Experts Say Macau’s Success Spurring Asia’s Gaming Industry
September 9th, 2008 by admin | Comments Off | Filed in CasinosSINGAPORE - Macau’s success as a gaming haven is spurring the industry in Asia, with some countries already building massive casinos and others moving to legalise them, experts said Tuesday.
The provision of wholesome entertainment, retail shopping, and hotel and convention facilities as part of the gaming experience is helping to shed the usual image of casinos as linked to gambling, crime and sleaze, they said.
“The major thing that has… revolutionised the gaming industry in this part of the world of course is Macau,” said Andy Nazarechuk, the dean of the Singaporean campus of the University of Nevada, Las Vegas.
“Macau is the star in the Asian world when it comes to the gaming industry,” he told delegates at a conference in Singapore that brought together gaming executives.
Macau’s casinos reported revenues of US$9.7 billion in the first seven months of this year, up 44 per cent from the year before, he said.
The southern Chinese territory’s gaming revenues in 2007 topped US$10 billion for the first time, well ahead of the Las Vegas Strip, other figures have shown.
Singapore is constructing two integrated casino resorts, one of them set to open in late 2009, after the government lifted a long-standing ban on casino gambling.
Canada-based Asian Coast Development Ltd. (ACDL) is constructing a US$4.2 billion beachfront project in Vietnam’s Ba Ria-Vung Tau province, which will include the communist nation’s first Las Vegas-style casino.
ACDL chief executive David Subotic told delegates the 169-hectare (417-acre) development, called the “Ho Tram Strip,” will feature five-star hotels, luxury resorts, a conference centre and a golf course designed by Greg Norman.
The first casino is slated to open in late 2010.
Another luxury resort with 1,200 hotel rooms, a casino, restaurants and nightclubs will be operational by 2011.
Japan hopes to open its first casino either by 2012 or 2013 after legislation is put in place, said Toru Mihara, a casino advisor to Japan’s ruling Liberal Democratic Party.
Mihara said Japan is closely studying the Singaporean model for casino resorts offering family entertainment, convention facilities, luxury shopping and restaurants, apart from gambling.
Taiwan is aiming to pass legislation by the end of this year to allow casinos to operate, said Day Yang Liu, director of the National Taiwan University of Science and Technology.
Taiwan is aiming for two to three integrated casino resorts, initially on Penghu island, about 40 minutes by plane from Taipei, he told the conference.
Chea Peng Chheang, secretary of state at Cambodia’s ministry of economy and finance, said his country’s focus will be to further develop casinos located along its land borders. -CNA/vm
Channel News Asia