Reports SINGAPORE - MARKET UPDATE
“If the IRs exercise their options fully, gaming area will increase from 30,000sq.m in total to 32,500sq.m. However, a non- gaming area will expand by a much larger amount. Approved Gaming Area (AGA) as a proportion of total floor area will reduce from the existing 3.1 per cent to 2.3 per cent. Within the AGA each IR is currently allowed 2,500 gaming machines.” Keith Tan, Chief Executive of the Singapore Tourism Board.
“Te reconstituted agency will be able to draw on CRA’s rich experiences in regulating the casinos and its extensive network of international partners, while pooling together expertise in other forms of gambling regulation from other government agencies such as the Gambling Regulatory Unit within MHA.
“Having comprehensive transformation plans alone is not sufficient. To ensure a successful transformation to GRA it is also essential that our officers have a strong transformative mindset, where they possess the drive and will to try out new ways of doing things even when the existing ways are working well. It is one where our people learn, un-learn and re-learn in order to do better.”
INTEGRATED RESORTS
Te Integrated Resorts were developed to help enhance Singapore’s destination appeal as part of its overall tourism strategy
Te Singapore Tourism Board (STB) runs under the Ministry of Trade and Industry and was set up in 1964 to promote Singapore as a tourist destination. Tat year the country saw 91,000 visitors. In 2019 the country saw 19.1 million visitors. Te tourism sector currently contributes around four per cent to the country’s GDP.
Te two resorts will be investing a total of S$9m between them over the next few years to develop new attractions at the sites whilst in return the exclusivity period for the IRs has been extended to the end of 2030. Te additional investment of the two IRs is almost two thirds of their initial investment back in 2006 (about S$15bn).
Under the exclusivity agreement each IR is P60 WIRE / PULSE / INSIGHT / REPORTS
allowed 15,000 sq.m of gaming area although under the new investment project MBS and RWS will now be given the option to add an additional 2,000sq.m and 500sq.m respectively of gaming area.
Keith Tan, Chief Executive of the Singapore Tourism Board said: “If the IRs exercise their options fully, gaming area will increase from 30,000sq.m in total to 32,500sq.m. However, a non-gaming area will expand by a much larger amount. Approved Gaming Area (AGA) as a proportion of total floor area will reduce from the existing 3.1 per cent to 2.3 per cent. Within the AGA each IR is currently allowed 2,500 gaming machines.
MBS and RWS will be given an option to increase their allowable gaming machines by 1,000 and 800 respectively. Te IRs have indicated that the additional gaming provisions (both AGA and gaming machines) will be targeted at higher tier non-mass market players, who are mainly tourists.
“Te IRs have enriched our tourism offerings and enhanced our position as a global city for business and leisure tourism. Teir commitment to significant new investments reflects their strong confidence in Singapore’s long term tourism prospects. Te enhanced attractions, entertainment, MICE and accommodation offerings will provide more compelling experiences for visitors and locals and ensure that Singapore remains attractive as a destination for years to come.”
RESORTS WORLD SENTOSA
Owned by Genting Singapore (part of the Genting Group) this resort spans 49 hectares and is home to attractions such as Universal
Studios Singapore, Aquarium, Dolphin Island and waterparks. It features six luxury hotels with around 1,600 rooms, convention centre and casino plus dining and retail outlets.
Te resort has been open since 2010 and the gaming area is 15,000 sq.ft in size with more than 550 tables and more than 2,400 slots and electronic table games.
RWS suspended all its activities from the beginning of April 2020 until the end of June and progressively re-opened in the third quarter of 2020. Despite this, the company is moving forward with its S$4.5bn expansion plan entitled
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