Sonata Financial Points Out Promise In Asia For The Gaming Industry

Online, December 3, 2012 (Newswire.com) - Gaming enthusiasts throughout Asia have seen their options expand in recent years, but massive growth remains before the industry comes anywhere near exhausting the enormous market. Across Asia, games of chance are a popular pastime, yet less than 100 gaming resorts exist in the region compared to more than 900 in the United States.

Macau is the best example of gaming success in Asia, however other countries are taking note and beginning to develop the sector on their own soil. Macau has experienced 30-35% annual revenue increases over the past 7 years. Las Vegas Sands experienced great success with their development in Singapore, and current developments around the region and in Australia offer great promise.

Singapore is one of the regions newer gaming destinations, and the two gaming resorts operated by Genting Singapore and Las Vegas Sands Corp. experienced occupancy rates above 90% in the 3rd quarter of 2012. Though tightening regulations have caused slight revenue drops for the Singapore giants, the sector remains positive into 2013.

Though Macau and Singapore have led the way, it is their neighbors that show the most promise for growth. Sonata Financial expects that Australia and the Philippines will be hotbeds for gaming sector growth over the next 5-10 years. Gaming revenues in the Philippines will likely more than double over the next 3 years, and massive improvements in Australia will help to boost the industry and attract new affluent gamblers from China.

It is no secret that Asia-Pacific gaming is on the rise. With so much new wealth there is bound to be a significant increase in gamers, and the Philippines and Australia are looking to capitalize.