Casino capitals

19 March 2010 By John Foley Follow @johnsfoley

Two new glitzy supercasinos in Singapore aim to poach trade from Las Vegas and Macau. With no captive gambling audience, less VIP traffic and tough regulation, Singapore looks unlikely to become a gaming capital. Still, it’s easy to see why investors are betting on the project.

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Genting Singapore opened its Universal Studios Singapore theme park on March 18, as part of the city state's first legal casino complex. The main casino, which opened on Feb. 14, has 530 gaming tables and 1,300 slot machines.

A second casino complex, Marina Bay Sands, is scheduled to open in April. Owned by U.S. gaming company Las Vegas Sands, it will have up to 1,000 gaming tables and 1,400 slot machines.

Macau, the only part of China where casino gambling is legal, recorded a 66 percent yearly increase in gross gaming revenue for January and February. January saw record revenues, while February was also a record on a revenuesperday basis.

Las Vegas's home state of Nevada registered a 3.2 percent decline in gaming revenues in January, compared with a year earlier. Revenues from the main Las Vegas Strip, which makes up around half of the state's total, also fell 3 percent.

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