The two land- based casinos in Singapore recorded a gaming revenue increase of 3.8 percent in 2013, but the market still tails the Las Vegas Strip. Namely, the Marina Bay Sands operated by Las Vegas Sands Corporation and Resorts World Sentosa owned by Genting Group together produced a gaming revenue of $6.077 billion last year, which is lower compared to the Strip’s gaming revenue of $6.5 billion in the same year.
Both markets, however, are placed behind Macau which is the biggest gaming destination in the world. Its gaming revenue in 2013 reached a record of $45.2 billion.
Analysts believed that Singapore would pass the Last Vegas Strip and would become no. 2 gambling destination in the world. Grant Govertsen, the managing director at Union Gaming Group, said that this would probably not happen because the mass- market sector in Singapore has slowed down even though VIP play continues to expand and grow. He also said that Singapore would probably remain no.3 gambling destination in the world or at least until Japan legalizes casinos.
The total gaming revenue of Marina Bay Sands in 2013 is $3.135 billion which is 6.6 percent up over 2012. Resorts World, on the other hand, has noted a 1 percent increase or $2.942 billion in gaming revenue to be exact.
Compared to the other gambling destinations, the revenues of the Strip grew 4.8 percent in 2013 which is its fourth consecutive annual increase. Macau is whole other story. The Chinese market has noted 18.6 percent increase in gaming revenue in 2013 and there are no signs of slowing down. In January 2014 the total revenues of Macau increased by 7 percent over the previous year.