The New Asian Las Vegas
It’s important to keep an eye on trends occurring at home here in the States and around the world. Staying global is the best way to be poised for wealth. Now that Asia is the hotbed for growth, it’s understandable that industries are looking to come in and thrive in the booming economies. You’d better believe the casino industry is looking to get a piece of it.
The casino circuit is growing rapidly in Asia. Michael Levin, COO of Las Vegas Sands, discusses his company’s ambitious plans in the Forbes video to increase their market share in Singapore and Macau, the Las Vegas of China. He believes in its potential to outpace Las Vegas. There’s been some growth in 2009 but Forbes notes that more development is slated to occur in 2010 and 2011.
If the growth anticipated does reach Macau and Singapore, tourism will stand to increase. Like Las Vegas, markets will have to grow cater to the impending tourism. However, Dubai has shown us that the market will need to grow with substance in respect to the consumer. If casinos do indeed grow increasingly, shows, hotels, restaurants, clubs, and travel packages will accentuate this business model quite nicely. Think about all the creative ways that you could contribute or capitalize off of the trend. It’s just another possibility to think about as you navigate your wealth journey.
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Seems like there’s oversupply in Macau, and I wonder Singapore will be able to compete for dollars in the region. Perhaps!
Macau has been the Las Vegas of China for some time now. The rapid casino growth may indicate a bubble as investors are rushing to invest in China as a whole. However, money is pouring in for now. It will be interesting to see what becomes of Singapore with these new casino developments.
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