Inside Asian Gaming

INSIDE ASIAN GAMING | October 2012 34 Market Outlook over the border and all the way to Genting’s Casino de Genting in the mountains north of Kuala Lumpur, VIP players could find it easier to shift back to what was an old stomping ground for many of them prior to the opening of Marina Bay Sands and Resorts World Sentosa. And the gaming landscape in Asia is changing quickly with greater competition on the horizon. A major resort casino opens in southern Vietnam next year. A US$4 billion casino and resort complex is under construction inManila, anewforeigners-only casino is expected to break ground in South Korea next year, a new casino is planned for Cambodia’s border with Thailand, and Russian officials are touting a proposed resort complex in the country’s Pacific Far East near Vladivostok. All of these are aiming to capture more of the lucrative Chinese market. And the current world leader in gaming revenue, Macau, shows no signs of slowing down its pace of large-scale resort development. Singapore is committed to not licensing any new casinos until 2017. In a market that already seems mature, it is difficult to see where the growth will come from— especially given the increasing regional competition. And with observers wondering gambling is not a credible threat, and the market’s stunning growth has turned heads from Tokyo to Wall Street—but it’s only getting more difficult. Now that the gaming tiger is out of its cage, Singapore’s lawmakers have some difficult choices to make. about the impact of slowing economic growth in China, it is clear the city-state cannot necessarily rely on the pie expanding enough to grow everyone’s slice. The city-state has made tightrope- walking seem easy so far—problem Old VIP stomping ground—Casino de Genting in Malaysia Log onto www.asgam.com for the latest industry intelligence and a subscription to our digital edition—all absolutely free A Sure Bet