|China is not just the world's most populated country, but also the fastest growing economy in the world. Its online casino market is no exception. In the past 12 months, land-based casinos in China (mostly in Macau) raked in revenues in excess of US $2 billion. |
Commenting on the huge prospects of the Chinese online casinos, Zongjian Cai, Chief Operating Officer (COO) of 17173.com, a leading online casino said, 'China is the fastest growing online market in the world, exceeding $1.2 billion US in 2002'.
Companies like AngelCiti Entertainment, are all excited at participating at the Gaming and Casinos World Asia Pacific Conference in Singapore on October 1st and 2nd. Hundreds of online casinos who serve English speaking customers are currently exploring the prospects of tapping into the lucrative Chinese online casino market.
With over 68 million Internet users (as of June 2003) China is the world's biggest online nation right behind US. It's all set to take over US by 2006.
With the number of Internet users growing at the rate of 15 per cent or 8.9 million people in the first six months of 2003, SINA.com and IDC predict that in four years, China will make up 53.1 percent of Asia's Internet's users, 51.2 percent Internet buyers and 48.6 percent of e-commerce.
Include the Mandarin speaking Chinese population in Hong Kong, Taiwan and other parts of the world running into millions, the market just scales up.
'We have already developed our Chinese language website and have Japanese in development, with plans of expanding into Korean as the company continues to progress,' comments AngelCiti's President George Gutierrez. 'We strongly believe that the Asian markets provide the largest untapped resource in online gaming and this trip is designed to further our relationships and create new ones as we continue to expand,' he added.