Sinkieland's casinos losing business to new competition in region

[Rogue Trader]

A losing bet: New Asian casinos eating away Singapore’s share of the gaming pie

HOTELS & TOURISM | Staff Reporter, Singapore Published: 19 Sep 14 432 views -

Blame it on the vanishing VIPs.

Casinos are mushrooming across the region, and Singapore casinos are struggling under the steady onslaught of regional competitors.

According to a report by Macquarie Research, the success of local casinos in 2011 spurred many countries in Asia to legalize gambling and allow opening of casinos on a similar model.

The Philippines, for instance, has already seen 4 new private casinos since then. However, other countries like Vietnam, Korea, Sri Lanka, Cambodia and Japan are gearing up to push new casino legislations and open new casinos by 2020.

“Asia is underpenetrated; as new casinos open SG gaming pie could get hurt. In Asia, there is a growing population of high net worth individuals (HNWIs) regionally amid the shortage in the supply of integrated resort style gaming facilities. As indicated in the figure below, HNWI wealth is up 33% from 2007-12 in Asia ex-Japan. We think there is a high probability of SG casinos’ VIP clientele cannibalization by new casinos in Asia,” noted Macquarie.

 

[lifeafter41]

A losing bet: New Asian casinos eating away Singapore’s share of the gaming pie

HOTELS & TOURISM | Staff Reporter, Singapore Published: 19 Sep 14 432 views -

Blame it on the vanishing VIPs.

Casinos are mushrooming across the region, and Singapore casinos are struggling under the steady onslaught of regional competitors.

According to a report by Macquarie Research, the success of local casinos in 2011 spurred many countries in Asia to legalize gambling and allow opening of casinos on a similar model.

The Philippines, for instance, has already seen 4 new private casinos since then. However, other countries like Vietnam, Korea, Sri Lanka, Cambodia and Japan are gearing up to push new casino legislations and open new casinos by 2020.

“Asia is underpenetrated; as new casinos open SG gaming pie could get hurt. In Asia, there is a growing population of high net worth individuals (HNWIs) regionally amid the shortage in the supply of integrated resort style gaming facilities. As indicated in the figure below, HNWI wealth is up 33% from 2007-12 in Asia ex-Japan. We think there is a high probability of SG casinos’ VIP clientele cannibalization by new casinos in Asia,” noted Macquarie.

Just a matter of time before all levy requirement lifted.
Free for all!!!

Huat Ah!!!

 

[syed putra]

Casinos should be like in london. Plenty but small and cosy.

 

[jw5]

Plenty of small and cosy casinoes is "bad" for the economy because it means no economies of scale for our economically-driven government.

Casinos should be like in london. Plenty but small and cosy.

 

[Rogue Trader]

Just a matter of time before all levy requirement lifted.
Free for all!!!

Huat Ah!!!

Yup... matter of time those free shuttle buses will pick up heartland uncles and aunties again....

 

[rushifa666]

The confused sinners cannot decided if they want it or not. Of course people will not come. They happened to be the new kids then. High rollers with their money can afford to go anywhere. Will disappear once novelty wears off.

 

[frenchbriefs]

the fucking casinos stinks of a third world country,fucking low class tiongs and pinoys everywhere who would want to go there?

 

[Narong Wongwan]

Yup... matter of time those free shuttle buses will pick up heartland uncles and aunties again....

Casinos might start to offer rebates to attract patrons like what gambling cruise ships do.
Next open up the junket industry.
Next next lower min admission age, liberalize cpf withdrawals for casino gambling.

 

[laksaboy]

Hurry Sinkies, go and take up courses in casino management and croupier training. PAP knows best.

 

[laksaboy]

This was from Lim Hng Kiang back in April 2005.


https://www.mti.gov.sg/MTIInsights/MTIImages/Minister Lim Hng Kiang-Parliament-18Apr2005.pdf

A sentiment voiced directly or indirectly by a large number of Singaporeans goes beyond the
social ills of gambling. They are concerned that a casino would change the tone of society
that we have so carefully nurtured over the years.

I am sure we will debate this point thoroughly over the next few days. I can only say that if
the Integrated Resort would put the future of Singapore as a safe, wholesome society at
grave risk, then we would not have supported it. The Swiss Minister for Economic Affairs
was in Singapore 2 weeks ago. Switzerland allowed casinos 5 years ago. The Swiss Minister
told me they decided to allow casinos because casinos were already freely available across
their frontiers. They decided they cannot stay put. I think we are in a similar position. We
cannot stand still either. Has the reputation of Switzerland as a trusted financial centre, a
land of hardworking people, or a wholesome society suffered as a result of having casinos?
The answer is no. So, I am confident that with adequate safeguards, we too can preserve
our societal values with the integrated resorts.

