Singapore

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.

Tourism spending in Singapore fell for the first time in six years in 2015, down 6.8 percent to SG$22 billion (US$15.7 billion), according to the Singapore Tourism Board.

Genting Singapore has reported a net profit in the fourth quarter at S$22 million (US$15.7 million), down 82 percent from S$118.9 million in the same period in 2014, according to a recent financial statement.

At least 30 employees at Resorts World Sentosa (RWS) in Singapore have been let go over the Chinese New Year period, according to local media.

Genting Singapore stocks are expected to outperform due to a stabilizing Singapore gaming market, strong cash flow generation and a resumption of sizable share buy back, says a report from Bernstein.

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