Located on the southern tip of the Malay Peninsula, Singapore is among the major commercial centres worldwide. With population of 5.5 million (as of June 2014), the modern city-state is also among the top four financial centres, while its port is among the top five busiest ports on a global scale.
In an attempt to boost the city’s appeal to tourists, the government authorized gambling activities back in 2005, giving a green light for the development of two casino resorts, also known as Integrated Resorts – Resorts World Sentosa, which opened on January 20th 2010, and Marina Bay Sands, which began operations on April 27th 2010. Both casinos are under regulation by the Casino Regulatory Authority.
Billed at SGD 8 billion, the Marina Bay Sands resort houses a 2 561-room hotel, a 1 300 000-square-foot (120 000 m2) convention exhibition center, the 800 000-square-foot (74 000 m2) The Shoppes at Marina Bay Sands Mall, one museum, 2 huge theatres, 7 “celebrity chef” restaurants, 2 floating Crystal Pavilions, one ice skating rink and the largest atrium casino in the world containing 500 tables and 1 600 slot machines. On top is the fabulous SkyPark, which has a capacity for 3 900 persons and is 340 meters in length.
Billed at SGD 6.59 billion and developed by Genting Singapore, the Resorts World Sentosa consists of three zones – Central, West, and East. It offers four hotels with a total capacity of 1 840 rooms, a number of restaurants, salons and spa centers, the Marine Life Park, the Maritime Experiential Museum, the Universal Studios Singapore and the 15 000-square meter Casino. The grand opening of the resort was on December 7th 2012.
A Closer Look at Industry Numbers
| Total Number of Visitor Arrivals to Singapore (all modes of transport) | |||||
|---|---|---|---|---|---|
| Region | 2010 | 2011 | 2012 | 2013 | 2014 |
| Americas | 524,631 | 563,742 | 616,400 | 641,465 | 635,283 |
| Europe | 1,373,285 | 1,401,502 | 1,537,334 | 1,591,194 | 1,617,241 |
| Asia | 8,676,135 | 10,039,121 | 11,077,447 | 12,006,069 | 11,568,372 |
| Oceania | 989,027 | 1,093,415 | 1,189,147 | 1,261,128 | 1,207,896 |
| Africa | 75,532 | 73,390 | 67,994 | 66,634 | 66,070 |
| Not Stated | 53 | 133 | 7,769 | 1,433 | 290 |
| Total | 11638663 | 13171303 | 14496091 | 15567923 | 15095152 |
Source: Singapore Tourism Board
Within the period 2010-2014, the total number of visitors to Singapore has peaked during 2013 at 15 567 923 people. The strongest growth rate of visitors was recorded between 2010 and 2011 (+13.17%), while the lowest rate of increase was observed between 2012 and 2013 (+7.39%). The average annual rate of growth of visitations was 6.90% for the period in question. During the period 2010-2014, the number of visitors from the African region has fallen consistently. On the other hand, the number of Europeans who visited Singapore has been on the rise. Visitations from North and South America, from Asia, from Australia and New Zealand have all peaked in 2013, after which they all dropped in number in 2014, which resulted in a 3.04% overall decrease between 2013 and 2014.
| Annual Gross Gaming Revenue in Singapore in US dollars | |||
|---|---|---|---|
| Period | Resorts World Sentosa | Marina Bay Sands | Total Revenue |
| 2010 | $1,737,340,209 | $1,062,386,000 | $2,799,726,209 |
| 2011 | $2,144,343,082 | $2,364,922,000 | $4,509,265,082 |
| 2012 | $1,898,458,400 | $2,271,869,000 | $4,170,327,400 |
| 2013 | $1,748,094,400 | $2,363,140,000 | $4,111,234,400 |
The 23.43% annual growth of Resorts World Sentosa’s gross gaming revenue between 2010 and 2011 has been almost entirely neutralized by the two consecutive annual declines that followed.
Having posted a staggering gaming revenue growth rate of 122.60% between 2010 and 2011, Marina Bay Sands outperformed its rival in the past three years. The annual gaming revenue increase at Marina Bay Sands between 2012 and 2013 has been offset by the annual revenue drop at Resorts World Sentosa during the same period, which resulted in 1.42% annual slump in total casino gaming revenue during 2013.
