Singapore to be second biggest gaming destination after Macao
Singapore to be second biggest gaming destination after Macao
SINGAPORE, May 2 (Xinhua) -- Singapore is poised to be the second biggest gaming destination in the world after Macao this year, local TV reported on Wednesday.
Last year, analysts had made the same prediction but the outcome from two integrated resorts in Singapore fell short of this expectation, Channel NewsAsia said.
Analysts are confident that after Marina Bay Sands (MBS)' strong numbers, gross gaming revenue from the two local integrated resorts may overtake Las Vegas Strip by the end of this year. MBS raked in gross gaming revenue of over 2 billion U.S. dollars last year.
Meanwhile, its rival Resorts World Sentosa recorded net gaming revenue of close to 2.6 billion U.S. dollars in 2011.
Analysts said the combined gross gaming revenue of Singapore's two casinos is about 5.7 billion U.S. dollars. This is just a shy away from the total gaming revenue of 6.1 billion U.S. dollars collected from more than 20 casinos along Las Vegas Strip.
With MBS' recent strong first quarter showing, some analysts are upbeat that Singapore's gaming industry will overtake Las Vegas this year. MBS posted net revenue of 848.7 million U.S. dollars in the first quarter this year. Its casino earnings rose 51 percent to 701.3 million U.S. dollars.?