{"id":18802,"date":"2021-06-09T14:28:29","date_gmt":"2021-06-09T14:28:29","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=18802"},"modified":"2026-04-23T18:45:33","modified_gmt":"2026-04-23T21:45:33","slug":"singapore-ggr-to-reach-48-per-cent-of-pre-pandemic-levels-analysts-say","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/singapore-ggr-to-reach-48-per-cent-of-pre-pandemic-levels-analysts-say","title":{"rendered":"Singapore GGR to reach 48 per cent of pre-pandemic levels, analysts say"},"content":{"rendered":"\n<p>Sanford C. Bernstein has predicted Singapore GGR will grow 12 per cent year-on-year, mainly through domestic demand.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Singapore.-<strong>\u00a0Singapore GGR will grow<\/strong>\u00a0this year despite the ongoing impact of the Covid-19 pandemic. According to Sanford C. Bernstein,\u00a0<strong>the casino market will grow 12 per cent year-on-year <\/strong>to nearly 48 per cent of pre-pandemic levels.<\/p>\n\n\n\n<p>Analysts predict <strong>Singapore&#8217;s GGR will reach nearly SGD3bn (US$2.27bn)<\/strong>, of which SGD1.42bn will come from slot machines. <strong>Mass-market table GGR is predicted to reach SGD1.06bn<\/strong>\u00a0and VIP table games SGD514m.\u00a0<\/p>\n\n\n\n<p>As long as\u00a0<strong>the arrival of tourists continues to be affected by the Covid-19 pandemic<\/strong>, it will be the local demand for gaming that drives the growth.<\/p>\n\n\n\n<p>However, Robert Goldstein, chairman and chief executive of Las Vegas Sands Corp, controller of the\u00a0<a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/marina-bay-sands-carries-out-mass-covid-19-testing-for-employees\">Marina Bay Sands<\/a>\u00a0casino resort, said domestic demand will decrease once people can travel again.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Foreign tourism in Singapore has to wait<\/strong><\/h2>\n\n\n\n<p><strong>It is still unknown when the country will end current restrictions<\/strong>\u00a0on inbound tourism. Singapore will remain under its\u00a0<strong>Phase-2 of restrictions until at least June 13<\/strong>. The Ministry of Health has reported<strong>\u00a014 new cases in the last 24 hours<\/strong>.<\/p>\n\n\n\n<p>In April,\u00a0<strong>the Ministry of Transport\u00a0<\/strong>announced an air travel bubble with Hong Kong to begin on May 26. However,<strong>  new cases of Covid-19<\/strong> ledto the plans to be put back.<\/p>\n\n\n\n<p>Casinos are working with a limited capacity. <strong>Marina Bay Sands&#8217; live-dealer tables are serving a maximum of two players at once<\/strong>.<\/p>\n\n\n\n<p>Analysts predict<strong> Singapore will reopen its frontiers during 2022 <\/strong>and will recover to nearly 73 per cent of pre-pandemic levels.<\/p>\n\n\n\n<p>Sanford Bernstein expects <strong>mass GGR and non-gaming<\/strong> to <strong>return to normal levels in 2023<\/strong>.<\/p>\n\n\n\n<p><a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/genting-singapores-recovery-slower-than-expected-analysts-say\">Brokerage Nomura<\/a>\u00a0has reduced its previous EBITDA forecasts for Genting Singapore\u00a0<strong>by 15 per cent<\/strong>\u00a0for 2021 and 2022 due to lower than expected revenue in Q1.<\/p>\n\n\n\n<p>It now expects Genting Singapore to record an<strong>&nbsp;average quarterly EBITDA of SGD133m for 2021<\/strong>, down 37 per cent from the previous quarter.<\/p>\n\n\n\n<p><a target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/genting-singapore-revenue-down-32-in-q1\" rel=\"noreferrer noopener\">Genting Singapore<\/a>&nbsp;reported a&nbsp;<strong>decrease in revenue of 32 per cent year-over-year<\/strong>&nbsp;and 12 per cent compared to the previous quarter during Q1.<\/p>\n\n\n\n<p><strong>Adjusted EBITDA<\/strong>&nbsp;came in at SGD118.1m,&nbsp;<strong>down 19 per cent from the SGD145m&nbsp;<\/strong>in the first quarter of 2020.&nbsp;<\/p>\n\n\n\n<p><strong>Casino sales were up 2 per cent when compared to the previous quarter<\/strong>, from SGD213.5m to SGD216.9m but down&nbsp;<strong>19 per cent from 2020 levels<\/strong>.<\/p>\n\n\n\n<p>Despite the slight increase in casino sales thanks to domestic business after properties reopened,&nbsp;<strong>the casino operator is highly dependant on international tourism<\/strong>.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sanford C. Bernstein has predicted Singapore GGR will grow 12 per cent year-on-year, mainly through domestic demand.<\/p>\n","protected":false},"author":176,"featured_media":18825,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Sanford C. Bernstein forecasts Singapore's GGR to grow 12% year-on-year, primarily driven by domestic demand, reaching nearly 48% of pre-pandemic levels. While domestic play currently sustains the market, long-term recovery to 73% of pre-pandemic GGR by 2022 and full normalization by 2023 is contingent on the return of international tourism, impacting operators like Genting Singapore, whose EBITDA forecasts have been reduced by Nomura.","focusai_entities":"Sanford C. Bernstein, Las Vegas Sands Corp, Marina Bay Sands, Nomura, Genting Singapore, Robert Goldstein, Ministry of Health, Ministry of Transport","focusai_location":"Singapore, Hong Kong","focusai_target_profile":"ceo_executive (0.95), regulator (0.75), operator_casino (0.95), investor_analyst (0.98), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"GGR Recovery Drivers","query":"What specific policy changes or market shifts are anticipated to transition Singapore's GGR growth from domestic demand to a more balanced international tourism contribution, and what is the projected timeline for this rebalancing?"},{"label":"Operator Financial Impact","query":"Given Nomura's revised EBITDA forecasts for Genting Singapore, what are the implications for its capital expenditure plans and dividend policy, particularly in light of the prolonged reliance on domestic patronage?"}],"footnotes":""},"categories":[163,158,16333],"tags":[23907],"class_list":["post-18802","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","category-slider-home","category-south-east-asia-news","tag-land-based-casino"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/18802","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=18802"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/18802\/revisions"}],"predecessor-version":[{"id":18827,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/18802\/revisions\/18827"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/18825"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=18802"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=18802"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=18802"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}