Despite the issues, the gambling industry round the globe is experiencing, market experts have no hesitations in determining several resorts that remain attractive to players of all ages and all nationalities. Along with the excitement all Las Vegas and Atlantic City-based casinos offer, players, located in Asia, can indulge themselves in the gripping atmosphere of the casinos, based in Singapore.
Sadly, the Asian gambling sector was affected by the crisis and although the latest reports show a slight improvement, revenues remain unstable in general.
One of the prominent companies, operating in Singapore, has just released information about the revenue generated and expectedly, the statistics is not too optimistic. Genting Singapore PLC announced that the revenue fell by 17% and the profit fell by 50%.
These results just come to approve of the statement that the gambling sector in Singapore has been severely affected by all those factors that imposed the current issues. The trouble with the VIP gambling affairs in China was believed to be among the main reasons for the rapid downfall.
A prominent gaming expert with years of experience in analyzing crises in the gambling sector and suggesting methods for solving them, said that the issues, concerning the revenue and the profit of Genting Singapore were not too surprising, bearing the fact that they are predominantly cyclical, rather than structural, in mind.
The analyst also added that despite the tough challenges, the company is facing up to, its management is reliable and it is likely to resist the crisis and overcome the difficulties sooner than expected.
As a matter of fact, managers of Genting Singapore have big plans that will be released in the foreseeable future.
Apparently, the situation with the gambling revenue is not particularly stable but as far as the non-gambling sector is concerned, Genting can take pride in being a preferred and desirable venue.
During the third quarter of the year, the total occupancy of the hotel rooms was 95%, which respectively means that owners have earned $400 daily per every room. The performance of all the other facilities, including theme parks and outlets, remained relatively stable during the third quarter as well.
Another venture, Genting Singapore is about to take part in, is establishing a luxurious resort, located in Jeju Island, South Korea. Managers have already made the first steps and announced early talks with their South Korean partners.
Another accomplishment Genting Singapore can be proud of is company’s reputation that make Genting Singapore one of the main pretenders for obtaining a licence for building a casino venue in Japan. It seems like the management will have to wait for approval for an indefinite period of time as the gambling legislation procedure in Japan was halted.
Marketing experts are convinced of the bright future of the company and according to their predictions, Genting Singapore will successfully deal with the problems without filing for bankruptcy for more than one year. They also believe that the decline in the VIP revenue is not going to last forever and things will improve in 2015.
