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Singapore Visitors Reach 7.8 Million in First Five Months

Singapore attracted a total of 7.8 million visitors to the city-state in the first five months of the year, representing a 1.5% growth over the previous year.

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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Fitch Asia Markets

Fitch Pegs Japan IR Revenues at US$6 Billion

Fitch Ratings has estimated that the first round of IR construction in Japan will create revenues in the US$6 billion range, much smaller than, for example, the Morgan Stanley report of April 11 which foresaw a US$15 billion Japanese IR market developing by 2025.

Casino Entry Fee Remains Point of Contention

Japan’s proposed anti-addiction measures are viewed as generally “well-balanced,” though a lowering of the casino entry fee should be considered, said experts at the Japan Gaming Congress on Friday.

Hong Kong Jockey Club Warns about Illegal Betting

Illegal gambling is growing twice as fast as wagering and about US$140 billion is laundered annually though illegal markets, local media reports.

Laguna Lăng Cô Receives Casino License, Expects 2022 Opening

The Laguna Lăng Cô integrated resort is expected to open its new casino in 2022, after receiving the country’s first casino license in ten years.

Shares in South Korea’s Casino Operators Rally Ahead of Summit

Shares in South Korea’s casino operators rallied on Tuesday ahead of a summit between US President Donald Trump and North Korea’s Kim Jong-Un on hopes for greater cross border cooperation, including a potential casino project.