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Infotech Firms to Profit from Singapore Casinos

21 April 2005

SINGAPORE – As reported by the Singapore Business Times: "Specialist infotech firms offering niche solutions for casino operators could hit the jackpot once the two integrated resorts come up in Singapore.

"Anurag Agrawal, chief operating officer of New York-based Access Markets International Partners, told BT in a phone interview that typically about 10 per cent of the overall cost of an integrated resort would go into technology solutions.

"'New technology like RFID (radio frequency identification) is now entering the casino business,' Mr Agrawal said.

"…'The overall gaming market is worth about US$10 billion, including casino gaming, online gaming and online gambling,' according to Chimera, a Nevada-based gaming and e-commerce firm. 'In 2003, it was estimated that the online gaming industry generated revenues in excess of US$5.7 billion.'

"A typical Las Vegas casino would have between US$5 and US$15 million worth of infotech embedded in its slot machines, surveillance systems, ambience, lighting and atmosphere control equipment, jackpots, fraud-prevention systems, and back-end data processing, reconciliation, and mirroring systems.

"Singapore's plan to set up two integrated resorts with casinos will attract specialist technology firms offering niche solutions. The firms are so specialised that few people even in the infotech industry have heard of them, and their solutions so specific that traditional IT companies have no equivalent offerings…"

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