Genting SG eyes other Asian markets as gov't tightens advertising rules

New guidelines from the government include prior approval for all casino advertising and promotions and a ban on advertising the winnings of casino patrons.

Genting Singapore believes there's little growth in the local mass market anyway. Instead, it is focusing its efforts on penetrating the South Asian and SE Asian markets.

Here's more from OCBC Investment Research:

The Singapore government has introduced tighter rules effective 4 May 2012 on the promotion and advertising of the casinos to bar the two integrated resorts from targeting local residents, including permanent residents.

Some of the new guidelines include the need for prior approval from MCYS for all casino advertising, promotions and even interviews and media releases that can be construed as advertising; IRs are also not allowed to advertise winnings of casino patrons.

While this may have some short-term impact on the two IRs, no lingering effects can be expected, given that the local gamers only make up a small portion of their patrons. For Genting Singapore, it has previously said several times that it believes the local mass market will show little growth; instead, it has spread its efforts to penetrate the South Asian and SE Asian markets.