
The strong growth in Singapore since the integrated resorts opened in 2010 came after Macau – the world’s biggest gaming hub – leapfrogged Las Vegas in gaming revenue.
A report citing research by the Royal Bank of Scotland has suggested Las Vegas will take $US6.2 billion this year.
“Now more than a year old, the two integrated resorts in Singapore have exceeded all expectations and turned the nation into Asia’s second global gaming superpower,” said Fahrenkopf.
“The country’s gaming market will likely overtake Las Vegas as the world’s second-largest gaming centre as early as this year,” he told a news conference at the sidelines of the Global Gaming Expo Asia which opened in Macau.
The first Singapore casino opened in Malaysian-controlled Resorts World Sentosa in February, 2010, with US-based Las Vegas Sands following two months later.
The two casinos have largely been credited with turning around Singapore’s tourism, helping the country welcome a record 11.6 million visitors last year.
Ian Jarrett
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