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NEWS UPDATES Asean Affairs   7  December 2010

Singapore's casino industry gains

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By 2011, Singapore's share of the casino gaming market is expected to leapfrog Australia and South Korea to be the second largest in the Asia Pacific behind Macau.

This prediction was made in a new report from PricewaterhouseCoopers International (PwC), Playing to Win, which looks at the trends in both the casino and online gaming industries. PwC is projecting Singapore casino revenues to hit US$2.8 billion (S$3.7 billion) in 2010 and with a full year's operation for both integrated resorts in 2011, revenues are expected to reach US$5.5 billion, growing to US$8.3 billion by 2014.

PwC Singapore's Technology, Infocomm, Entertainment & Media Industry Leader - Greg Unsworth - said: "Singapore has made a dramatic entry to the casino gaming market with the two integrated resorts."

Overall, the Asia Pacific casino gaming market has stormed ahead of the rest of the world after the recent recession, growing by nearly 50 percent from 2009 to 2010.

PwC's analysis on the industry is supported by forecasts for global spending through to 2014 (meaning gross gaming revenue, which is the amount wagered minus the amount returned as winnings). The global gaming industry is predicted to be similar to the current industry today.

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