Asia casino future bright, but government inaction slowing growth

Asia’s casino markets are being held back by a lack of regulation, rather than lack of demand, with the underlying drivers for growth, such as under penetration, a rapidly growing middle class and strong propensity to gamble still intact. That was the message from speakers at the G2E Asia conference in Macau this week, with analysts bullish on the prospects for the region despite the current market downturn. Melco International Development chief gaming officer Andy Choy pointed out that Asia is underserved when it comes to casinos. The total number of properties is forecast to increase to around 230 in the next five to seven years, but this still won’t be enough. “Casinos in this region is far underweight,” he said. “To put this into perspective – United States has 350 million people, 48 states and 1,400 casinos,” said Choy. “Asia, on the other hand, four billion people, with less than...

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