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MikeB on 29 May 2008
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1) Asia €7.4bn

2) European Union €7.3bn

3) United States €6.9bn

Adding the many European countries not part of the European Union the region should top Asia though.

http://www.worthplaying.com/article.php?sid=52505

http://www.gamesindustry.biz/articles/eu-is-second-largest-videogaming-territory 



Naughty Dog: "At Naughty Dog, we're pretty sure we should be able to see leaps between games on the PS3 that are even bigger than they were on the PS2."

PS3 vs 360 sales