Wealthy Asians Love Gambling

There is an article in NY Times today talking about how Las Vegas benefits from a booming Chinese/Asia economy and a weak US dollar.

The writer believes international tourism is increasing because the US dollar is on sale. Also, “wealthy Asian players are risking — and losing — money in record numbers inside the city’s most exclusive V.I.P. lounges”. I totally agree with this point as I always know that Chinese like to gambling (or lose money). Chinese love to dream about winning BIG in the lottery or casino. I am lucky that I don’t have this trait at this moment. When can we understand that most lottery winners will declare bankruptcy eventually?

I am really surprised The Venetian is adding another 3,200 suites in Las Vegas after building one of the biggest casinos in Macau. I wonder how well they have controlled their cost on these projects. The world economy is not very stable at this moment and the stock market in China is not healthy either. Many of them are just wealthy on paper. What will happen if the stock market crashes in China after Beijing Olympic?

Anyway, based on this example, we can understand the huge potential of the online gambling market in Asia. Online gambling is always one of the most profitable categories in the Internet. But, of course, it will take forever to get approval from the government. Let’s see who will be the first-mover in this market.

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