Singapore Casinos Also Hit By The Crisis In 2015
Singapore casinos saw their numbers drop significantly in 2015. This is what their latest report shows. Today Macau is no longer the only one to be affected by the new Chinese regulations. Gambling no longer has the importance it once had in this country. The largest establishments have been considerably affected by this crisis. The figures were not very encouraging.
The largest establishments affected
Singapore has been one of the most popular destinations for gamers, big enough to rival the city of games: Las Vegas. But today, the country is having more and more difficulty in its activities, identical to the situation in Macau. It must be said that its game figures are based on two establishments: Resort World and Marina Bay. Both generate billions every year. Its numbers are significantly higher than those of Atlantic City casinos. But last year the situation took a real turn.
The Resorts World has had a real deficiency in its numbers. It collected a total of $ 143.5 million for 2015. The drop is huge compared to the results of previous years. The casino belongs to the Genting group. Because of this plunge, the group had to review its strategy and reassign some of these employees, especially those who worked in the VIP player sector. They were transferred to single players. Sheldon Adelson’s casino, on the other hand, is in a less dire situation. Compared to Resort World, it only registered a 10% decrease. The figures are markedly improved compared to those of 2014.
Another strategy to deal with it
Casinos have to face this situation and find a strategy to get the profits back up again. The worst is that of the Genting group which shows a decrease of 70%, which is really catastrophic. A solution is essential, because the urgency is there. Besides having reassigned its employees to high-roller, the casino has also undertaken other changes. Today he has taken another path to attract new customers.
He chose to focus on catering. For this he did not hesitate to recruit starred chefs, the best known as well as those who are Michelin starred. The disposition taken by the Chinese authorities is felt more and more. Today, China wants to prevent these nationals from going to spend in other countries. For that, it could soon ban destinations like Singapore, the Philippines or South Korea. Even if this provision has not yet been made, the hesitation of the players is already starting to be felt. Macau is no longer the only victim and since 2014 the situation is increasingly alarming.