• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Friday 30 May 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
656
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 – Foreigner-only casinos: Seize the day

Editorial – Foreigner-only casinos: Seize the day

by Ben Blaschke
Thu 29 May 2025 at 13:38

I was recently asked by someone working at a foreigner-only casino for my thoughts on the outlook for the Asian...

On the brink

On the brink

by Pierce Chan
Thu 29 May 2025 at 13:27

The transition period for Macau’s 11 satellite casinos is set to expire at the end of this year, after which...

A moral defense of gambling

A moral defense of gambling

by Andrew Russell
Wed 28 May 2025 at 18:19

Economist Andrew Russell explores the differences between community benefit and in-principle arguments for the existence of a legal gambling industry...

Face to face

Face to face

by Ben Blaschke
Wed 28 May 2025 at 18:08

Konami caught the eye at the recent G2E Asia show in Macau with its SYNK Vision Tables, which utilize facial...

Evolution Asia
Aristocrat
GLI
Mindslot
Mindslot
Solaire
Hann
Tecnet
Nustar
Jumbo

Related Posts

Editorial – Foreigner-only casinos: Seize the day

Editorial – Foreigner-only casinos: Seize the day

by Ben Blaschke
Thu 29 May 2025 at 13:38

I was recently asked by someone working at a foreigner-only casino for my thoughts on the outlook for the Asian gaming industry. That’s quite a wide-reaching question with dozens of moving parts, but it got me thinking specifically about how...

A moral defense of gambling

A moral defense of gambling

by Andrew Russell
Wed 28 May 2025 at 18:19

Economist Andrew Russell explores the differences between community benefit and in-principle arguments for the existence of a legal gambling industry and why the latter is vital in winning over sentiment. When I was corresponding with this publication’s Managing Editor Ben...

Editorial – Knife’s edge

Editorial – Knife’s edge

by Andrew W Scott and Ben Blaschke
Tue 29 Apr 2025 at 15:14

Thailand’s Entertainment Complex journey is at a critical point, with the success or failure of the initiative to be determined by decisions made over the coming months. The common narrative now appears to be that legislation governing development of the...

A Baccarat perspective – Part 2

A Baccarat perspective – Part 2

by Ryan Hong-Wai Ho
Tue 29 Apr 2025 at 13:03

The first part of this series, published in the April issue of IAG, discussed the rise of baccarat in Macau’s gaming industry. Building on that discussion, Ryan Ho continues to examine the latest betting options shaping this iconic casino game....



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

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
  • 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