The Residential Real Estate Post-Crash Index-Moderated Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Residential Real Estate Post-Crash Index-Moderated

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

From: bentway	6/7/2011 12:34:23 PM
	1 Recommendation of 119361

Las Vegas to Lose No. 2 Gambling Spot to... ...SINGAPORE By the Associated Press newser.com Posted Jun 7, 2011 9:05 AM CDT (AP) – Asia will be home to the world's two biggest casino markets as early as this year, with Singapore set to take the No. 2 spot from Las Vegas, a US gambling industry group said today. Singapore raked in $5.1 billion in gaming revenue last year and could bring in up to $6.4 billion this year. The city-state opened its first two casinos last year. Las Vegas, which lost its No. 1 spot to Macau in 2006, earned $5.8 billion in casino revenue last year, but is a mature market with little potential for big growth, says the American Gaming Association president. Gambling revenue in Macau, by far the world's most lucrative gambling market, hit $23.5 billion last year, and monthly revenue has grown by at least 42% from February to May. High-rollers from mainland China coming to Macau are a big source of cash for casinos, accounting in some cases for up to 70% of revenues. Gambling in big amounts is easy for high-spending mainland Chinese—so-called junket operators lend them money for their gambling, and debts aren't collected until the gamblers return to China. But a possible crackdown on these operators could also limit expansion in the booming Asian industry.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next