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Tag Archives: Singapore

Singapore – Marina Bay and Resorts World Sentosa to feel the pinch of future Thai casinos

The future Thai casino sector could eat into Singapore’s casino revenues by as much as a quarter according to research by Maybank. Maybank analyst Samuel Yin Shao Yang believes the birth of Thailand’s casino industry could ‘supercharge’ Thailand’s tourism sector taking Chinese visitation away from Singapore and Malaysia. Singapore could be especially at risk due…

Singapore – IGT signs six-year contract with Singapore’s lottery operator

International Game Technology’s subsidiary, IGT Global Services Limited, has signed a six-year contract with Singapore Pools to provide IGT’s powerful central lottery system, Aurora, and its related technologies. IGT’s Aurora was built to drive lottery innovation and profitability and will offer reliability for Singapore Pools’ high volume of transactions. “IGT’s positive reputation and its global…

Singapore – Tourism figures beginning to rise in Singapore

The Singapore Tourism Board has confirmed that 124,760 people arrived in the country between January and February, marking a 204 per cent increase from 2020, following a gradual easing of border controls form 30 countries. Keith Tan, CEO of the Tourism Board, said the country had seen 67,760 international visitors come into the country on…

Singapore – Singapore approves new laws to ban proxy betting

Singapore has approved two new pieces of legislation that will see proxy betting and underage gambling criminalised. Minister of State for Home Affairs Desmond Tan said: “Casinos will be liable to regulatory action, like financial penalties, if they fail to enforce this. [Proxy betting] should be prohibited as the decision maker (the person located outside…

Singapore – Maybank says Macau’s junket collapse will see Singapore’s premium mass players targeted

Maybank IB Research believes the collapse of the junket sector in Macau could have a detrimental affect on the two casinos in Singapore who will be subjected to increased competition for premium mass players with casinos in the Philippines and Cambodia also affected. Maybank Analyst Samuel Yin Shao Yang said: “We fear that the IRs…

Singapore – Genting Singapore falls 16 per cent

Genting Singapore reported adjusted earnings before interest, tax, depreciation and amortisation (Adjusted EBITDA) of US$76.1m in its third quarter, deteriorating from the last quarter, resulting in a 31 per cent dip from the same period last year due to the series of enhanced safe management measures introduced to curb the surge of new community cases….

China – Sands almost doubles Q3 earnings

Las Vegas Sands generated net revenue of $857m, compared to $446m in the prior year quarter. Operating loss was $316m, compared to $523m in the prior year quarter. Net loss from continuing operations inthe third quarter of 2021 was $594m, compared to $664m in the third quarter of 2020. Consolidated adjusted property EBITDA was $47m,…

Singapore – Singapore’s casinos only open to double jabbed players

Marina Bay Sands (MBS) and Resorts World Sentosa (RWS) in Singapore will have to ensure that anyone who is not fully vaccinated against COVID-19 is not allowed anywhere in the premises with groups limited to just two people. The Ministry of Health announced the policy for proof of double vaccination on October 13 with its…

Singapore – Genting Singapore grows revenues by 24 per cent

For the first half of 2021, Genting Singapore, operator of Resorts World Sentosa in Singapore, grew its revenue by 24 per cent to $554.8m for he half year to June compared to the previous year, with the net loss reversing to a net profit of $88.2m. This is an improvement compared to the corresponding period…