Wednesday, June 26, 2024

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Singapore money laundering case questions use of online gaming proceeds from other jurisdictions: lawyer

The recent multi-billion-dollar money laundering case in Singapore has highlighted how licensed gaming operators outside of the city-state could potentially face criminal consequences if funds from such activities are being funneled into the Merlion city.

Singapore’s gaming market poised for continued growth: Morgan Stanley

The Singapore gaming market has emerged as a shining star in Asia's post-pandemic recovery, outpacing the once-dominant Macau in key performance metrics, according to Praveen Choudhary, Managing Director of Morgan Stanley Asia Limited.

Singapore gaming authority hires creative agency to help clarify ‘misconceptions’

The Gambling Regulatory Authority (GRA) of Singapore has officially named AKIN as its creative agency for social media initiatives, as part of efforts to 'clarify gambling regulations and correct common misconceptions'.

Genting Singapore: ‘robust growth’ in 1Q24, revenue tops $580M

Genting Singapore experienced 'robust growth' in the first quarter of 2024, delivering revenue of $580 million and adjusted EBITDA of $273 million.

Singapore bars individuals receiving criminal legal aid from accessing casinos

A new Singapore regulation effective since April 1 prohibits individuals receiving criminal legal aid from entering casinos, jackpot rooms, or accessing their Singapore Pools betting accounts while they are under representation.

Singapore takes lead over Thailand and Vietnam in wooing Chinese tourists back

Singapore has outpaced its neighbors in regaining Chinese tourists, boasting a 96 percent recovery rate, well ahead of Thailand and Vietnam.

China urges citizens to avoid gambling in Singapore

China's embassy in Singapore issued a strong advisory to its citizens, urging them to refrain from any form of betting while in the city-state, citing violations of Chinese laws regarding overseas gambling.

Singapore’s tourism growth to slow amid elevating competition: Insider 

Singapore is expected to experience a slowdown in tourism and gaming in 2024 due to escalating competition in the region, says Tradeview Capital Sdn Bhd CEO Ng Zhu Hann.

Maybank trims Genting Singapore profit estimates despite optimistic outlook

Although maintaining a ‘cautiously optimistic’ outlook for Genting Singapore in 2024, Maybank cuts its EBITDA and core net profit estimates by 6 percent and 11-12 percent, respectively.

Genting Singapore’s net profit tops $456M in 2023, up 80% year-over-year

Genting Singapore has announced a net profit of SG$611.6 million ($456 million) for the fiscal year 2023, which concluded on December 31st, marking an 80 percent increase year-over-year.