Genting Singapore not immune to weakness in mass tables, analyst says

Marina Bay Sands’ weakness in mass tables is painting a bad picture for its rival, Genting Singapore’s Resorts World Sentosa.

Casino operator Las Vegas Sands reported this week that revenues for the second quarter of 2016 was flat at its Singapore integrated resort. VIP turnover at the Marina Bay Sands dropped by 29 percent, but it was offset by a 0.7 point rise in VIP win and a 6 percent spike in slots handle.

In addition, Marina Bay Sands reported a 10 percent year-on-year drop in mass table volume, and an 8 percent year-on-year decline in mass table GGR on a Singapore dollar basis. This, according to Union Gaming Asia, is Marina Bay Sands’ first year-on-year decline in mass table GGR “on a constant currency basis” since 2012.

“Not surprisingly, VIP volume declined significantly with management noting that the most weakness is at the highest end of the market,” Union Gaming analyst Grant Govertsen said in a note.