, Singapore

Glitzy casinos at risk as feeble ASEAN currencies continue to weaken

The SGD’s strength is not a boon.

Singapore’s glitzy casinos are under threat from the constant depreciation of key regional currencies against the Singapore dollar.

Data from Macquarie showed that the SGD has gained as much as 44% against the IDR since the 2 casinos opened in 2Q10 while it has gained 15% against the MYR.

“These 2 countries are significant contributors to Singapore’s ‘mass market volumes’ in our view, and the weakening of those two currencies further negatively impacts the tourist arrivals and hence the revenue potential from mass market in our view,” stated the report.  

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Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.
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Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley