Casino Boom In Asia Propelled By Economic Escalation

It is not only the online gambling industry that is still booming, there is a rapid growth of the land casino industry too. This is possibly being seen more in Asia than anywhere else in the world currently, we only have to look at Macau to get a clear picture. Economic growth is rapid in this part of the world, and while there are many benefits believed to be attributed to the gambling industry, there is obviously also the question of debate over the social ills of this entertainment industry.

According to the Associated Press – a $4 billion casino will soon be rising like a Phoenix from reclaimed land on Manila Bay, Macau. Foreign investors are also breaking ground in South Korea, where a clutch of casino-type resorts are planned offshore. Even the Eastern edge of Russia is planning a casino resort area to attract Chinese high-rollers.

These are just a few examples of planned casino developments to cater for Asian tourist who have a penchant for playing gambling games. Asian gaming tourists are becoming increasingly more affluent, so, glitzy, upscale Las Vegas-style resorts are the order of the day. Most are designed in an attempt to emulate Macau which is currently the largest casino marketplace in the world. Even in Singapore – the city-state’s first casinos have raked in a ballpark figure of $6 billion a year after opening in 2010.

There are immense fortunes to be made, but not necessarily for the gambler. However, an emerging middle class now has the money to spend on leisure and entertainment activities, and gambling appears to be on the top of their bucket lists. Supercharged growth in Macau and the end to a four-decade monopoly, also sees foreign operators such as MGM, Las Vegas Sands and Wynn flocking to the former Portuguese colony.