Las Vegas Sands launches SG$8 billion loan quest for Marina Bay Sands expansion
Las Vegas Sands (LVS) has begun its search for financing of up to SG$8 billion (US$5.9 billion) for expansion of its Singapore integrated resort, Marina Bay Sands (MBS). Reuters is reporting that MBS has mandated four banks on the financing, which...
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Marina Bay Sands drops five-year, SG$13 million lawsuit against Australian gambler
Marina Bay Sands (MBS) has dropped a lawsuit worth more than SG$13 million against Australian high roller Wang Zhi Cai, ending a case that stretches back to 2013. According to The Straits Times, MBS lawyers filed a notice of discontinuance...
Genting Singapore appoints Nanami Kasasaki as Chief Corporate Officer
Genting Singapore has named Ms Nanami Kasasaki as its new Chief Corporate Officer, effective from 1 June 2019. The role will see Kasasaki, who joined the Genting Group in 2008, oversee the group’s corporate functions including corporate finance, corporate planning,...
Falling VIP volume marks tough quarter for Genting Singapore
Lower VIP volumes on the back of China’s slowing economy saw Genting Singapore’s revenue, Adjusted EBITDA and net profit all suffer declines in 1Q19, despite a quarter aided by good luck. Revenue at Resorts World Sentosa (RWS) for the three...
Singapore entry levies said to have raised US$950 million since 2010
Singapore’s casinos have raised around SG$1.3 billion (US$953 million) from the mandatory entry levy imposed on local residents since it was first introduced in 2010. The figure was revealed by Second Minister for Home Affairs Josephine Teo in parliament on...
Marina Bay Sands expansion to target premium mass segment: Goldstein
Las Vegas Sands (LVS) President and Chief Operating Officer Rob Goldstein has pointed to the lucrative premium mass segment as the primary target of the company’s US$3.3 billion expansion of Singapore integrated resort Marina Bay Sands (MBS). Explaining the long-term...
Genting Singapore to reduce debt by US$500 million
Genting Singapore Ltd has announced that its wholly-owned subsidiary Resorts World at Sentosa Pte. Ltd – the operating entity of Singapore IR Resorts World Sentosa (RWS) – will make a voluntary prepayment of SG$680 million (US$503 million) in outstanding debt....
More Singapore locals sought help for problem gambling in 2018
Singaporean authorities have reported an increase in the number of people undergoing professional counselling for gambling addiction, with 967 people seeking help in 2018 – the highest number since 2014 when 1,035 sought help. The figures, released by Singapore’s National...
