Inside Asian Gaming

INSIDE ASIAN GAMING | September 2008 24 of what is happening in Asia’s gaming industry. In 2006, the tiny enclave of Macau overtook the Las Vegas Strip with revenues in excess of US$7bn. In the first six months of 2008, Macau reported casino revenues of over US$7.4 billion, outstripping not just the Vegas Strip, but all of Nevada, which reported revenues of just over US$6 billion in the same period. Whilst most of Macau’s revenue is generated by baccarat, which is by far the city’s most popular game, new games have been rapidly growing in popularity. In 2003, for example, there were only 800 slot machines in Macau. By 2008, there were 13,000 slot machines, which are on track to deliver revenues of US$700m this year. In 2007 there was no Texas Hold ‘em in Macau,or indeed anywhere in China.Macau’s first poker tables opened only this year, and in the first quarter, revenues amounted to US$500,000.By the second quarter,revenues had shot up to US$1.4 million. Third quarter revenue figures are not yet in, but are bound to have shown continued growth with the launch, in the third quarter, of Macau’s third poker room, which is run by the Asian Poker Tour at the StarWorld Hotel and Casino. The city also hosted two major poker tournaments in the third quarter, both with prize pools of US$1.5m or more. As well as the explosive growth in the availability, awareness and adoption of Poker, Mr Briggs feels that the APT is likely to reach the US$62 million total prize pool seen at the 2008 World Series of Poker run by Harrah’s Entertainments,with Asian poker David Saab, winner of the recent Manila event of the 2008 Asian Poker Tour Poker players apparently attracted by higher buy- ins.“Asian players like to play in big games— the higher the stakes the better. During the August APT event at the StarWorld, one of the side games organized by the APT saw players winning and losing pots of over US$500,000. Judging by the recent successes of some of the Asian players on the poker circuit, a new generation looks set to represent the game to a new audience. Asian Americans J.C. Tran, Quinn Do and Nam Le have all just inked contracts as APT Ambassadors to the world poker circuit. The deal couldn’t have got off to a better start,with Nam Le winning this month’s PokerStars APPT Macau High Rollers event for US$474,358. If that wasn’t enough,his fellow newly signed ambassador Quinn Do finished third for US$153,846 as the APT ambassadors dominated the US$19,250 buy-in tournament. J.C. Tran is currently the top-ranked player in the world on the Bluff Magazine/ESPN power rankings. After starting out by playing in local card rooms, he has won and cashed in big money tournaments and has total winnings of US$6.7 million to date. His most recent victory was at Event #49 of the 39th World Series of Poker 2008, where he won a bracelet and US$631,170. What do the old guard think of this? Attending the August APT event in Macau were Poker legends Jack Binion and Doyle Brunson. Jack Binion, who presided over the first ever WSOP event in 1970, opened proceedings at the Macau StarWorld with the call to “Shuffle-up and Deal.” A symbolic passing of the torch from Poker’s American roots to potentially its new Asian home. As Brunson later said of the event: “I have been to so many tournaments and so many places in the world, but I have to say I am so impressed with The Asian Poker Tour and Macau. This is the first time I have been here. I thought Las Vegas was the gambling capital of the world, but I was wrong. It feels like coming home.” To build on these beginnings to overtake the WSOP within 3 years will be a truly breath-taking achievement. However, having just witnessed China’s achievements at the Beijing Olympics, would you bet against it?