Singapore will likely eclipse Las Vegas as the second largest gaming market in the world this year, American Gaming Association President and CEO Frank Fahrenkopf Jr. told an audience gathered at Global Gaming Expo Asia, a gaming industry conference and trade show that took place this week in Macau.

According to Fahrenkopf, Singapore’s two integrated casino resorts generated $5.1 billion in gaming revenue in 2010, and are on schedule to product $6.4 billion this year. Meanwhile, Las Vegas casino resorts created $5.8 billion in revenue for 2010, and are unlikely to grow much beyond that in 2011.

Macau continued to be the single largest gaming market in the world, producing $23.5 billion in revenue last year, and is expected to grow that figure by 25 percent to 50 percent this year.