Posts Tagged ‘asia casinos’
Asia Casinos
Asian gambling is now on the rise and increasing by the minute. The government of Asia has relaxed gaming rules, realizing that it brings in tax revenue and funds for the infrastructure. Casino operations are seriously looking into areas of Asia to invest in and develop.
In Asia, gambling is a very unbalanced industry. There are big, commercialized ventures in places like Macau, as well as thousands of tiny, corrupt gambling dens all over Southeast Asia.
It is estimated that the $4.1 billion casino industry will grow 6% every year for 20 years, as legal gambling increases every day throughout the continent. One thing that is causing the rise in gambling is the relaxation of traveling rules in China. In China, there is a large middle class with disposable income. This middle class majority is constantly growing.
Macau is considered the model country for casino operations in Asia. Recently, two new casinos were opened in Macau–Wynn Resorts and Galaxy Casino. Both are headed by Las Vegas casino operations. The Macau casinos are making huge profits, making businessmen and Asia as a whole take notice.
In Japan, gambling is very limited, with horse racing and a game called pachinko being the only legal forms of it. The Japanese have been pressuring the government to lift the casino ban, but this request has yet to be fulfilled.
The Philippines is one of the only Asian countries to allow casino gambling. They are now in the process of developing a hotel-casino in their country.
In central Asia, there is also gambling that goes on, both legal and illegal. The biggest casino in the area of central Asia is called Grand Casino. This operation is located in Ashgabat, Turkmenistan. In central Asia, there are casinos in India, Sri Lanka, Nepal, Bhutan, Pakistan, and Russia.
As discussed above, there are not many legal casinos in southern Asia. Nepal is one of the few areas that has had legal casinos for a long time–since 1968. Nepal now has six casinos in operation. Sri Lanka and Goa in India also have legal casinos running in their countries. In Goa, there are currently six legal casinos in operation. Cruise-based casinos that pass by coastal India are also quite popular.
The Asian government has said it will allow overseas investors to come and open casinos on their land. The only thing investors must have in order to do so is $500 million up front.