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Las Vegas loses out to Singapore

Singapore opened the doors of two large casino complexes in 2010, attracting billions of dollars and confirming the domination of Asia in an industry that is benefiting from the economic prosperity of the region.

Macao leading the casino industry

singapore skylineMacao has already overtaken Las Vegas and leads the world in terms of income, with a turnover in 2010 of US $ 23.5 billion from the gaming industry. This amount is four times higher than that of Las Vegas.

According to the Royal Bank of Scotland, cited by the press, the turnover of the Las Vegas casinos should be USD 6.2 billion this year which is less than that of the Singapore casinos. Singapore casinos recorded a turnover of US $ 5.1 billion in 2010 which is expected to reach $ 6.4 billion in 2011, said Frank Fahrenkopf, President of the American Association for the games.

"A little more than a year after their opening, the two casino complexes in Singapore have exceeded all expectations and made the city-state the 2nd Asian power in the casino industry," Mr. Fahrenkopf said.

Casino industry contributes to tourism

Resorts World Sentosa Casino the first casino in Singapore opened its doors in February 2010, followed two months later by the Las Vegas Sands, belonging to the Las Vegas Sands Group. Two casinos have largely contributed to attract tourism to Singapore with attendance in 2010 reaching 11.6 million visitors.