Asian Casinos Predicted to Soon Surpass U.S. Casino Revenue
Macau has already passed the Las Vegas Strip as the highest-grossing center of gambling revenue; now it looks likely that Asia will soon surpass the United States as the largest regional casino gambling zone.
American casinos nationwide had income of $34.1 billion last year. Asian casinos had an estimated income of between $15 billion and $20 billion.
Industry experts say that, with the continued growth of Macau, new casinos under construction in Singapore, and casinos planned for other spots, Asia will probably catch and then pass the U.S. market by 2012.
Macau took in over 410 billion last year. The gambling hotbed has grown at a rate of 41% over the last two years, while Vegas has been stagnant, even shrinking some months.
Frank Fahrenkopf, president and CEO of the American Gaming Association, said, "There is no doubt this is an exciting time in Asia for the gaming industry."
While Las Vegas can explain falling behind Macau as a result of the myriad of gambling opportunities that have opened across the U.S., the U.S. as a whole falling behind Asia can only indicate the much stronger demand in Asia. It seems unlikely the United States will ever dominate the casino industry again at the level it has enjoyed for so long.
