Singapore

Genting Singapore swung to a net profit of S$159.98 million (US$113.2 million) for the fourth quarter ended Dec. 31, 2016, compared to a net loss of S$7.8 million in the prior year period.

Visitor arrivals and tourism spending in Singapore hit record highs in 2016 despite challenging economic conditions, according to figures released by the Singapore Tourism Board (STB) on Tuesday. While visitor arrivals grew 7.7 percent to 16.4 million in 2016, tourism receipts rose even higher, increasing 13.9 percent to SG$24.8 billion (US$17.5 billion) in 2016.

Casinos across Asia must find a way to balance innovative new payment solutions with a labyrinth of multi-jurisdictional AML, compliance and responsible gaming requirements, according to a number of industry insiders.

 

 

Casinos across Asia must find a way to balance innovative new payment solutions with a labyrinth of multi-jurisdictional AML, compliance and responsible gaming requirements, according to a number of industry insiders. One supplier told AGB on condition of anonymity that innovation in the payments space "remains a thorny issue", adding that while operators don’t want to lose customers, the need to adhere to strict AML requirements tends to take precedence.



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Singapore’s two IRs are seeing improved profit due to cost cuts and operational efficiencies, but topline growth continues to be lacklustre with no new catalysts for gaming growth and increasing competition from other regional destinations.

Gaming addiction is viewed as a major challenge across Asia, with growing access to online and mobile gaming raising the risk for problem behaviour, researchers say.

 

Gaming addiction is viewed as a major challenge across Asia, with growing access to online and mobile gaming raising the risk for problem behaviour, researchers say. Concern over problem gambling is often cited as a key reason why regional governments ban access to casinos for their residents and how to effectively tackle the issue may play a role in shaping future legislation.



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Gaming revenue in Singapore is expected to remain at around US$4 billion in 2017 as the VIP segment continues to wane, said Fitch Ratings in a note on Tuesday.

Las Vegas Sands subsidiary Marina Bay Sands is looking to sell 49 percent of its stake in luxury mall, the Shoppes for US$3 billion to US$3.5 billion.

Over 88 outlets and four LiveWire betting venues run by Singapore Pools had to suspend their sports betting services and winnings collection over two days as a result of a technical issues.

 Assertions that Malaysia is now Southeast Asia’s epicenter for match fixing didn’t go down well with the country’s authorities. But just how accurate are these claims and why do so many fixes emanate from this part of the continent? It was during a forum on match fixing in Singapore that sports integrity consultant Chris Eaton ruffled a few feathers by suggesting Malaysia had supplanted Singapore as the fixing hub in Southeast Asia following a crackdown in the city-state. 

 



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Japan will prove to be the largest opportunity in gaming today and all hospitality companies will be active in the market evaluating the potential opportunity while the legislation is being written.

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