• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Sunday 1 June 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
No Result
View All Result
IAG
No Result
View All Result

Editorial – Beware the Lion King

Ben Blaschke by Ben Blaschke
Mon 2 Dec 2024 at 19:42
Editorial – Beware the Lion King
26
SHARES
653
VIEWS
Print Friendly, PDF & Email

There has been a lot of talk in recent months about the emergence of new gaming markets in Thailand, the UAE and Japan, and how these might shift the balance of power in Asia. Thailand we’re told, or maybe even the UAE, have the potential to become the world’s third largest gaming jurisdiction behind Macau and Las Vegas, with revenues approaching or even surpassing US$10 billion per year. And maybe they will… but has everyone forgotten about Singapore?

While regional rivals continue to hold up Singapore as the gold standard gaming jurisdiction they aim to emulate, Singapore itself has been busy preparing for a massive expansion of its own offerings.

It was 2019 when the country’s two casino operators – Marina Bay Sands (MBS) and Resorts World Sentosa (RWS) – announced that each would embark on US$3.3 billion expansions of their respective integrated resorts, but after COVID interrupted those plans, they have both since revised upwards – and by some margin – their planned spends.

In November 2023, Genting Singapore revealed that it would now invest US$5 billion into the expansion of RWS, primarily along the waterfront of Sentosa Island, adding 700 new hotel rooms and a variety of unique attractions. Existing facilities like the Forum, Minion Land in Universal Studios Singapore, the Singapore Oceanarium and three of its hotels – Hard Rock Hotel Singapore, Hotel Michael and Festive Hotel – are already undergoing their own makeovers with a view to expanding capacity and enhancing visitor appeal.

At MBS, the revised investment is a staggering US$8 billion – more than double the original estimate – and will see the addition of a fourth hotel tower boasting 570 luxury suites plus a 15,000-seat arena, 110,000 square feet of MICE space, its own SkyPark and high-end F&B. New gaming space will include a main casino area in the podium plus “sky gaming” in the new tower.

MBS has already invested around US$3 billion into a complete revamp of the hotel room offering in its existing towers – to be fully fitted out by mid-2025 – taking its total investment in upgrades and expansion alone to US$11 billion.

Why so much? It all comes down to the regional race to lure the uber-lucrative premium mass player, and in Singapore’s case ensure it maintains its outsized share of this key player base at a time when regional competitors are substantially upping their own game.

It’s high stakes in every sense of the word, but the operators themselves have remained bullish on their long-term potential: Robert Goldstein, the Chairman and CEO of MBS parent Las Vegas Sands, recently claimed the property’s fourth tower would generate an additional US$1 billion in annualized EBITDA which, with margins of around 50%, suggests additional GGR of US$2 billion a year. RWS will be expecting a similarly profitable result.

With market-wide GGR already pushing towards US$6 billion in 2024, that means Singapore is another jurisdiction eying a US$10 billion annual run-rate by 2030 – around the same time that Thailand and Japan are looking to bring their IR industries online. Of course, Singapore already has a proven track record upon which it can rely.

The Lion City looks set to roar again.

Tags: Current IssueMarina Bay SandsResorts World SentosaSingapore
Share10Share2
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – The real reason Philippines casino revenues are down

Editorial – The real reason Philippines casino revenues are down

by Ben Blaschke
Sun 30 Mar 2025 at 23:04

After enjoying a post-COVID surge in gaming revenues at its licensed casinos, the Philippines has hit a rocky patch. In...

Inside Thai IRs

Inside Thai IRs

by Andrew W Scott and Ben Blaschke
Sun 30 Mar 2025 at 22:59

No time to read this whole article? Here are the bullet points! With passage of Thailand’s Entertainment Complex Bill through...

Resorts World Las Vegas – Lighting up the north

Resorts World Las Vegas – Lighting up the north

by Andrew W Scott and Ben Blaschke
Sun 30 Mar 2025 at 22:52

Inside Asian Gaming recently visited Genting’s American icon Resorts World Las Vegas to take a closer look at a property...

A baccarat perspective

A baccarat perspective

by Ryan Hong-Wai Ho
Sun 30 Mar 2025 at 22:37

In the first of a two-part series, Ryan Ho explores how gaming innovations and market changes have shaped the prominence...

Evolution Asia
Aristocrat
GLI
Mindslot
Solaire
Hann
Tecnet
Nustar
Jumbo

Related Posts

Editorial – The real reason Philippines casino revenues are down

Editorial – The real reason Philippines casino revenues are down

by Ben Blaschke
Sun 30 Mar 2025 at 23:04

After enjoying a post-COVID surge in gaming revenues at its licensed casinos, the Philippines has hit a rocky patch. In 2024, while the broader gaming industry enjoyed a significant boost thanks to the growth of the E-Games segment, gross gaming...

A baccarat perspective

A baccarat perspective

by Ryan Hong-Wai Ho
Sun 30 Mar 2025 at 22:37

In the first of a two-part series, Ryan Ho explores how gaming innovations and market changes have shaped the prominence of baccarat in Macau’s gaming industry. Macau casinos have long been synonymous with baccarat. The evolution of Macau’s gaming industry...

Editorial – The waiting game

Editorial – The waiting game

by Ben Blaschke
Wed 26 Feb 2025 at 14:56

Recent rumors suggesting that US private equity giant Blackstone could make a move to acquire Australia’s ailing Star Entertainment Group echo similar talk that has been doing the rounds across the industry over the past few months, particularly since Star...

Macau government said to have reached consensus with bidders for combined US$12.5 billion investment during new 10-year concession period

OPINION: Has Macau hit a GGR ceiling?

by David Bonnet
Tue 11 Feb 2025 at 13:31

Macau casinos’ shrinking gross gaming revenue (GGR) may be a wake-up call, suggesting performance has hit a ceiling, and requiring new catalysts to stimulate growth. Tourism’s comeback from the COVID scourge heralded a potential renaissance for Macau’s economic growth. Improved...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文

No Result
View All Result
  • 中文
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • 中文
  • English