Singapore has opened 2 new casinos and is slowly beginning to attract the majority of Eastern hemisphere gamblers to their country. People prefer to gamble closer to home, and the sudden increase in gambling in Singapore is expected to rival that of Las Vegas in the coming 2 years. Not only could this affect the revenue in Las Vegas, but it could shift the entire gambling and casino industry. There will be more demand for casinos in Singapore, as well as an increased level of tourism and revenue from the casinos. This could also inadvertently affect the hotel industry, because there will be a greater demand for hotels as more and more Eastern Hemisphere gamblers flock to Singapore’s casinos.
Although Las Vegas will most likely continue to thrive, "instead of the [Eastern Hemisphere] player making two or three trips to Las Vegas in the year they may make only one trip and the other two trips may be more closer regionally." (Andy Nazarechuk). This is also a further testament to the importance of easy access in all aspects (hotels, restaurants, and leisure). People want convenience- they don’t want to travel hundreds of miles to enjoy themselves. Shifts in the location of different amenities will cause shifts in the location of tourism and market.
I like how you pointed out how this could affect not only the leisure industry, but also cause a shift in the entire Hotels and Restaurants Industry as well. What are some preventative actions that the casinos in Las Vegas may take in order to keep Eastern Hemisphere gamblers from switching their business to casinos in Singapore?
ReplyDeleteNice commentary Rebecca. It is interesting to note as the rest of the world develops that travel destinations in the US will lose out.
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