Results improve as cost cutting, debt control kicks in

Singapore’s two gaming operators reported an improvement in Q2 results, helped by cost controls, lower bad debts and higher premium play, though analysts see few catalysts for significant expansion of the market. In 2007, Singapore granted Las Vegas Sands and Genting Singapore a license for one resort each, with exclusivity until 2017. Those licenses were renewed in 2016 for a further three years, but the government is not expected to allow any new entrants, therefore keeping a lid on the size of the island-state’s gaming market. Visitation to Singapore has been steady, but the figures have shown less propensity for tourists to spend on gaming activities. In the year to June, arrivals were up 4.5 percent overall, with China arrivals up 5.4 percent. A more detailed report of Q1 statistics released in July highlighted that most of the spending from the 4.3 million visitors was on shopping. Retail spending gained 38...

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