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Genting Singapore Chinese gamblers drop pointsAnalysis: It may not be possible to restore the pre-epidemic level

Analysts pointed out that Genting Singapore’s gross gaming revenue (GGR) is not expected to return to pre-pandemic levels in anticipation of increased competition in the Asian market and tax cuts for casino customers from China.

Maybank Investment Bank pointed out in an analysis report that although Singapore has reopened its borders, earnings will still fall by 2% by 2024.

Data shows that Resorts World Sentosa’s VIP population will recover to 83% of 2019 levels by mid-2022, while the mass market segment is expected to recover to 92% in 2024.

The gaming landscape in Asia is changing, with markets in the Philippines and Cambodia rapidly developing and Thailand is also likely to legalize gambling, which will lead to the migration of casino customers to other markets.

Because of the great changes brought about by the epidemic, many online casinos have gradually risen in the market. People can’t go out or go to real casinos across borders but they can meet their needs through online casinos.

These online casinos are licensed and gamblers can rest assured that their personal and banking details are safe. Online casinos are exactly the same as physical casinos, and the experience is definitely more exciting than corpse casinos. In online gambling games, they are matched with background music and special effects to make players more exciting when playing the game. This experience is absolutely impossible to experience in a brick and mortar casino.

In this era of advanced network technology, we should use these high technologies to make people’s lives more interesting. Online casinos allow people to enjoy themselves at any time and place, saving a lot of time and effort. These are all things that can easily be done with an internet and a mobile phone or laptop.

Analysts pointed out that China’s criminalization of cross-border gambling in March last year, with penalties of up to 10 years, may also hit Genting Singapore’s earnings. But online casinos are different, players can gamble without having to cross borders.