Written by The Edge
Wednesday, 18 August 2010 16:24
Singapore’s very young gaming sector revenues could rival those from Las Vegas strip in next two years, according to some estimates, according to Dow Jones.
CLSA expects sector to generate US$5.1 billion ($19 billion) in 2011, which compares with Galaviz & Co.’s 2011 estimate of US$5.8 billion for Las Vegas strip for 2011.
Reflects weakness in gaming revenues in traditional US gambling Mecca of Las Vegas, especially as Asian players look closer to home at venues in Macau and now increasingly Singapore following opening of Las Vegas Sands’ (LVS) Marina Bay Sands and Genting Singapore’s (G13.SG) Resorts World Sentosa earlier this year.
“The appetite for gambling in Asia is significantly higher than it is outside of Asia,” CLSA analyst Aaron Fischer says.
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