Las Vegas Sands reaches new SG$4 billion loan agreements for Marina Bay Sands expansion
Las Vegas Sands has entered into new loan agreements that will provide an additional SG$4 billion (US$2.89 billion) in funds for the expansion of its Singapore integrated resort, Marina Bay Sands. The amended loan agreements comprise three facilities, including an...
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Singapore Betting Taxes fall 0.9% to SG$2.7 billion in FY2018/19
The Singapore government saw the amount of tax collected from betting services – comprising Betting Duty, Casino Tax and Private Lotteries Duty – fall 0.9% to SG$2.7 billion in FY2018/19. The figures were released by the Inland Revenue Authority of...
Report says MICE accounted for 22% of tourists to Singapore in 2018
Singapore’s meetings, incentives, conferences and exhibitions (MICE) industry was responsible for 22% of the city’s tourist receipts, worth SG$2.2 billion, in 2018, according to a report by Colliers International. Marina Bay Sands played a significant role, hosting around 1.4 million...
Donaco’s US$190 million Singapore court case against Thai vendors delayed
A Singapore court case brought by Donaco International Limited against the Thai vendors of its Cambodian casino, Star Vegas, in pursuit of US$190 million in damages has been delayed by four months, the company revealed on Wednesday. The arbitration claim...
Genting Malaysia to form part of new merged entity taking full ownership of New York’s Empire Resorts
Genting Malaysia has entered into a binding term sheet with Kien Huat Realty III Ltd, the family trust of its Chairman Lim Kok Thay, for the company’s wholly-owned subsidiary Genting (USA) Ltd to acquire 13.2 million shares in Empire Resorts,...
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Singapore’s international visitation up, spending down in 1Q19
Singapore welcomed more international visitors in the first quarter of 2019 than over the same period 12 months earlier, however their spending fell 4.7% including a 3% decline in the Sightseeing, Entertainment and Gaming segment. The 1Q19 figures formed part...
High VIP win rate keeps Genting Singapore’s 2Q19 results respectable despite 5% profit fall
Genting Singapore has pointed to a series of challenging headwinds for a 5% year-on-year decline in net profit to SG$168.4 million in the three months to 30 June 2019, warning the decline would have been significantly greater if not for...
Mass market segment helps Sands China to 1.4% revenue growth in 2Q19
Sands China Ltd lost ground in VIP but a solid performance in mass was enough to see total net revenues increase 1.4% to US$2.14 billion and Adjusted Property EBITDA by 2.0% to US$765 million in 2Q19. The Parisian Macao led...
