Singapore Gambling Poised to Overtake Las Vegas

Posted June 7th, 2011 at 10:20 am (UTC-5)
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U.S. gaming experts say Singapore is set to overtake Las Vegas as the world's second largest gambling hub.

The head of the American gaming Association, Frank Fahrenkopf, says the Asian city-state is on course to rake in $6.4 billion in gaming revenue, after opening its first two casinos last year.

Fahrenkopf spoke Tuesday at a gambling industry conference in the Chinese territory of Macau — the world's most lucrative gambling market with a $23.5 billion take last year. Las Vegas took in $5.8 billion in 2010, and some analysts estimate its net could rise to $6.2 billion this year.

The two Singapore casinos have been credited with boosting Singapore's tourism sector to a record 11.6 million visitors last year.