Gambling is big business around the world and nowhere more so than in the Far East. There are currently a number of Asian countries competing for leadership in the global the gambling market.

Now, a Singapore developer is taking the lead in getting a foothold in the Spanish market. If successful, the plans are likely to be good news for those hoping to rent out property in Valencia, where ARC Resorts is hoping to build a luxury resort with a six-star hotel, museum, spa, golf course and casino at Juan Carlos I Royal Marina.

Furthermore, they hope that these plans will stimulate interest in bringing another high-profile, substantially funded business to the city – the Formula 1 European Grand Prix in Valencia. They believe the revenue generated by the new resort, and the clientele it might attract, will definitely “justify its presence”.

All this could benefit people who have invested in property in Valencia, both in terms of capital growth and annual rental yield.