{"id":29775,"date":"2022-05-11T09:23:43","date_gmt":"2022-05-11T12:23:43","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=29775"},"modified":"2026-04-23T08:48:38","modified_gmt":"2026-04-23T11:48:38","slug":"genting-singapore-ggr-unlikely-to-recover-soon-analysts-say","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/genting-singapore-ggr-unlikely-to-recover-soon-analysts-say","title":{"rendered":"Genting Singapore GGR unlikely to recover soon, analysts say"},"content":{"rendered":"\n

Analysts say Genting Singapore’s GGR won’t return to pre-pandemic levels for some time due to increased competition and the lack of Chinese players.<\/p>\n\n\n\n\n\n\n\n

Singapore.-\u00a0Yin Shao Yang<\/strong>, an analyst at Maybank, has said that it’s unlikely that Genting Singapore’s gross gaming revenue will return to pre-pandemic levels anytime soon due to the fact that competition in the Asian market has grown. Although\u00a0Singapore has reopened its borders<\/a>, Yin Shao Yang believes that in 2024, the casino operator will see a two per cent drop in profits.<\/p>\n\n\n\n

According to Maybank, Resorts World Sentosa<\/strong>‘s VIP volume will return to 83 per cent of 2019 levels by mid-2022, while mass market will recover to 92 per cent of its prior levels next year, from 2024.<\/p>\n\n\n\n

The gaming industry has grown in the Philippines and Cambodia, and there’s also the chance that Thailand may legalise gambling<\/a>, which would cause players to migrate to that market.<\/p>\n\n\n\n

According to Asian Gaming Brief, Yang said: “Even without IRs, 11 million Chinese visited Thailand in 2019. Should Thai IRs materialise, we would wonder how financially viable the S$4.5bn RWS 2.0 expansion will be.”<\/p>\n\n\n\n

Yang also noted that there may be an impact due to Chinese authorities making cross-border gambling a criminal offence<\/a> in March 2021.<\/p>\n\n\n\n

Resorts World Sentosa<\/strong>\u00a0has confirmed it will carry out a\u00a0phased refurbishment<\/a>\u00a0from this quarter to 2023. The plan will cover 1,200 units across its three hotels: Hard Rock Hotel Singapore, Hotel Michael and the Festive Hotel.<\/p>\n\n\n\n

Genting Singapore\u2019s market competitor<\/a>\u00a0Las Vegas Sands, has announced that the Singapore Tourism Board has allowed it to extend the deadline for its SGD4.5bn (US$3.31bn) expansion project at\u00a0Marina Bay Sands<\/strong>\u00a0casino resort to April 8, 2023.<\/p>\n","protected":false},"excerpt":{"rendered":"

Analysts say Genting Singapore’s GGR won’t return to pre-pandemic levels for some time due to increased competition and the lack of Chinese players.<\/p>\n","protected":false},"author":176,"featured_media":21474,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Analysts project Genting Singapore's Gross Gaming Revenue (GGR) will not return to pre-pandemic levels soon, citing increased regional competition from markets like the Philippines and Cambodia, and the sustained absence of Chinese high-rollers due to regulatory crackdowns. Maybank forecasts a 2% profit drop for Genting Singapore in 2024, questioning the financial viability of its S$4.5bn RWS 2.0 expansion amidst these market pressures and potential Thai gaming legalization.","focusai_entities":"Genting Singapore, Yin Shao Yang, Maybank, Resorts World Sentosa, Asian Gaming Brief, Hard Rock Hotel Singapore, Hotel Michael, Festive Hotel, Las Vegas Sands, Singapore Tourism Board, Marina Bay Sands","focusai_location":"Singapore, Philippines, Cambodia, Thailand, China","focusai_target_profile":"ceo_executive (0.95), regulator (0.75), compliance_legal (0.7), operator_casino (0.98), marketing_crm (0.7), investor_analyst (0.98), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"RWS 2.0 Viability?","query":"Given the projected GGR recovery challenges and increased regional competition, what specific financial metrics and market conditions would Genting Singapore need to achieve to justify the S$4.5bn RWS 2.0 expansion?"},{"label":"Chinese Player Strategy?","query":"How are integrated resort operators in Singapore adapting their player acquisition and retention strategies to mitigate the long-term impact of reduced Chinese high-roller traffic and the criminalization of cross-border gambling by Chinese authorities?"}],"footnotes":""},"categories":[157,16333],"tags":[23687],"class_list":["post-29775","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-south-east-asia-news","tag-genting-singapore"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/29775","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=29775"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/29775\/revisions"}],"predecessor-version":[{"id":29783,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/29775\/revisions\/29783"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/21474"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=29775"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=29775"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=29775"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}