Gaming spending boosts Singapore tourism receipts

    Spending on sightseeing, entertainment and gaming (SEG) helped pushed up Singapore’s tourism receipts for the first quarter of this year by 5 percent to S$6 billion, according to the Singapore Tourism Board.
    The SEG sector saw growth of 19 percent year-on-year growth to S$1.6 billion in revenue. Singapore has two integrated resorts, Las Vegas Sands’ Marina Bay Sands property and Genting Bhd’s Resorts World Sentosa.
    Visitor arrivals were steady at 3.9 million, it said. Visitor numbers are being held back by a 14 percent drop in arrivals from mainland China. Excluding the China decline, visitor arrivals gained 2.8 percent, lead by a 17 percent jump in arrivals from South Korea, a 13 percent gain from Vietnam and a 6 percent gain from Indonesia.
    In a separate report, local media cited a report from United Overseas Bank analyst Kay Hian as saying that gaming revenue in Singapore is likely to be sluggish this year, with growth edging ahead just 3 percent.
    The industry is being held back by a lack of hotel space, market saturation and the stronger Singapore dollar.
    The VIP sector is likely to drop 5 percent, it said due to macro economic concerns especially in China. In the mass sector, the report says Genting Singapore may be able to increase its market share once its 500-room Jurong hotel opens in mid 2015.