Gross gaming revenue in Singapore recorded a 10% jump in the 2024 period, according to Fitch Ratings.
After recording what will likely be a 15% increase in gross gaming revenue (GGR) this year, Singapore‘s two integrated resorts could record a 10% increase in GGR in 2024.
Fitch Ratings noted that GGR generated this year by Las Vegas Sands’ Marina Bay Sands and Genting Singapore’s Resorts World Sentosa easily surpassed levels seen before the coronavirus pandemic began.
The ratings agency noted that the two casino resorts are doing an admirable job attracting international visitors and diversifying their customer bases beyond Chinese gamblers.
Singapore continues to perform above expectations as customer growth diversifies away from China,” Fitch noted.
“In particular, arrivals from mainland China are still well below pre-pandemic levels despite improvements since reopening,” Fitch said.
Together with Resorts World Sentosa, MBS operates as a duopoly in the city-state.
It’s a status that has received protection for decades as companies expand non-gaming attractions to attract travelers to the tourist region.
New offering could boost gross gaming revenue in Singapore
Marina Bay Sands and Resorts World Sentosa are expanding to accommodate increased demand following the pandemic.
Sands previously announced major improvements to its Singapore location.
This includes the addition of 1,200 guest rooms, convention and meeting space, and a 15,000-seat entertainment arena.
However, these investments are essential because MBS is one of the most profitable casino hotels in the world.
On the other hand, its competition in the region is fierce in terms of attracting tourists.
