Ggr Singapore Is Shrinking
Gambling activity in singapore slowed down somewhat. Brokerage company sanford c. Bernstein pointed out in the financial statement that gross income from the gaming industry (ggr) for the entire 2018 year in singapore will decrease by 2.4% compared with last year and will be $ 4.53 billion.
Vitaly umansky analysts, unisa lee and kelsy zhu predict that the cumulative income of the vip segment of las vegas sands, marina bay sands and genting singapore resorts world sentosa will be only $ 1.68 billion in the current year. This indicator is almost $ 2 million lower than last year ($ 1.811 billion).
Analysts added that ggr on the mass market will be $ 1.687 billion, which is 3.8% less than in 2017. The only increase in profits is predicted in the segment of slot machines – 8.9% to $ 1.142 billion.
Experts added that singapore is a steadily growing market with a significant generation of cash flows. The statements say that the best year for singapore’s gambling business in terms of ggr was 2014. Since then, there has been observed a constant reduction in gross income, which in 2014 amounted to $ 5.55 billion.
Analysts also statedt that, according to their estimates, more than 50% of the vip segment make up players from china. Thus, in 2015, the growth of the anti-corruption campaign, influenced the vip-segment of singapore.
Singapore igor business information was included in a larger las vegas sands (lvs) report. The company controls sands china ltd., casino operator in macau, and working on obtaining a license in japan. Bernstein argue that lvs is more asian markets, as 58% of the company’s profits come from sands china and 32% – from marina bay sands.
Analysts predict that las vegas sands revenue will grow by about 6% to 2022.
Recall that tax revenues in singapore incrased by 6.8% compared with the previous fiscal year, but the gambling sector has nothing to do with this this.