In search of buzz, Asia bets on gambling
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Looks like Singapore is the first SEA country to crack and allow Vegas style casinos to operate.
Not sure if they plan on having poker but StudioGlyphic and I were talking about this the last time we were at Commerce. Thailand (and many other countries in the region) have absurdly low costs of living. Even in a major city like Bangkok you can live on $1000 a month, live well on $2000 a month, and live like a king on $3000 a month. Contrast that to Los Angeles where rent in a good neighborhood could run $1500 - $2000 for a 2BR pad. When you do the math, a guy making $3000 a month after taxes, medical benefits, etc. (which is about $55k - $60k a year) spends $1500 on rent and utilities. Food, car, gas, etc. run him another $1000 a month. Figure another $200 for entertainment and the guy’s got $250 in disposable income. Same guy living in SEA makes $3000 a month playing poker, sends $1500 total on all of the above and has $1500 disposable income.
I’m sure it won’t happen immediately but after a few years of operations and possibly a WPT event being held at a major SEA casino you could find American (and British, and Aussie) ex-pat poker players making SEA their new home. Should be interesting to see how it plays out in the long term.
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educatewandie added these pithy words on Apr 20 05 at 2:02 amTime to cash in?
Now that plans have been greenlighted. It’s time to start thinking
about potential ‘personal’ gains while the resorts get built and the committees get set up. You have to start asking yourself, is it time to bua giao tan jiat? (earn a living by gambli…
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