07 Jun '11, 10am

Singapore to overtake Vegas this year: US gaming head

Singapore is set to overtake Las Vegas as the world's second-largest gambling hub this year, a US gaming industry head said on Tuesday. -- PHOTO: MARINA BAY SANDS MACAU - SINGAPORE is set to overtake Las Vegas as the world's second-largest gambling hub this year, a US gaming industry head said on Tuesday, as Asia cements its place as a major betting market. Singapore has emerged as Asia's hottest new gambling destination with a revamped cityscape and billions of dollars pouring into the economy, after the opening of two resort casinos in 2010. The strong growth came after Macau - the world's biggest gaming hub - leapfrogged Las Vegas in gaming revenue and continues to post record-breaking growth, thanks to burgeoning numbers of wealthy Asians. The two resort casinos in Singapore posted US$5.1 billion (S$6.3 billion) in gaming revenues in 2010, a figure forecast to rise to ...

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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