The boom, fuelled by regional governments lifting bans on casinos, will also spark a tussle among gambling operators for high rollers, the Straits Times newspaper, quoting analysts from US investment bank Merrill Lynch, said.

"Competition for new licenses will intensify. It's a reflection of a lack of opportunities. Many of the markets are pretty mature," Merrill Lynch analyst Sean Monaghan said.

The majority of these new casinos will be housed in five-star establishments, Monaghan and his colleague Tony Raza said.

Analysts say gambling has enormous economic potential in Asia, with millions of dollars wagered daily across the region on everything from slot machines and cards to cock fighting.

Governments across the region are scrambling to convert illegal gambling activity, which currently amounts to nearly 80 percent of gaming coffers, into legal gambling, while at the same time furthering their tourism sectors.

Singapore's government announced in April amid fierce domestic opposition that two Las Vegas-style casino resorts would be built by 2009 to spice up its staid image and attract more tourists.

Macau, dubbed Asia's Las Vegas for its gambling-dependent economy, last year pledged to build 30 new casinos and hotels in the next five years, while Thailand and Japan have also indicated similar plans.

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