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Singapore to overtake Las Vegas as gambling hub

8 JUNE: Singapore is set to overtake Las Vegas this year as the world’s second-largest gambling hub, the Straits Times newspaper reports today, quoting a US gaming industry boss.

Singapore has emerged as Asia’s hottest new gambling destination with a revamped cityscape and billions of dollars pouring into the economy, after the opening of two resort casinos in 2010.

Macau is now the world’s biggest gaming hub, thanks to the growing numbers of wealthy Asians.

The two resort casinos in Singapore posted US$5.1 billion in gaming revenues in 2010, a figure forecast to rise to $US6.4 billion this year, according to Frank Fahrenkopf, president of the American Gaming Association.

Royal Bank of Scotland research puts the Las Vegas this year at $US6.2 billion.

"Now more than a year old, the two integrated resorts in Singapore have exceeded all expectations and turned the nation into Asia’s second global gaming superpower," said Mr Fahrenkopf.

"The country’s gaming market will likely overtake Las Vegas as the world’s second-largest gaming centre as early as this year," he told a news conference during the Global Gaming Expo Asia event which opened yesterday in Macau.



 
Seven Oceans Cruising

CRUISE TOUR TO LONDON AND THE NORTHERN LIGHTS

DEPARTS: 10 FEBRUARY 2013

18 DAY CRUISE TOUR FROM $4899

Fly with Emirates to London – Experience London, Bath Stonehenge and Salisbury.

Cruise on Marco Polo to Amsterdam and the Norwegian Fjords, cross the Arctic Circle and with natures cooperation view the Northern Lights.

Ports include Tromso, Bergen Svartisen Glacier and much more during the spectacular winter season.

News in Brief for 22 May

GREEK CANCELLATIONS Europe low-fare carrier Ryanair has reportedly confirmed that it will cut 82 flights a week to the Greek holiday islands of Rhodes and Kos after local authorities allegedly failed to honour a joint summer marketing campaign with the airline.

STANSTED STRIKE Baggage handlers at London’s Stansted airport plan a series of strikes from this weekend after negotiations on shift changes broke down. The 150 workers are employed by Swissport, which handles baggage for Ryanair and a number of UK holiday airlines.

AIRLINE DENIES CUTS Air France-KLM denied plans to cut 5,000 jobs by 2015 through a voluntary redundancy plan, as reported by French daily Le Figaro. "For the moment there are absolutely no negotiations about possible job cuts, these are just rumours," a spokeswoman told reporters.

MEXICAN REVIVAL? Mexicana Airlines, which suspended flights for financial reasons in August 2010, may re-launch operations next month after Spanish hotel and air transport group Med Atlantica acquired 95% of the bankrupt carrier’s shares.

THAI SACKING The board of Thai Airways is reported to have sacked the airline’s chairman, with a spokesman saying he was "unable to work in unity with the strategy committee".