Wow! Singapore casino market now worth $5.8b a year

But Resorts World Singapore is losing out rapidly to Marina Bay Sands.

DMG noted that in terms of gaming volume, VIP rolling chips volume was subdued and stayed relatively flat vs Marina Bay Sands’ (MBS) staggering 36.8% q-o-q jump. We believe that RWS’ more cautious VIP credit policy amid the global uncertainties and its lower number of available rooms at 1,300 vs MBS’ 2,600 may have led to MBS gaining market share, which stood at 45%:55% in favor of MBS.

“On an adjusted theoretical hold rate comparison, RWS’ daily net gaming revenue of SGD6.7m vs MBS’s SGD9.2m implies an annualized gaming market worth SGD5.8bn in Singapore,” DMG added.

DMG also said that the group expects to maximize the number of slots and ETGs to 2,500 although the number of gaming tables will remain largely unchanged at 570. The number of slots and ETGs totaled 1,859 as at end-3Q11 compared to MBS, which had largely maximized its 2,500 slots and ETG cap by end-3Q11.