Here are a few thoughts from my trip yesterday in Singapore. I will follow up with Macau comments later in the week.
- No visibility on junket approval
- Underground junkets not a major factor for Genting anymore. Been cracking down from government pressure. May explain some of the market share loss that is sure to be sustainable.
- Genting seriously thinking about becoming more transparent.
- Singapore economy still strong but little growth from local population expected and may even be difficult to maintain. Approximately 30% of visitors are local.
- Genting thinking they can hold 50% market share in Q3 but we’re not so sure.
- Junkets think they can grow volumes by at least 20%.