New Survey Says Asia will Surpass US
By: admin, Thursday May 22nd 2008
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From the Hong Kong news comes news of a new survey recently released to the public. According to the survey there is thought that the Asian market for casino revenue is likely to take over in the highest casino revenue ever by 2012. Even the Australian market is seeing a significant increase in their casino revenue which is causing a lot of concern about inflation.
The American Gaming Association completed the survey that is showing the Asian casinos are likely to be making more than the US in the next four years. The city of Macau is already larger in size and revenue than Las Vegas. It seems that Macau will continue to be the market leader for Asia in the months to come.
There are several new casinos to be opened in Asia such as Singapore and Japan that is to catapult the industry even further. At the moment Asian casinos are seeing an annual revenue of 20 billion USD. The US is holding steady at $34 billion.
In Australia the economy because of the casino industry has seen an annual rate of 3.6 percent increase. These expansions in the casino area may affect the economy. China is placing demands on Australia that have also created growth increases and rising prices. The central bank as a result is seeing interest rates at 7.25 percent which is the highest it has been for ten years.
Australia is certainly happy with the growth, but it could turn into a huge problem for them as other industries are also seeing these increases in demands. So it is going to be interesting to see what will happen with the casino market in Asia and the resulting increase in Australia for the next four years.
Asia has not only expanded in China, Japan, and some of the smaller countries, they are also building new casinos in India as well as online casinos. These increases in revenue are offering more jobs for the countries and helping to establish a strong economy.
The casinos are reputed to be even better than those in Las Vegas with the expansive buildings, sophisticated interior, and hundreds of games being offered. Pretty soon those in Europe and the rest of the world are going to want to see for themselves how great the casinos are, just to see if they are better than Monte Carlo and Vegas.
Furthermore it will be interesting to see just how far the Asian industry can surpass the US. If they are already at $20 billion, the chance of doubling that amount in four years or even tripling it is not out of the realm of possibilities. The US has been in business so long and with the current economy and gas prices the revenue in casinos may fall, helping the Asian companies to surpass them. As players wait to see what happens, the Council will continue to put out yearly surveys to track the progress of Asia against the US.
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