Wednesday, February 24, 2010

Casino in Singapore : Sands boost coming with Singapore Casino Opening

24 Feb 2010 - 17:18
* Casino to open on Apr 27, full opening on June 23
* Second Casion in Singapore after Genting's Resort World
* Casinos to diversify Singapore economy, boost tourism, GDP
* Analysts expect Sands casino to fare better than GENTING's

Las Vegas Sands will open the first phase of its Singapore casino on Apr 27, earlier than expected, bringing into play a project CEO Sheldon Adelson say will generate $1B in annual profits.

The 5.5B Marina Bay Sands casino will start operating along with 963 hotel rooms, part of the shopping mall and convention centre, and several dining outlets, Las Vegas Sands said in a statement on Wed.

The opening of the Marina Bay casino follows the heels of the opening of Singapore's first casino,rival Genting Singapore's Resort World at Sentosa, on Feb 14.

"Given Marina Bay Sands' centralized location and possibly a higher quality product offering, Resorts world will likely see challenges in attracting casino patronage", said Deutsche Bank analyst Aun-Ling Chia in a note to clients.
"Resorts World needs to ramp up fast to fully leverage on the first-mover advantage, " Chia said.

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