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A new quarterly record 

Singapore gross gaming revenues rose 11% YoY and 9% QoQ to a new quarterly high in Q1 2012.  GGR crossed the S$2 billion mark to S$2.093 billion.  For comparison, Macau GGR grew 1% QoQ and 27% YoY in Q1.  Singapore property EBITDA rose 3% QoQ to S$985MM, also setting a new record.  

 

VIP RC grew QoQ by 22%, but was down slightly YoY at S$31.7BN and 14% below the market high set in 3Q11. Mass drop and slot handle were up YoY by 4% and 31%, respectively to S$2.8BN and S$6.8BN, however, both categories were down QoQ.  YoY we have seen the number of slots and ETG's expand by 20% to 4,919 and the number of VIP tables expand 15% to 315, while Mass table growth has only been 2% to 855. 

Q1 hold was 3.49%, slightly lower than Q4’s 3.58% but higher than Q1 2011's hold of 3.25%.  Average hold for the 2 IR’s since 1Q10 has been close to 3.09%. 

Q1 MARKET SHARES

GGR:

  • MBS:  52.3%
  • RWS:  47.7%

Net Revenue:

  • MBS:  57.5%
  • RWS:  42.5%

Property EBITDA:

  • MBS:  60.7%
  • RWS:  39.3%

Mass Table Revenue:

  • MBS:  52.7%
  • RWS:  47.3%

Mass Table Drop:

  • MBS:  53.4%
  • RWS:  46.6%

VIP Table Revenue:

  • MBS:  52.3%
  • RWS:  47.7%

VIP RC:

  • MBS:  51.1%
  • RWS:  48.9%

Slot Revenue:

  • MBS:  51.2%
  • RWS:  48.8%

Slot Handle:

  • MBS:  45.7%
  • RWS:  54.3% 

SINGAPORE Q1 2012 REVIEW - PROP

SINGAPORE Q1 2012 REVIEW - s pore0

SINGAPORE Q1 2012 REVIEW - s pore2

SINGAPORE Q1 2012 REVIEW - spore10

SINGAPORE Q1 2012 REVIEW - mass rev

SINGAPORE Q1 2012 REVIEW - mass drop 

SINGAPORE Q1 2012 REVIEW - vip rin

SINGAPORE Q1 2012 REVIEW - vip rc

SINGAPORE Q1 2012 REVIEW - 1

SINGAPORE Q1 2012 REVIEW - 2