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Tag Archives: Singapore

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…

China – Sands confident of returning to $5bn plus EBITDA from Asia

Despite positive adjusted property EBITDA in Macau and Singapore, Las Vegas Sands said it continued to be affected by pandemic-related travel restrictions and reduced visitation. For the quarter ended June 30, 2021, it generated net revenue of $1.17bn, compared to $62m in the prior year quarter. Operating loss was $139m, compared to $757m in the…

Singapore – Singapore’s casinos able to invite four players to the table

Marina Bay Sands and Resorts World Sentosa are now allowed to operate with four players at each gaming table double the previous COVID-restricted laws, according to the Singapore Tourism Board,. The new restrictions came in on June 14 and see electronic gaming machines and slot machines operated with one player seated at each machine and…

Singapore – Singapore’s casinos to take four years to reach pre-pandemic revenue levels

Brokerage firm Sanford C. Bernstein believes Singapore’s gaming revenue won’t reach pre-pandemic levels until 2025 with the VIP sector being particularly slow to rebound. Analysts Vitaly Umansky, Louis Li and Kelsey Zhuon believe GGR at Resorts World Sentosa and Marina Bay Sands will take four years to reach 73 per cent of 2019 levels by…

Singapore – Genting Singapore sees revenue plunge by 32 per cent

With COVID still gripping many of Genting Singapore’s key markets, the operator of Resorts World Sentosa saw its revenue and profit plunge in its first quarter of the year. The Group’s first quarter 2021 revenue decreased 32 per cent as compared to the same period last year as the impact of the COVID-19 pandemic which…