Singapore

Singapore Pools and the Singapore Turf Club are seeking to benefit from an exemption to the island state’s draconian ban on online gambling, with Pools already making plans to upgrade its systems despite the early stage of the approvals process.

Singapore Pools and the Singapore Turf Club are seeking to benefit from an exemption to the island state’s draconian ban on online gambling, with Pools already making plans to upgrade its systems despite the early stage of the approvals process.

 



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Bernstein Research says Genting’s business mix is generating strong cash flow driven by mass and non-gaming and is more diverse than that of the Macau operators.

The Asian-African Tote Association (AATA), which was established last year to foster relationships between global wagering operators, wrapped up its annual conference in Sydney Sept. 4th- 5th, with leading industry figures providing insight on topics including the potential of co-mingling and the challenges posed by illegal gambling.

The Asian-African Tote Association (AATA), which was established last year to foster relationships between global wagering operators, wrapped up its annual conference in Sydney Sept. 4th- 5th, with leading industry figures providing insight on topics including the potential of co-mingling and the challenges posed by illegal gambling. As wagering operators face mounting competition from other forms of gambling, they are also contending with an illegal market, offering cheaper products and worth potentially as much as $500 billion.



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Analysts have cut their forecasts for Genting Singapore due to weakness in the Singapore and Chinese economies and currency headwinds with the Malaysian Ringgit and Indonesian Rupiah.

Fitch Ratings stated that the outlook for the gaming industry in Singapore and Malaysia continues to be stable.

Loyalty programs have been in vogue in the casino industry for around thirty-five years, but are operators in Macau and Singapore getting the most from their offerings?

 

Loyalty programs have been in vogue in the casino industry for around thirty-five years, but are operators in Macau and Singapore getting the most from their offerings?



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Singapore has made its position against online gambling clear, outlawing the practice through some of the most draconian legislation anywhere in the world. However, the law has left major grey areas, in particular when it comes to social gaming.

Universal Entertainment Corp will list $600 million-worth of notes on the bond market with effect from Tuesday morning.

 

Maybank Kim Eng research said Genting Singapore’s 15Q2 results missed estimates due to low VIP hold rate, adding that hold adjusted results would have been in line.  

GENS reported net loss of SGD16.9 million ($12 million) was due to derivative and forex losses of SGD95 million and SGD84 million respectively, said Maybank analyst Samuel Yin Shao Yang.

RWS’s revenue amounted to $577.8 million, a drop of 23 percent year-on-year.

Genting Singapore, which operates Resorts World Sentosa, reported revenue of $578.1 million for 15Q2, a significant year-on-year drop due to the downturn of the gaming industry in Asia, the company said.

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