Singapore Asia's Second Largest Casino Hub

Singapore is set to become the Asia-Pacific region's second-biggest market for casinos by the end of 2011, according to a new report by PricewaterhouseCoopers.

Macau and Singapore

The report, entitled "Play to Win," forecasts that Singapore's casino revenue will grow to US$5.5 billion next year, up from US$2.8 billion this year. That would see it overtake Australia and South Korea to sit in second place in the region, behind only Macau, whose casino industry will be worth an estimated US$28.4 billion by next year.

Macau and Singapore will remain in first and second places by the year 2014, with projected revenues of US$45 billion and US$8.3 billion respectively.

The projections show the massive gains the local casino industry has made less than a year since Singapore's first two casinos opened their doors. Resorts World Sentosa opened in February 2010, followed by the Marina Bay Sands a couple of months after.

PwC's report was also positive about Asia in general, predicting that Asia's gambling industry (when Australia is included) will account for almost the same percentage of the world market at the United States by 2014.