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Asia to overtake US as world's top casino market by 2013: PwC
Asia will surpass the United States as the world's largest casino gaming market in 2013 on account of the region's robust economic growth and growing people interest for gambling, says a report by PwC last week.
The global gaming outlook report said Asia is expected to generate revenue of USD 79.3 billion in 2015, up from USD 34.3 billion in 2010 with a compound annual growth rate of 18.3 percent.
"This growth will see Asia Pacific overtake the US in 2013 as the world's largest regional casino gaming market," the PwC report noted.
The growth in Asia Pacific would mainly be driven by the continuing economic growth in the region and the subsequent rise in disposable income and the emergence of a prosperous middle-class.
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Asia to overtake US as world's top casino market by 2013: PwC
In addition, people's deep attachment to casino gaming and other forms of gambling and the growing opportunities for consumers to take part in casino gaming as new centres are established and new facilities open up in existing markets would also trigger the growth.
Casino gaming revenues in Asia Pacific surged by a remarkable 49.7 percent in 2010, boosted mainly by the growth in Macau market and the rapid emergence of casino gaming in Singapore.
"Going forward, Macau and Singapore will continue to fuel growth in Asia Pacific during the next few years, while other countries in the region may look to encourage growth in casino gaming to gain tourism and tax dollars," the report said.
The report further said that emergence of major resort casinos in Macau -- operated by US-based companies -- will divert some of the US's overseas-derived business to that region. As a result, Nevada, the major international casino gaming centre of the US, could be disproportionately affected.
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Asia to overtake US as world's top casino market by 2013: PwC
Globally, casino gaming revenue will grow at 9.2 per cent compound annual rate during the next five years, rising from USD 117.6 billion in 2010 to USD 182.8 billion in 2015.
Revenues in Europe, the Mid-East and Africa will climbs to USD 18.3 billion in 2015 up from USD 16.3 billion in 2010, an average growth rate of 2.4 per cent annually. The weak economic conditions and the impact of adverse regulatory developments in some countries will curtail growth.
"The turbulent global financial markets have curtailed consumer spending in some of the major markets for casino gaming.
"But we've seen huge growth in Asia as the affluent middle classes seek new forms of entertainment, and gaming's intense balance of risk and reward has a special appeal for many people," PwC Global Entertainment and Media Leader Marcel Fenez said.
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Asia to overtake US as world's top casino market by 2013: PwC
Here is a list of Asia's leading casinos:
The Venetian Macao:
This Asian casino is located in Macao, the former Portuguese colony, which is now a part of China and well known for its many casinos.
Opened in 2007, The Venetian Macao is a hotel as well as a casino, with over 3000 rooms and 40 floors. It's located on the Cotai Strip and is a sister hotel of The Venetian in Las Vegas, which is why it is also modelled after it.
The hotel itself is 980,000 m2 large, and the casino has a total gaming space of 51,000 m2, making it the largest casino in the entire world!
The casino is actually so large, that is divided into 4 different gaming areas. The casino has over 3,400 slot machines, 800 different tables for table games. And, if want to take break from all the gambling, watch Cirque du Soleil performing their popular show Zaia.
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Asia to overtake US as world's top casino market by 2013: PwC
The Marina Bay Sands Casino in Singapore
This casino has been rated as of one of the best casions in Asia unanimously by world media. This resort and casino was opened only in 2010, but it has already become quite popular.
The resort has a total of 2561 rooms, It also houses some of the top selling luxury brand stories like Miu Miu, Yves Saint Laurent, Gucci, Armani, Chanel and Prada. Not just that. It home to the world's largest Louis Vuitton store.
In addition to this, it has an ice skating rink, restaurants (with celebrity chefs), night clubs, show rooms and so on, and the casino itself is the world's most expensive standalone casino at the moment.
It has more than 500 gaming tables and 1 600 different slot machines, and attracts an incredible amount of visitors every day -- around 25,000 visitors daily!
The entry fee for the casino is $100 for a day, but if you think you will be visiting the casino a lot, you can also get a yearly pass for $2,000.
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Asia to overtake US as world's top casino market by 2013: PwC
Wynn Macau
The Wynn Macau looks just like its brother over in Las Vegas, with the same red and beige colour scheme inside and out. Table games include traditional and contemporary games like Blackjack, Caribbean Stud, Roulette and Sic Bo, all types of Baccarat, as well as a sweet poker room with attractive female dealers.
What sets it apart from other casinos is that Wynn features two signature shows. The The Wynn tends to attract a high-roller crowd due to the high-stakes games.
When it comes to shopping, it also has all the big names -- Gucci, Versace, Prada, Louis Vutton.
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Asia to overtake US as world's top casino market by 2013: PwC
Grand Lisboa
This casino may lack the class of Venetian or Wynn, but it is most popular for poker. In fact, it has the best and biggest poker room in Asia.
This is an absolutely no-frills gambling ground, where the biggest poker tournaments in all of Asia are held. Expect the highest levels of players in the region here on a nightly basis.
The Grand Lisboa is the first to bring in western games such as Texas Hold'em and craps. The casino also has one of the best reward programmes for their members.
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Asia to overtake US as world's top casino market by 2013: PwC
Genting Malaysia Berhad
It was voted as the world's leading casino resort and Asia's third best casino resort. from 2005 to 2009 by World Travel Awards.
It is now expanding its operations, in Singapore, Macau, Malaysia, US, Europe and the UK. This company has access to massive cash reserves and since October 2010.
The aim of the game is to boost the earning potential of the Genting gambling giant over the long term.
At this point in time, growth in Asia is also still exciting and offers some enticing long-term prospects for the company, but moving into the international market does present better long-term prospects as a whole.