Singapore integrated resorts Marina Bay Sands and Resorts World Sentosa could see a welcome boost in the coming weeks after Malaysian Foreign Minister Datuk Seri Hishammuddin Hussein revealed a travel bubble between Malaysia and Singapore could be instituted as early as 17 August.
Hussein announced details of the proposal to local media this week, with the bubble to somewhat mirror arrangements between Macau and Guangdong Province, including mutual recognition of COVID-19 test results.
Under the plan, the two jurisdictions would work together via a Reciprocal Green Lane (RGL) and Periodic Commuting Arrangement (PCS), with applications for cross-border travel to be accepted from 10 August.
“I will contact Foreign Minister Dr Vivian [Balakrishnan] tomorrow or the day after because Prime Minister Tan Sri Muhyiddin Yassin has already discussed it with Singapore’s Prime Minister Lee Hsien Loong,” Hussein said.
“Hence, this must be based on reasons that the people of both countries will understand what we are doing, for them to do it responsibly so it will not affect their own safety and well-being.”
Hussein added that successful implementation of the bubble could pave the way for borders to open to more nearby countries.
Singapore’s casinos reopened on 1 July, however with only Singaporean citizens and permanent residents patronizing the IRs since due to border closures, Maybank analyst Samuel Yin Shao Yang estimates business levels are only currently at 12.5% to 25% of pre-closure levels.
In a research note examining Resorts World Sentosa, which he now expects to record a loss of SG$215 million in 2020 – revised down from a previously forecast profit of SG$50 million – Yin says the likely return of Malaysians in volume before other visitors will see Singapore’s mass market gaming recover faster than VIP due to it being “geared more towards locals and Malaysians from the nearby hinterland.”
Yin, however, also noted that Singapore’s casinos appear to have stricter social distancing measures in place than their counterparts in Malaysia and Macau following a recent announcement by the Singapore Tourism Board (STB) that venues must restrict attendance to no more than 25% of capacity.
“We gather the ‘capacity’ that the STB was referring to is not number of tables and electronic gaming machines but number of gamblers in the casino at any one time,” he said.
“If this is true, then the social distancing requirements imposed on Singaporean casinos (RWS and MBS) are over and above the ones imposed on their Macanese and Malaysian counterparts.”
