Casino Popularity Could Surge in Asia

Singapore's plans to build casino resorts could set the stage for other Asian countries to build similar entertainment complexes in the years ahead, the top executive of Las Vegas Sands Corp said yesterday.

'There could be as many as 10 'Las Vegases' in Asia,' said Sheldon Adelson, chief executive officer of the US-based luxury casino operator. 'Other countries will say: 'If it's good enough for wholesome Singapore, it's good enough for us.''

Las Vegas Sands will build one of two casino resorts in Singapore, a US$3.6 billion project that is set to open in 2009 as part of the city-state's campaign to boost tourism revenue and boost its staid image. The company is also building its second casino resort in Macau that is expected to open in 2008.

'Japan will be the next place' to pursue casino development, Adelson said in a meeting with reporters. He noted Japan's parliament had formed a panel to study the issue amid suggestions that the southern island of Okinawa would be a good location for a gambling resort.

Thailand is another prime candidate for casino construction, and India might follow suit in five or 10 years, Adelson said. Macau rivals Las Vegas as the world's largest gambling market, and some Asian nations, including Malaysia and South Korea, already operate casinos.

Globalysis Ltd, a Las Vegas-based consulting firm, said this month that Macau's expected gross gaming revenue in 2007 would rise an estimated 18 percent to US$8 billion. It did not issue a forecast for gaming revenue on the Las Vegas Strip, though revenue there was US$6 billion in 2005. Gaming revenue throughout Las Vegas was about US$9 billion last year.

Like Macau, Singapore's decision to build casinos as part of complexes that offer shows, shopping, conference halls and other activities and entertainment represents an evolution of the business, said Las Vegas Sands executives.

Singapore has chosen to 'leapfrog' the idea of the traditional casino because places where people gamble are no longer seen as 'boxes with tables and slot machines,' said William Weidner, the company's president and chief operating officer. 'I think it's been redefined and I don't think it's ever going to change,' he said.

Singaporeans engaged in an unusual public debate about whether to build casinos. Government leaders and the local media refer to the projects as 'integrated resorts,' a label that downplays the prominence of the casinos.