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Speakers at the recent Global Gaming Expo in Macau were agreed that the Internet casino industry is experiencing the start of a very rosy period in the Asian market. Japan was cited as on its way to becoming the second-largest gaming market, and possibly the largest in online gambling, in Asia.
Well i guess little by little online gambling will be now consider as the savior for the recession. What do you think guys?
Yes, economics trumps morale issues, any day of the week. Agreed.
According to the Business World news:
While Macau has already leapfrogged Las Vegas in gaming revenue and posts record-breaking growth, Singapore and other Southeast Asian nations are now building up their gambling sectors to cash in on its exploding popularity.
Outside Macau and Singapore, casinos are authorized in Australia, Cambodia, Japan, Malaysia and the Philippines, among others, while more are under way.
The survey of industry experts was released in Macau, where thousands of delegates are attending the three-day Global Gaming Expo Asia which started Tuesday in the former Portuguese colony.
It concluded that US casino revenue — including the gambling paradise of Las Vegas as well as Atlantic City and Reno — would be eclipsed by Asia in three to five years.
Well its a big help in a little city that seeks better economy and better revenues. Both government and people can benefit for it.
@frank rede 220126 wrote:
According to the Business World news:
Well its a big help in a little city that seeks better economy and better revenues. Both government and people can benefit for it.
No doubt, Frank.
Thanks Poker Dude, if in some countries that are in recession, does this mean that US doesn’t need tax revenue from online gambling because US has a strong economy?
Well, political “morality” crusading is for the moment trumping economics in North Carolina …
In Asia, things are even crazier than the U.S., I think. Macau is being described as the world’s hottest casino market — outperforming even Las Vegas — but the irony is that Macau is technically a part of China, which is the strictest major nation in terms of cracking down on Internet gambling. I wrote an article about this today and wrote about Macau’s gambling economy a few months ago, too.
I’ve been in Southeast Asia recently and it’s a mish-mash — some countries openly allow online gambling (like Thailand) but many others like Myanmar and Vietnam absolutely don’t. Vietnam doesn’t even allow Facebook. And even Thailand has been cracking down on online betting during the World Cup, although that’s kind of a different story.
True, but US has i guess more controversial for legalizing online gambling since there are so many pending reviews in the US and still debating it.
In Online gaming market Asia and the Middle East accounts for nearly ~% of the market, with that region’s share broadly unchanged in recent years. Macao is the leading gambling jurisdiction in Asia, representing more than ~% of this regional market.
- Singapore is a developed market for gambling in Asia and now Japan is also mulling steps similar to Singapore. Singapore, counts among the highest gross gaming revenue/GDP with market of worth US$~ billion. According to a study, Singapore generates the worlds highest spend per capital on lottery sales.
- The annual lottery revenue in China expanded from US$~ million in 1987 to US$~ billion in 2009, representing a CAGR of ~%. Worldwide, the size of ChinaÂfs lottery market grew from No. — in 2007 to No. — in 2008.
- By end-2012, VLT sales to reach US$~ billion, implying a CAGR of 25% during 2007-2012. In welfare lottery, computer ticket games account for ~% of total welfare lottery sales; instant scratch cards take about ~%; and high-frequency games (VLT/Keno) take the remaining 21%. China handset game industry is entering an accelerated growth phase. The overall market grew 39% YoY to US$ bn in 2009 and the sector is poised to post a ~% revenue CAGR during 2009]12.
