From Las Vegas to Baku: Azerbaijan enters global casino race
The global casino industry is undergoing one of the largest transformations in its modern history. What was once associated primarily with gambling halls and entertainment districts has evolved into a multi-billion-dollar international tourism business that combines luxury resorts, five-star hotels, shopping centers, concerts, sports events, restaurants, and convention infrastructure.
Today, countries around the world are increasingly competing for a share of the global gaming and entertainment market. Governments view integrated casino resorts not only as gambling venues, but also as strategic economic assets capable of attracting millions of tourists, generating billions of dollars in investment, creating jobs, and boosting tax revenues.
The world’s undisputed casino capital remains Macau — the Chinese special administrative region often referred to as the “Asian Las Vegas.” After liberalizing its gaming industry, Macau transformed into the largest casino market on Earth, overtaking Las Vegas many years ago. According to recent industry data, Macau’s gaming revenues exceeded $28 billion in 2024 alone.
The city’s economy is deeply dependent on casinos, with gaming taxes accounting for nearly 80% of government revenues. Major international operators such as Sands, Wynn, MGM, and Galaxy Entertainment have invested tens of billions of dollars into giant integrated resorts across the Cotai Strip, turning Macau into one of the world’s most visited tourism destinations.
The second major center of the global casino industry remains the United States, particularly Las Vegas. The city has become a symbol of luxury entertainment and tourism. Las Vegas attracts more than 40 million visitors annually and hosts some of the largest hotels and entertainment complexes in the world.
Unlike traditional gambling venues of the past, modern Las Vegas casinos generate huge profits not only from gaming, but also from concerts, exhibitions, restaurants, shopping malls, sporting events, and business tourism. International stars regularly perform in Las Vegas, while the city hosts Formula 1 races, UFC tournaments, and major global conferences.
The casino industry has also become a crucial economic driver in Singapore. Before legalizing casinos, Singapore carefully studied the economic models of Las Vegas and Macau. The government eventually approved the construction of integrated resorts under strict regulation.
The result was one of the most successful tourism projects in Asia. Marina Bay Sands and Resorts World Sentosa dramatically increased Singapore’s international tourism flows, transforming the country into a global entertainment and conference destination. Today, the iconic Marina Bay Sands hotel is considered one of the most recognizable tourism landmarks in the world.
Meanwhile, the Philippines has rapidly emerged as a growing Asian gaming hub. Manila’s Entertainment City now hosts massive casino resorts targeting visitors from East Asia. The Philippine government sees gaming tourism as a major source of foreign investment and economic growth.
At the same time, attention is increasingly shifting toward Thailand, where authorities are discussing the legalization of casinos and the creation of large integrated resorts in Bangkok, Phuket, Pattaya, and other tourism centers. Analysts believe Thailand could become one of the world’s largest casino markets due to its already enormous tourism industry.
Several other countries are actively investing in casino tourism:
- Japan is preparing to open its first large-scale integrated casino resort in Osaka, backed by billions of dollars in foreign investment;
- United Arab Emirates is entering the casino market through the construction of the Wynn integrated resort in Ras Al Khaimah;
- Vietnam continues to expand gaming tourism projects for international visitors;
- Cambodia has built a strong regional casino industry near border zones with Thailand and Vietnam;
- Cyprus is developing City of Dreams Mediterranean, one of Europe’s largest integrated casino resorts;
- Georgia has turned Batumi into a significant regional casino destination attracting visitors from Türkiye, Israel, Russia, and Gulf countries.
Against this backdrop, Azerbaijan is now emerging as a potentially important new player in the regional entertainment and gaming industry.
A major discussion began after Azerbaijani businessman and People’s Artist Emin Agalarov announced plans to build what could become the largest casino complex in Europe within the Sea Breeze resort city near Baku.
Credit: banker.az
According to Agalarov, the project would cover more than 90,000 square meters and include over 100 gaming tables, more than 1,500 slot machines, luxury retail zones, premium restaurants, entertainment venues, branded hotels, and a concert hall.
The businessman stated that the future complex could host international poker tournaments capable of attracting between 3,000 and 5,000 foreign guests from different countries. The casino alone could reportedly spend more than $150 million annually within Azerbaijan’s domestic economy.
If approved and implemented, the Sea Breeze casino project could significantly transform Azerbaijan’s tourism sector. Experts believe the development may help diversify the country’s economy, increase non-oil revenues, extend the tourism season beyond summer months, and create thousands of highly paid jobs in hospitality, services, security, retail, entertainment, and infrastructure.
Credit: blueavocado.org
The project could also strengthen Baku’s position as a regional tourism and entertainment hub connecting Europe, the Middle East, Central Asia, and Russia.
For Azerbaijan, the development of integrated entertainment tourism may become particularly important as the country continues seeking economic diversification beyond hydrocarbons. Similar casino-resort models in Singapore and Macau demonstrated how tourism infrastructure can generate enormous long-term returns for national economies.
However, experts also note that casino legalization requires strict regulation, financial transparency, security systems, anti-money laundering mechanisms, and strong government oversight. Many countries that successfully developed gaming industries did so only after creating comprehensive legal and regulatory frameworks.
Globally, the casino and gaming industry is now valued at well over $55 billion annually and continues expanding due to rising international tourism, luxury travel demand, and large-scale entertainment investments.
The countries and regions generating the largest casino revenues today include:
1. Macau;
2. Las Vegas and the state of Nevada;
3. Singapore;
4. Philippines;
5. France;
6. Australia.
In the modern economy, casinos are no longer merely gambling establishments. They have evolved into enormous tourism ecosystems that combine luxury hospitality, shopping, entertainment, sports, conventions, and international events.
As global competition for tourism revenues intensifies, more countries are expected to enter the casino resort industry in the coming years — and Azerbaijan may soon attempt to position itself among them.
By Ulviyya Salmanli
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