Mr Speaker, Sir, The Integrated Resort is neither the panacea to all our economic challenges
nor will it destroy our social and moral fabric, or the strong foundations on which Singapore
is built. We have to adopt a holistic and realistic perspective, look at all relevant facts, make
sure the economic benefits are real and not fluff, and put in place the necessary measures
to contain the downside social impact. This pragmatic approach has served Singapore well
in the past, and we should approach the Integrated Resort in the same manner.
The Integrated Resort is one of the many strategies that Singapore is pursuing to boost its
tourism appeal and generate economic growth. Whilst it is not the only strategy in our
tourism masterplan, the two resorts will serve as the engine of our leisure sector and bring
in significant and wide-scale benefits for Singapore. We should move boldly and swiftly, and
seize this opportunity to entrench our hub status, before it is too late.

 

[shittypore]

Just a matter of time before all levy requirement lifted.
Free for all!!!

Huat Ah!!!

For the luv of money they willing to sell their Soul.

 

[laksaboy]

Just a matter of time before all levy requirement lifted.
Free for all!!!

Huat Ah!!!

I am disciplined enough to go inside the casino to see see look look, eye the prettier female croupiers, enjoy the free refreshments and having a laugh watching the various emotions on display at the gambling tables.

 

[lifeafter41]

I am disciplined enough to go inside the casino to see see look look, eye the prettier female croupiers, enjoy the free refreshments and having a laugh watching the various emotions on display at the gambling tables.

Ah, yes, I too, find it very amusing when some of the patron, performing antics, such as chanting, perform certain hand gestures on the screen for those playing slots, etc.

However, the thrill of striking the jackpot (far and few in between) or the big win, still pull them towards the game, even though they may know that gambling is bad and they may be losing tons of money.

There is always, the big one is waiting for me.......

 

[kaipoh]

Batam casino is going to reopen soon! air plane land in Batam leow.

A losing bet: New Asian casinos eating away Singapore’s share of the gaming pie

HOTELS & TOURISM | Staff Reporter, Singapore Published: 19 Sep 14 432 views -

Blame it on the vanishing VIPs.

Casinos are mushrooming across the region, and Singapore casinos are struggling under the steady onslaught of regional competitors.

According to a report by Macquarie Research, the success of local casinos in 2011 spurred many countries in Asia to legalize gambling and allow opening of casinos on a similar model.

The Philippines, for instance, has already seen 4 new private casinos since then. However, other countries like Vietnam, Korea, Sri Lanka, Cambodia and Japan are gearing up to push new casino legislations and open new casinos by 2020.

“Asia is underpenetrated; as new casinos open SG gaming pie could get hurt. In Asia, there is a growing population of high net worth individuals (HNWIs) regionally amid the shortage in the supply of integrated resort style gaming facilities. As indicated in the figure below, HNWI wealth is up 33% from 2007-12 in Asia ex-Japan. We think there is a high probability of SG casinos’ VIP clientele cannibalization by new casinos in Asia,” noted Macquarie.

 

[kaipoh]

Me too badly beaten before, no choice lanlan go there look see look see for cheap PRC khunts, cheap food, free drinks. free air-con.

I am disciplined enough to go inside the casino to see see look look, eye the prettier female croupiers, enjoy the free refreshments and having a laugh watching the various emotions on display at the gambling tables.

 

[rushifa666]

I'm more interested to see the suicides. Then I'm assured that evolution is working

 

[Leepotism]

A losing bet: New Asian casinos eating away Singapore’s share of the gaming pie

HOTELS & TOURISM | Staff Reporter, Singapore Published: 19 Sep 14 432 views -

Blame it on the vanishing VIPs.

Casinos are mushrooming across the region, and Singapore casinos are struggling under the steady onslaught of regional competitors.

According to a report by Macquarie Research, the success of local casinos in 2011 spurred many countries in Asia to legalize gambling and allow opening of casinos on a similar model.

The Philippines, for instance, has already seen 4 new private casinos since then. However, other countries like Vietnam, Korea, Sri Lanka, Cambodia and Japan are gearing up to push new casino legislations and open new casinos by 2020.

“Asia is underpenetrated; as new casinos open SG gaming pie could get hurt. In Asia, there is a growing population of high net worth individuals (HNWIs) regionally amid the shortage in the supply of integrated resort style gaming facilities. As indicated in the figure below, HNWI wealth is up 33% from 2007-12 in Asia ex-Japan. We think there is a high probability of SG casinos’ VIP clientele cannibalization by new casinos in Asia,” noted Macquarie.

That's a piece of good news!

 

[mojito]

But do they have also F1 and a wide variety of callgirls from every part of the world? Our position is unshakeable. The pie is expanding and there is no need for us to cater to the lowest common denominator.

 

[enterprise2]

Hooray!!Hope our casinos goes bust soon. Maybe we can reclaim Sentosa and make it the way it used to be...a quiet rustic island without killing your wallet!!

 

[Rogue Trader]

Hooray!!Hope our casinos goes bust soon. Maybe we can reclaim Sentosa and make it the way it used to be...a quiet rustic island without killing your wallet!!

Sorry .. the only recorded case of casinos closing shop in a country is in North Africa (can't recall which exact country).. when the islamic hardliners took over the parliament.

The casino is cancer. Once you have a casino (or 2) in the country, it starts to rot your community. The only cure is to introduce a stronger cancer strain to the system like religious fanaticism.