Nearly one year after opening its casinos, observers said Singapore looked set to overtake South Korea and Australia this year, to become the second-largest Asia-Pacific casino market behind traditional leader Macau.
“Singapore has made a dramatic entry to the casino gaming market,” financial consultancy PricewaterhouseCoopers said in a report estimating Singapore’s casino gaming market at $2.8 billion in 2010. It predicted that Singapore would overtake South Korea and Australia this year to become the second-largest Asia-Pacific casino market behind traditional leader Macau.
“In 2011, with a full-year’s operation for both resorts, we expect revenues to reach $5.5 billion, growing to $8.3 billion by 2014,” it said. The first casino opened in Malaysian-controlled Resorts World Sentosa on February 14, 2010, with US-based Las Vegas Sands following two months later as the world economy was still clawing itself out of recession.