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The Booming Asian Gambling Industry

The latest boom in the gambling industry has resulted in the manifestation of high rise Casinos popping across Southeast Asian regions that are funded by the respective governments in order to develop its tourism industry. By facilitating and developing world class dazzling Casino facilities, the government is anticipating that the taxes and revenues generated by the casinos will boost their local economy and will provide employment opportunities to many people.

The Philippines are gearing up to build a $ 4 billion dollar upscale casino from a reclaimed land on Manila Bay. The small territory of Macau with its population of only 600,000 inhabitants is an amazing example of ways to turn a rather low key destination two decades ago into one of the hottest in Asia today. In South Korea foreign investors are expected to pour their money because the gambling ban is no longer applicable. Many other Asian countries wants to copy the rapid economic development in macaw, which recently surpassed as the world’s biggest casino market after ending a monopoly that was undisputed by Las Vegas. Last year, macaw raked in $33.5 billion in gambling revenue alone. Even Singapore generated 6 billion dollars as revenue from gambling.

Vietnam will get its first casino-resort next year. Canadian company Asian Coast Development is set to open a five-star MGM-branded beachfront complex in the southeast. It is part of a $4.2 billion tourist development aimed at drawing foreign visitors.

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