Singapore’s casinos do not need help in making profit

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Casinos in Macau would earn more than half of their revenue thanks to high rollers from China. Because of Beijing’s anti-corruption campaign targeting the gambling industry in Macau, high stakes players decided to leave the casinos in Macau and head for resorts in the Philippines, Vietnam, Cambodia, and South Korea.

It is a well-known fact that Chinese VIPs spend large sums of money in one go at the casino, thus, resorts in the Philippines and South Korea have lately experienced a sudden growth in revenue.

One country that has not yet reported profit from the Chinese players’ “migration” is Singapore. Officials are saying that the gambling business in the country is going well and it does not depend on players from China to boost the revenue. Apparently, Chinese casino players represent a small part of all the visitors, so the industry does not necessarily focus on attracting these customers in particular.

The manager of the Union Gaming Research in Macau, Grant Govertsen, stated, during the Global Gaming Expo Asia, that there are many advantages in the fact that the Singapore gambling business manages to maintain independence when it comes to revenue. He also pointed out that while VIP money signifies a major sum in terms of revenue, they account as a smaller value when it comes to profit.

Singapore is one of the most expensive cities in the world and that is why casino players do not venture to gamble too much. The taxes enforced in the industry are very high. The gambling industry in Singapore is closely analyzing the European legislation regarding gambling and it is planning to expand as soon as it determines the right regulations.

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