| Quarterly Gross Casino Revenue in Singapore in US dollars | |||
|---|---|---|---|
| Period | Resorts World Sentosa | Marina Bay Sands | Total Revenue |
| Q1 2010 | $221,001,635 | – | $221,001,635 |
| Q2 2010 | $551,061,542 | $190,778,000 | $741,839,542 |
| Q3 2010 | $461,197,059 | $414,471,000 | $875,668,059 |
| Q4 2010 | $504,079,973 | $457,137,000 | $961,216,973 |
| Q1 2011 | $629,935,250 | $464,397,000 | $1,094,332,250 |
| Q2 2011 | $473,251,776 | $594,617,000 | $1,067,868,776 |
| Q3 2011 | $539,928,372 | $651,928,000 | $1,191,856,372 |
| Q4 2011 | $501,227,684 | $653,980,000 | $1,155,207,684 |
| Q1 2012 | $518,482,874 | $701,282,000 | $1,219,764,874 |
| Q2 2012 | $550,231,000 | $445,088,729 | $995,319,729 |
| Q3 2012 | $417,443,110 | $470,838,000 | $888,281,110 |
| Q4 2012 | $495,290,500 | $549,518,000 | $1,044,808,500 |
| Q1 2013 | $411,732,990 | $640,200,000 | $1,051,932,990 |
| Q2 2013 | $433,407,430 | $590,326,000 | $1,023,733,430 |
| Q3 2013 | $485,358,400 | $628,053,000 | $1,113,411,400 |
| Q4 2013 | $417,595,580 | $504,600,000 | $922,195,580 |
| Q1 2014 | $537,548,800 | $680,400,000 | $1,217,948,800 |
| Q2 2014 | $596,856,000 | $646,400,000 | $1,243,256,000 |
| Q3 2014 | $477,261,000 | $573,500,000 | $1,050,761,000 |
| Q4 2014 | $461,272,000 | $674,400,000 | $1,135,672,000 |
In terms of gross gaming revenue, during the period 2010-2014 the strongest quarter for Resorts World Sentosa was Q1 2011, when revenue was reported to have been USD 629 935 250. In Q4 2014 RWS posted a 10.46% increase in its gross gaming revenue compared to Q4 2013 and a 6.87% decrease compared to Q4 2012. In quarterly terms, RWS registered a 3.35% drop in its gaming revenue during the final quarter of 2014. Estimated at USD 461.272 million, it has been the lowest revenue figure since Q4 2013.
In terms of gross gaming revenue, during the period 2010-2014 the strongest quarter for Marina Bay Sands was Q1 2012, when revenue was reported to have been USD 701 282 000. In Q4 2014 MBS posted a 33.65% increase in its gross gaming revenue compared to Q4 2013 and a 22.73% surge compared to Q4 2012. In quarterly terms, MBS recorded a 17.59% increase in its gaming revenue during the fourth quarter of 2014. Estimated at USD 674.400 million, it has been the highest revenue figure since Q1 2014.
In terms of gross gaming revenue, during the period 2010-2014 the strongest quarter for the Singaporean casino industry was Q2 2014, when revenue was reported to have reached USD 1.243 billion. In Q4 2014 the sector posted a 23.15% increase in gross gaming revenue compared to Q4 2013 and an 8.70% surge compared to Q4 2012. In quarterly terms, the Singapore casino industry recorded an 8.08% increase in gaming revenue during the final quarter of 2014. Estimated at USD 1.135 billion, it has been the highest revenue figure since Q2 2014.
Within the period Q1 2010-Q1 2011, gross gaming revenue at Singapore casinos grew at an average quarterly rate of 69.33%. Within the period Q1 2010-Q4 2014, gross gaming revenue rose at an average quarterly rate of 15.47%.
| Casino Revenue Share in Singapore in % | |||
|---|---|---|---|
| Period | Resorts World Sentosa | Marina Bay Sands | Total |
| Q2 2010 | 74.28 | 25.72 | 100 |
| Q3 2010 | 52.67 | 47.33 | 100 |
| Q4 2010 | 52.44 | 47.56 | 100 |
| Q1 2011 | 57.56 | 42.44 | 100 |
| Q2 2011 | 44.32 | 55.68 | 100 |
| Q3 2011 | 45.30 | 54.70 | 100 |
| Q4 2011 | 43.39 | 56.61 | 100 |
| Q1 2012 | 42.51 | 57.49 | 100 |
| Q2 2012 | 55.28 | 44.72 | 100 |
| Q3 2012 | 46.99 | 53.01 | 100 |
| Q4 2012 | 47.40 | 52.60 | 100 |
| Q1 2013 | 39.14 | 60.86 | 100 |
| Q2 2013 | 42.34 | 57.66 | 100 |
| Q3 2013 | 43.59 | 56.41 | 100 |
| Q4 2013 | 45.28 | 54.72 | 100 |
| Q1 2014 | 44.14 | 55.86 | 100 |
| Q2 2014 | 48.01 | 51.99 | 100 |
| Q3 2014 | 45.42 | 54.58 | 100 |
| Q4 2014 | 40.62 | 59.38 | 100 |
Having contributed to as much as 74.28% of total gaming revenue in the second quarter of 2010, Resorts World Sentosa had the lowest revenue share of 39.14% in Q1 2013. Within the period Q2 2013-Q4 2014, on average, RWS accounted for 44.20% of overall gaming revenue in Singapore.
Having contributed to as little as 25.72% of total gaming revenue in the second quarter of 2010, Marina Bay Sands had the highest revenue share of 60.86% in Q1 2013. Within the period Q2 2013-Q4 2014, on average, MBS accounted for 55.80% of overall gaming revenue in Singapore.
