With so much doom and gloom in Europe (zzzz….), we thought we’d put things into perspective with a look at what’s happening in Asia, and in particular Singapore. Because as far as the casino industry is concerned, there ain’t much doom and gloom. Singapore’s casinos are expected to pull in close to S$9 billion next year. And checking my forex rates this morning, I make the Sing Dollar at 1.28 to the US dollar. So that’s $7 billion of Uncle Sam’s notes and €5 billion in Euro Money (although this last figure could inflate somewhat if Messrs Sarkorsky and Merkel don’t pull their fingers out of their proverbials).
Singapore, that entrepreneurial trading post south of the Malaysian peninsular, is making a name for itself as the world’s second biggest gaming market.
Add up all the bets from the Marina Bay Sands (MBS) and Resorts World Sentosa (RWS) and you get to roughly US$6.9 billion for next year. This assumes a 13 per cent year-on-year increase from this year’s numbers, which is pretty conservative. It could go higher.
Many market watchers expect Singapore’s gaming take in 2012 to beat Las Vegas. Maybe not this year, me thinks, as Las Vegas’ fortunes seem to be turning around along with the US economy. Even so…..it’s heady stuff.
Macau will easily remain the world’s biggest gaming market next year with an estimated US$40 billion in gaming.
In Singapore, the Marina Bay Sands has over 50% of the market (which is not suprising- have you seen the SIZE of it?)
Hotel occupancy at Marina Bay hit a staggering 98.1% in 2011.
Meanwhile, don’t forget the Sentosa Casino, which is owned by
Genting Casinos, & is hot on its heels. They are going after the High Rollers and VIP players with 22 new Villas (a new hotel called the Equarius and a bunch of other stuff).
So the next time someone tells you that the world’s economy is going down the pan…it’s not as simple as that.
Triumph motorcycles in the UK are doing well. British online casino companies are world beaters. Even Spain had a record year for tourists in 2011. Mini sales are going through the roof. Come on people! Let’s take a leaf out of Singapore’s book and turn this thing around !
