Genting Singapore shifts business priority to mass market

Genting Singapore PLC, which has been reliant to VIP high rollers in the past years, is moving to lure more mass players to its facilities amid dampening VIP credit quality.

Bloomberg Intelligence reported that the Genting Singapore is pivoting away from the VIP segment in casino gaming as the number of heavy-hitting gamblers from China dwindles as a result of the on-going crackdown from their government on corruption and capital outflows.

Data showed that the volume in Genting’s VIP segment has significantly dropped 76 percent since the first quarter of 2014. The data is in contrast with the casino operator’s mass market segment which is slowly becoming its bread and butter.

The same data showed that most of Genting’s casino revenue since the final quarter came from the mass market segment, with turnover of US$250mil to US$300mil.