Extending credit to high rollers may be easy for Singapore’s casinos, but recovering those debts is proving to be a persistent challenge. The number of VIP players failing to repay what they owe has risen sharply, creating growing concern for…
The mastermind behind a sophisticated casino chip counterfeiting scheme that defrauded Marina Bay Sands in Singapore of HK$1.29 million (US$165,500) has been sentenced to seven years in prison. On Wednesday (June 7), the court heard that 54-year-old Toh Hock Thiam…
Las Vegas Sands exceeded earnings forecasts, driven by a strong recovery in Macau and record-breaking results from its Marina Bay Sands resort in Singapore. In its latest financial disclosure, the company reported that Marina Bay Sands generated $492 million in…
Brokerage firm Sanford C. Bernstein has raised its 2017 VIP gross gaming revenue (GGR) forecast for Singapore casinos by 18%, citing stronger-than-expected performance from one major resort. In a research note released Friday, the firm projected that combined VIP revenues…
Genting Singapore reported robust third-quarter results, fueled by stronger-than-expected spending from high rollers at Resorts World Sentosa (RWS). The integrated resort operator saw profits jump 35% year-over-year, driven by solid performance from VIP and premium mass market segments. Overall gaming…
Singapore’s Second Minister for Manpower and Home Affairs, Josephine Teo, announced this week that the government is preparing to streamline its casino and gambling regulations. The goal: to safeguard an industry that generates significant revenue for the state while ensuring…
President Donald Trump has been nominated for the 2019 Nobel Peace Prize following his historic Singapore Summit with North Korean leader Kim Jong Un. Nearly a decade after Barack Obama won the award for his “extraordinary efforts to strengthen international…
Las Vegas Sands Corp. (LVS), led by billionaire Sheldon Adelson, has announced a $3.3 billion expansion of Marina Bay Sands in Singapore, the most profitable casino property on the planet. In a filing with the U.S. Securities and Exchange Commission,…
Singapore’s casino entry levy program has delivered nearly $1 billion to the government since its introduction in 2010, according to new figures revealed in parliament. The city-state is home to two integrated resorts – Marina Bay Sands and Resorts World…
Genting Singapore Ltd. is one of seven major operators competing for Japan’s highly sought-after casino licenses, and its strong balance sheet may prove decisive. Maybank Kim Eng analyst Samuel Yin Shao Yang noted that Japanese regulators are expected to prioritize…
Marina Bay Sands — the Singapore casino resort owned by Las Vegas Sands Corp. (NYSE: LVS) — is seeking up to $5.86 billion in financing, marking its first loan market entry since 2012. The move is expected to test lenders’…
As expected, Genting Singapore and Melco Resorts & Entertainment (NASDAQ: MLCO) have officially advanced in Yokohama’s request for proposal (RFP) process, moving one step closer to securing one of Japan’s first three integrated resort (IR) licenses. Japan’s second-largest city announced…