Nomura sees growth in VIP
The Casino Regulatory Authority of Singapore has renewed the casino license of Resorts World at Sentosa Pte Ltd., operated by Genting Singapore, the company has announced.
The new term began February 6 and will run until the same date in 2022. Genting Singapore won a gaming license in the market in 2007, and the resort opened its door in February 2010. The jurisdiction’s second casino resort, Marina Bay Sands, opened shortly thereafter in April of that year; they remain the only two gaming properties in Singapore.
A December note from Japanese brokerage Nomura said it expects growth in VIP gaming at Resorts World, with rolling chip volume growing 5 percent this year and 5 percent in 2020. Nomura’s analysts based their numbers on expectations that increased VIP credit will drive new and current customers from Southeast Asia and Northeast Asia, according to GGRAsia.
The note said the resort’s mass business is unlikely to change to a great degree.
