Macau Leads the Asian Gambling Industry
Macau leads the booming casino industry in Asia according to the Asian Casinos Executive Summit recently held in Singapore.
The former Portuguesse colony has opened its door to the gaming sector four years ago and has an attractive location beside China that has a population of more than one billion people.
The June ratings as reported by Standard and Poor's, Macau could surpass the Las Vegas Strip as the largest gambling market in the world in terms of revenue with an expected rise of ten billion dollars in the next few years.
Figures show that Macau gaming houses have collected more than two billion US dollars in the first quarter last year.
Chairman Lui Che-Woo, Galaxy Entertainment Group that operates casino in Macau predicts that more than twenty billion dollar investments will pour in Macau gambling market.
Las Vegas Sands, the biggest gaming operator also had announced that their company will double the investment to Macau, amounting to 8 billion dollars within the next six years.
Speakers in the Asian Casinos Executive Summit, all agreed that Asia is the forerunner in Gambling industry as the gambling market in Asia is no longer considered as a haven of illegal activity.
Aside from Macau, another Asian country, Singapore had also opened the bid for casino licenses in Sentosa.