ASEAN casinos to threaten Singapore

According to JP Morgan Chase and Co, new, high-quality ASEAN casinos in the Philippines and Cambodia are set to threaten Singapore’s venues.

Singapore.- According to banking group JP Morgan Chase and Co, new ASEAN casinos will threaten Singapore’s casino duopoly. The firm detailed that new, high-quality venues may impact its commercial performance even more than to Macau’s venues.

“Chinese nationals drive the largest share of gaming demand in Asia, especially VIP demand. Thus proximity to China and leveraging marketers becomes important,” five JP Morgan analysts assessed. 

“Over the past five years, we have seen only a 1.6% points shift in overall Chinese gaming spends, away from Macau and in favour of other markets,” they added. “Macau still drives almost 92% of total gaming spends by Chinese nationals.”

About the Association of Southeast Asian Nations (ASEAN), they assured: “The gains in ASEAN have been in favour of the Philippines (1.1pps) and Cambodia (1.5pps). Singapore has lost 1.7pps of the share of Chinese gaming expenditure.”

“Manila (and the Philippines) is almost equally attractive economically for many Chinese travellers versus Hong Kong/Macau,” they added.