Singapore

Singapore’s gambling market is expected to be fat in 2016 and with no new catalysts to fuel growth the battle for market share between the two established casino operators is likely to continue.

Singapore-based e-sports company Titan, is near closing due to financial difficulties. The professional gaming organization, which was home to several top professional e-sports teams, including CS:GO and Smite, made the announcement on its website on Jan. 13.

Genting Singapore is likely to have a “somewhat better” 2016 after a disappointing 2015 when shares fell 29 percent, says Japan-based brokerage house, Nomura.

A Singaporean man was charged over the weekend for the possession and use of counterfeit casino chips, which were allegedly used at the Marina Bay Sands.

Governments from Singapore to New Zealand are concerned about their citizens betting offshore and are looking for ways to recapture, or replace, tax revenue and income for racing clubs and sporting bodies.

 

 

Governments from Singapore to New Zealand are concerned about their citizens betting offshore and are looking for ways to recapture, or replace, tax revenue and income for racing clubs and sporting bodies.

 



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The outlook for the gaming industries in Singapore and Malaysia remains stable despite challenging economic conditions, Fitch Ratings says in a report.

Las Vegas Sands’ Singapore operation will see modest but consistent growth over the next few years, Forbes reports.

Singapore police said that 51-year-old Tan, also known as Tan Seet Eng was re-arrested on Tuesday Dec. 1, for “involvement in criminal activities.”, he was released only a week earlier when the high court found him to be held unlawfully.

Las Vegas Sands’ Singapore unit delivered a healthy set of Q3 results, showing the market it was resilient to the downturn in China VIPs and lending weight to the view the market may have bottomed out in the first half. 

Genting Singapore reported weaker-than-anticipated results in 15Q3 as it lost market share to rival Marina Bay Sands.

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