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Singapore may beat Las Vegas as gaming destination

Singapore,Business/Economy,Lifestyle/Fashion, Thu, 03 May 2012 IANS

Singapore, May 3 (IANS) Singapore's gaming industry may overtake Las Vegas by the end of this year as the biggest gaming destination in the world, a media report said.


Last year, analysts had made the same prediction but the outcome from two integrated resorts in Singapore fell short of this expectation, Xinhua reported citing local broadcaster Channel NewsAsia.


The Marina Bay Sands raked in gross gaming revenue of over $2 billion last year, and its rival Resorts World Sentosa recorded net gaming revenue of close to $2.6 billion.


Analysts said the combined gross gaming revenue of Singapore's two casinos is about $5.7 billion. This is just a shy away from the total gaming revenue of $6.1 billion collected from more than 20 casinos in Las Vegas.


The Marina Bay Sands posted a revenue of over $848 million in the first quarter this year. Its casino earnings rose 51 percent to $701 million.


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