Daily Asia Gaming eBrief: Singapore's threshold lowering bill could be passed in months

Wednesday 10th of July 2024

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Good Morning. Change is right around the corner. Specifically for Singapore, the new bill aimed at upping customer due diligence could be passed within months and come into effect soon after. While improving the environment, it's likely to up costs for operators and could cause some frustration with punters, a top expert notes. Meanwhile, LVS is paying for its construction and redevelopment efforts, losing market share in Macau, which is expected to recover once rooms are brought back online, according to Deutsche Bank.

What you need to know

The new bill for Singapore casinos' deposit threshold could be passed within months, likely to increase operator costs and client frustration.
Las Vegas Sands is expected to face challenges in market share and non-gaming contributions in Macau, brokerage Deutsche Bank noted.

On the radar

POGO ban being pushed on Marcos administration.
Macau gaming revenue starts weak in July: Brokerages.
Macau government's gaming tax revenue up 67% YoY in 1H24.
Philippines likely to push back deadline to exit FATF gray list to 2025.
Philippines is pushing for more international air arrivals.
SkyCity implements further measures against money laundering.

AGB Intelligence

SINGAPORE

New threshold bill for casino deposits to pass within months: expert

The bill requiring a lowered threshold on deposits in Singapore's casinos could be passed within months and come into effect soon after, according to a top industry expert. The move will likely increase casinos costs and potential client frustration but should improve the overall environment. It's also part of a raft of measures that have and are being implemented, making it unlikely that the upcoming changes are linked to the recent high-profile $2.2 billion money laundering case.

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