Singapore Casinos State of Affair 2013

Posted: September 26, 2013 in Uncategorized

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By:  Professional Ground panelists assessment

A State of Stagnation

For the past three years, only 7.7% of locals visited the IR casinos more than once.
Majority of the local population never visited any of the IR casino.

Frequency of casino visits has been dropping too, by local patrons from the height of 20,000 daily to only 17,000 as at end of 2012.

Casino entrance levy collection by the govt has dropped from s$216m in 2010 to s$174m in 2012.

Annual entrance fee for regular patrons dropped by 20% over the past three years.

Many genuine casino patrons (local) are blocked by stringent Exclusive Rule from visiting the IR casinos.

There’s no sign of loosening the casino junket control regulation which is one of the most stringent and restrictive rule of games for VIP business of casino. 

On hindsight,  Steve Wynn should be laughing away on his early withdrawal from the initial stage of casino license bidding for the most high costs Integrated Resorts …
He can now pay focus on Japan.

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Recommendation: 
Genting Singapore stock – SELL rating

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