Tag Archives: Singapore
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…
Singapore – Sands to investigate VIP wire transfers at Marina Bay Sands
Las Vegas Sands is creating a committee to examine potential breaches of anti-money laundering standards at its Marina Bay Sands (MBS) property in Singapore. Following claims last year from ex-customer Wang Xi that Marina Bay Sands transferred US$6.8m from his player account to other gamblers without his approval, Sands will be probing money transfers among…
Singapore – Maybank predicts full recovery in mass gaming within two years at Resort World Sentosa
Maybank IB Research believes that Singapore’s Resorts World Sentosa will see a full recovery in mass gaming by 2020 with VIP gaming reaching 75 per cent of pre-pandemic levels by 2022. With Phase 3 of Singapore’s reopening plan expected to come into effect by the end of December, Genting Singapore is preparing to up its…
Singapore: Operators being dealt an unfavourable hand
Dependent on foreign visitors, Covid-19 has had a devastating effect on the revenues and future prospects of Singapore’s gaming operations. Travel restrictions and quarantine procedures guarantee an extremely slow recovery and a reduction in scale and jobs in the sector seems inevitable. G3 looks at the current state of the industry with Rajah & Tann…
Singapore – Increase in entry fees sees local play fall to 2.7 per cent of local population
Singapore’s Casino Regulatory Authority (CRA) has said it has achieved its goal of lowering the number of locals on gaming floors at Marina Bay Sands and Resorts World Sentosa with the 50 per cent increase in the entry fees introduced in April 2019. The entry fee for 24 hours of gaming was increased from SG$100…
Malaysia – Maybank predicts 70 per cent fall in EBIDTA for Genting Bhd
Maybank IR Research analyst Samuel Yin Shao Yang believes that the fall off in visitation to Resorts World Sentosa and Resorts World Genting could hit Genting Bhd’s EBIDTA by up to 70 per cent in 2020. The Singapore and Malaysia properties generate between 80 per cent and 90 per cent of Genting Bhd group earnings…
