Last but not least, another unique feature associated with the practice in Asian casino gaming markets is the relatively high proportion of table games to gaming machines. While the ratio of gaming tables to gaming machines in a typical North America casino is around 30, it is less than 10 in an Asian casino (see, e.g., Siu and Eadington 2009, 45). In one extreme case, for example, there were only 16 tables and no equipped gaming machines, as in the largest casino in Sri Lanka, the Ritz Club (International Land Casinos Directory—Sri Lanka).
This unique composition of gaming devices is likely to persist in the Asian markets for the foreseeable future. Duality of Markets Broadly speaking, the term duality of markets refers to the existence of two non-parallel segments (e.g., existing traditional sector versus newly developed modern sector) or two opposing forces (e.g., local versus international business practices), which interact with each other and produce the dynamics of market evolution.
Indeed, this concept is identical to the ceremonial-instrumental dichotomy described by Veblen (1899), which provides the pragmatic grounds to examine the differences in the evolutionary paths between various economies (or an industry in different economies). Gambling activities have long been a part of the history and culture in Asia, especially in China. However, related businesses are negatively perceived by the general public and have a low social status. This is due to the fact that most Asian societies are less developed.
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Thus, they lack an appropriate regulatory system to police the socially undesirable activities associated with gambling businesses. Consequently, stereotypical perceptions are derived from the concept of gambling dens instead of casinos or casino resorts. The former is a common term used in the past in Asia to describe a casino-like gaming venue. Indeed, gambling dens operate in the open and are suspected by many as having been triad related or controlled throughout Asian history.
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Together with underdeveloped regulatory systems in most of the countries, these gambling dens have generated an adequate force to encapsulate the modern development of this industry. On the other hand, following the rapid integration of Asia (especially East Asia) into the global economy beginning in the last quarter of the twentieth century, improvement of regulatory systems (including transparency and enforcement mechanisms) and political reforms carried out by various Asian governments have opened a new chapter in the development of casino gaming.
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