Singapore

Casino operator Genting Singapore has announced that it has dissolved two more subsidiaries this week.

Genting Singapore announced on Friday that its indirect wholly-owned Macau subsidiary, Genting Star (Macau) Limited (GSML) has been dissolved and liquidated.

Genting Singapore has confirmed a final dividend of SGD0.015 (US$0.01) per share for the year ending Dec. 31, 2015.

Las Vegas Sands Corp. chairman and CEO says he’s considering selling Marina Bay Sands’ retail assets after a government-imposed moratorium expires next year, Bloomberg reports.

Macau casino operator Sands China Ltd reported 16Q1 profit fell 9.6 percent year on year, a result of a challenging operating environment in Macau.

Genting Singapore, whose 2015 profit plunged by 70 percent to S$193.1 million ($138 million), is expected to suffer more pain ahead as it struggles to reposition the brand and recover from prior lending policies.  

 

Genting Singapore, whose 2015 profit plunged by 70 percent to S$193.1 million ($138 million), is expected to suffer more pain ahead as it struggles to reposition the brand and recover from prior lending policies.  Singapore’s two casinos have both been at pains to find catalysts for growth, with the highly regulated market offering little room for further expansion. However, Resorts World Sentosa appears to be slipping further behind its rival Marina Bay Sands. We take a look at views for its prospects.



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Singapore’s two casinos are struggling to find new momentum for growth, with slowing tourism spending, lower VIP revenue and a weakening economy. Though analysts say one is falling behind.

Omni-channel’s transition from industry buzzword to transformative strategy has been swift, but will it have the same impact in Asia?

While the business of selling slots to casinos and online operators remains distinct, the two have been brought closer together in recent years by a new strategic approach which stresses the importance of offering consistency in product, payment and marketing  - both in-venue and online. Omni-channel has been a favorite term on the industry conference circuit for some time now, but it appears to finally be having a tangible impact on the strategy and results of many of



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A Malaysian man has been arrested for his suspected involvement in a case related to counterfeit casino chips, which was first reported in 2011.

A 24-year-old Malaysian man who was arrested for stealing almost SG$1 million worth of casino chips, along with car keys and cash, has been sentenced to 48 months’ jail, local media reports.

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