Asian Casino Sector Shows Continued Strong Growth to Buck Regional Economic Trend, OnlineCasino.sg Report Concludes
An in-depth research report conducted by OnlineCasino.sg has concluded that Asia’s casino sector is continuing to perform strongly despite the slowdown in economic growth among some of the region’s leading economies.
Although counties like China and India have seen economic growth weaken somewhat in recent times, Asia’s two main gambling hubs, Macau and Singapore, have continued to perform strongly, with both casino revenue and visitor numbers for both countries continuing to be healthy.
The report also concludes that the market would be able to support new casino hubs in other areas of Asia.
Regional gambling hubs performing well
The report finds that despite economic growth in mainland China and India being lower than expected, the respective casino markets in Singapore remain buoyant. Although increases in visitor numbers in Macau – the vast majority of whom tend to come from the Chinese mainland, Hong Kong and Taiwan – have continued at more modest rates than before, casino revenue itself continues to grow at a healthy rate. And with casino operators such as Wynn Macau $4 billion in new casinos there, prospects for Macau remain strong.
Likewise, Singapore’s two mega-resort casinos have also done well since opening (the first in 2010, the second in 2011), with significant increases in GDP and tourist numbers being evident following each launch.
Future growth potential
The report also concludes that far from being an industry reaching its peak, Asia’s casino sector still has significant growth potential. Following close examination of tourist patterns for both Singapore and Macau, there remains several areas in Asia beyond the effective reach of these two gambling hubs.
Most notably, the report identifies areas proposed casino projects in Japan and the Russian port of Vladivostok as having considerable potential to become successful, major casino destinations.
Looking towards a bright future
OnlineCasino.sg’s in-depth reports dissects the Asian casino market using an array of economic indicators and other statistics, and concludes that although the region’s economic outlook as a whole has softened somewhat – which has had a limited knock-on effect for the regional casino industry – Asia’s casinos can look towards a bright future.
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