29th Oct 2011 SAT
News Report Extracts from Singapore
Marina Bay Sands Stands To Beat Genting RWS This Round
The 3rd quarter 2011 gaming revenue results for MBS is fantastic and above expectations. The following are the main scorecard:
- Net revenue of USD792m (up 63% y-o-y)
- Operating profit at USD414m (up 71% y-o-y)
- Increased in VIP gaming volume
- Room revenue at USD75m (up 95% y=o-y)
- F&B revenue at USD49m
- Retails revenue at USD69m
Based on the overall market volume, it is likely that Genting RWS will again suffer lost in market share to MBS in the 3rd quarter. It is known in the industry that a few Hong Kong/Macau junket operators are quietly churning the VIP gaming volume (widely known as the Pseudo Junkets) for the two casinos in Singapore, under the nose of CRA (Casino Regulatory Authority).
Likely that MBS has robbed away some market share from Genting RWS
