Singapore nationals and permanent residents might choose to steer away from the city-state’s two casinos due to the steep hike in the entry fee they are required to pay in order to be allowed access to the gaming facilities.
Residents of the city were previously required to pay S$100 for a daily casino pass or a S$2,000 annual entry fee.
The Singaporean government this spring introduced a 50% hike in both levies, thus raising them to S$150 and S$3,000, respectively. International casino visitors are not required to pay any entry fees in order to be able to gamble at the city’s two casinos.
According to Maybank analyst Samuel Yin Shao Yang, the steep hike in the casino entry fees could prompt many nationals and permanent residents to “not renew their annual passes when they expire, exerting downside pressure on mass market gross gaming revenue. The mass market, in our view, is more important than the VIP one as its earnings before interest, taxation, depreciation and amortization margin is approximately 60% or two to three times that of VIP.”
No Copyright infringement intended. Video/Photo Unknown Direct for credits/issue or text us +57 3606412 ... | Respect to Photographers & Influencers
