Breitbart | Singapore is set to overtake Las Vegas as the world's second-largest gambling hub this year, a US gaming industry head said Tuesday, as Asia cements its place as a major betting market.
Singapore has emerged as Asia's hottest new gambling destination with a revamped cityscape and billions of dollars pouring into the economy, after the opening of two resort casinos in 2010.
The strong growth came after Macau—the world's biggest gaming hub—leapfrogged Las Vegas in gaming revenue and continues to post record-breaking growth, thanks to burgeoning numbers of wealthy Asians.
Breibart | American casino mogul Steve Wynn said Tuesday that his US-based gaming firm has become a "Chinese company" as it held its first annual meeting in Macau, now the world's biggest gaming hub.Photo Courtesy of Wynn Las Vegas
Wynn Resorts Ltd. was splitting its headquarters between Las Vegas and Macau, the billionaire executive said, with the company's revenue increasingly tied to soaring growth in the former Portuguese colony.
Macau posted $23.5 billion in gaming revenues last year, outpacing the Las Vegas strip by at least four-fold. Much of the eye-popping figure is tied to high-roller gamblers from mainland China flooding into the southern territory—the only place in China that allows casino gambling.