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Asia to Become World's Gaming Hub, Japan to Allow Casinos?December 14, 2011 By: Meagan Drillinger
In terms of gambling giants, Asia seems to be holding all the cards. PricewaterhouseCoopers is reporting that Asia is expected to overtake the United States as the world's largest gaming market by 2013.
Macau, the Vegas of the East, is expected to grow its gaming revenue at an annual rate of 21.5 percent between 2011 and 2015.
According to the Las Vegas Review-Journal, Japan, which is still looking to drive arrivals numbers following the devastation of the March tsunami, may be considering lifting its current casino ban.
"[Sheldon] Adelson, chief executive officer of Las Vegas Sands Corp., has for at least half a dcade sought to reverse a ban on the gambling houses in the world's third-biggest economy, only to be blocked by Japanese legislators arguing casinos would fuel organized crime and provide little benefit," the article writes. "Now, a group of 150 lawmakers is backing a plan to allow resorts that combine slot machines and gambling tables with hotels, shopping and restaurants."
It is expected that Japanese casinos could prove to be a $44 billion industry.
Read the full story here.