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Singapore Bracing for Competition from Japanese IRs

The opening of the first Japanese IRs may still be five or more years into the future, but Singapore’s recent decision to allow a US$6.6 billion expansion of its two IRs is related to an effort to ensure that Japanese competition doesn’t draw too much business away from the Southeast Asia city-state.

Morgan Stanley Cautious about Genting Singapore’s Near-Term Growth Prospects

Genting Singapore's financial results in the January-March 2019 period topped expectations, helped by a higher luck factor, but analysts say they are cautious about near-term prospects.

Singapore Government Winner in Casino Expansion

The Singapore government is seen as the main winner in the agreement to allow a US$6.7 billion expansion of the island’s two integrated resorts, gaining more tax and higher money from entry fees, according to analysts.

Singapore Allows US$6.7 Billion IR Expansion

Singapore has allowed the first major expansion of its integrated resort industry since its two IRs began operating, involving S$9 billion (about US$6.7 billion) new investment in non-gaming amenities, but casino entry fees and taxes will also rise.

Genting Singapore Gains 12% in October-December 2018 Period

Genting Singapore posted a 12% gain in the October-December 2018 period in terms of net profit, saying that over the year it had seen an encouraging performance in both gaming and non-gaming business, boosted by its marketing efforts on the premium mass segment.

Genting Singapore Facing Mass Competition from Philippines and Cambodia

Genting Singapore is facing increasing competition in the mass market from the Philippines and Cambodia, though management sees room for growth in VIP, according to Nomura.

Singapore Betting Tax Flat Since 2017

Singapore raked in S$2.7 billion (about US$1.97 billion) in betting taxes in the 2017/2018 financial year, unchanged from the year earlier.

Singapore Visitor Numbers Up, But Spending Down

Singapore welcomed 4.6 million visitors in the first quarter of 2018, a 7.3 percent boost over the prior year. However, despite a rise in visitors, tourist spending fell half a percent to S$6.7 billion (US$4.9 billion) due to lower spending in shopping, accommodation, and F&B.

Marquee to Make Asia Debut in Marina Bay Sands

Nightclub brand Marquee will make its Asian debut at Marina Bay Sands in Singapore as part of a series of new initiatives designed to boost the resort as a nightlife destination.

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Privacy Important Issue When Policing Casino Worker Entry Ban

Privacy will be a significant hurdle to overcome for operators in enforcing the new casino worker entry ban, says MGM CEO Grant Bowie, TDM News reports.

Global Casinos Not Attracting Japan Tourists

Asia’s glitzy IRs and casinos around the world are not attracting large numbers of Japanese tourists, despite their propensity to gamble in pachinko parlors at home, operators on a panel at the World Gaming Executive Summit in Barcelona said.

The Road Ahead for Japanese IRs

With the passage of the IR Implementation Act on Friday evening, attention will soon begin to turn to the steps ahead.

Cafe de Paris Opens in Galaxy Macau

Galaxy Entertainment is building on its relationship with Monaco casino company Societe des Bains de Mer to bring a French bistro brand to its Galaxy Macau resort, building on Macau’s culinary repertoire.

Tourism Dramatically Expanding to Nagasaki’s Goto Islands

The Goto Islands in Nagasaki Prefecture are witnessing a dramatic growth in tourist numbers this year as travel agencies put a new focus on tourism to remote Japanese islands.