• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Sunday 7 September 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
  • 日本語
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
  • 日本語
No Result
View All Result
IAG
No Result
View All Result

More pain to come from Singapore entry levy increase: Maybank

Newsdesk by Newsdesk
Thu 24 Oct 2019 at 13:14
Analysts agree Las Vegas Sands best suited to overcome saturation of Asia’s premium gaming market

Marina Bay Sands, Singapore

38
SHARES
842
VIEWS
Print Friendly, PDF & Email

The operators of Singapore’s two integrated resorts, Marina Bay Sands and Resorts World Sentosa, are already feeling the pinch from a recent increase in the city’s casino entry levy, but there is more pain to come according to Maybank Investment Bank.

In a research note published shortly after Las Vegas Sands released its 3Q19 earnings results on Thursday, Maybank analyst Samuel Yin Shao Yang pointed to April’s 50% hike in casino entry levies as having impacted mass gaming revenues at Marina Bay Sands in the recent quarter, with mass GGR down 4.5% year-on-year to US$255.6 million.

More importantly, though, he said the impact of the increase in cost of an annual pass from SG$2,000 to SG$3,000 is yet to be fully realized.

“We gather that the 50% hike in casino entry levy for Singaporean citizens and permanent residents (SCPR) … continues to weigh on mass market GGR,” Yin said.

“As more SCPRs’ SG$2,000 annual passes expire, those SCPRs will have to pay a much higher SG$3,000 if they wish to renew their annual passes. With such a steep hike, we gather that some SCPRs will not renew their annual passes when they expire, exerting downside pressure on mass market GGR.”

Marina Bay Sands booked a 4.2% increase in GGR in 3Q19 to US$698.3 million, aided by improved VIP volume and win rate.

RelatedPosts

MGM Cotai

Bill Hornbuckle: Macau promotional environment now locked in place despite rapid return of VIPs

Fri 5 Sep 2025 at 06:45
A New Macau

Macau GGR now seen hitting US$31.8 billion as Jefferies again upgrades 2025 revenue forecast

Fri 5 Sep 2025 at 05:40
Ciarán Carruthers: Crowning glory

Crown Resorts rolls out AI to improve player protection abilities

Fri 5 Sep 2025 at 05:37
Travellers Group set to take majority equity position in development of Manila’s LETX hotel and casino to pave completion roadmap, planned to become operator upon launch 

Suntrust begins process of transferring control of Manila’s LETX project to Travellers by acquiring shares in new entity

Thu 4 Sep 2025 at 12:02
Load More
Tags: casinoLas Vegas SandsMarina Bay SandsMass marketMaybankSingaporeVIP
Share18Share2
Newsdesk

Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

Current Issue

Editorial – Flipping the script

Editorial – Flipping the script

by Ben Blaschke
Thu 28 Aug 2025 at 12:30

This month represents an important milestone for Inside Asian Gaming as we launch IAG EXPO – an expansion of the...

Asia market roundup

Asia market roundup

by Ben Blaschke
Thu 28 Aug 2025 at 12:26

Inside Asian Gaming takes a deep dive into the state of Asia-Pacific’s key gaming markets: who’s hot, who’s not and...

Rewriting the rules

Rewriting the rules

by Newsdesk
Thu 28 Aug 2025 at 11:43

IAG EXPO, taking place at Newport World Resorts from 8 to 10 September, is not your usual trade show. IAG...

Test of character

Test of character

by Newsdesk
Thu 28 Aug 2025 at 11:28

Since its establishment in 1989, Gaming Laboratories International (GLI) has developed into the world’s most trusted name when it comes...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
NWR
NWR

Related Posts

MGM Resorts CFO Corey Sanders to retire after 30 years with company

MGM Resorts CFO Corey Sanders to retire after 30 years with company

by Newsdesk
Sun 7 Sep 2025 at 11:35

MGM Resorts International has announced the retirement of its long-serving Chief Financial Officer Corey Sanders after 30 years with the company. Sanders, who first joined MGM as tax director of MGM Grand in Las Vegas in 1994, will remain as...

Bhumjaithai Party and anti-casino voice Anutin Charnvirakul voted in as Thailand’s new Prime Minister

Bhumjaithai Party and anti-casino voice Anutin Charnvirakul voted in as Thailand’s new Prime Minister

by Ben Blaschke
Sun 7 Sep 2025 at 10:30

Thailand has officially unveiled its 32nd Prime Minister after the House of Representatives on Friday voted to elect Bhumjaithai Party leader and vocal casino opponent Anutin Charnvirakul to the role. Anutin’s ascension comes after the Pheu Thai Party’s Paetongtarn Shinawatra...

Vietnam’s new Van Don integrated resort project scheduled for 2032 opening

Vietnam’s new Van Don integrated resort project scheduled for 2032 opening

by Ben Blaschke
Sat 6 Sep 2025 at 09:34

A new US$2 billion integrated resort to be built by Vietnamese development giant Sun Group in Van Don, Quang Ninh Province is planned to open in 2032, the company has informed Vietnam’s central government. The update, reported by local media...

IAG announces 19 sponsors of IAG EXPO’s Manila After Dark Official Welcome Event at Newport World Resorts on Monday 8 September

IAG announces 19 sponsors of IAG EXPO’s Manila After Dark Official Welcome Event at Newport World Resorts on Monday 8 September

by Newsdesk
Fri 5 Sep 2025 at 10:26

Inside Asian Gaming is delighted to announce a total of 19 sponsors for Manila After Dark (MAD) next Monday 8 September – the official welcome event for IAG EXPO, taking place at Manila’s Newport World Resorts. Running from 8 to 10 September,...

Your browser does not support the video tag.


IAG

© 2005-2025
Inside Asian Gaming.
All rights reserved.

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

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

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

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • 中文
  • English
  • 日本語