Marina Bay Sands' rolling chip volume fell by 16.5%, implying softer gaming volumes.
The international gaming sector won't be expecting any uplift soon as it waits for newsflow on the Japan integrated resort (IR) concession bid that would only reach an exciting threshold in 2019, UOB Kay Hian said.
According to a report, the unexciting gross gaming revenue (GGR) growth is expected to spill over to Singapore.
Whilst Genting Singapore (GENS) targets to commendably expand its VIP volumes via prudent credit extension, the mass market segment remains sluggish and may be slightly impacted when Genting Malaysia’s 20th Century Fox theme park opens.
Genting Singapore has yet to report its Q4 results.
Despite the bleak outlook, Marina Bay Sands' (MBS) Q4 reported a lucky quarter amidst softer gaming volumes, UOB Kay Hian said.
Earnings grew 3% QoQ to $617m, thanks to an extremely high win percentage, as volumes were noticeably down. Q4 rolling chip volume (RCV) and non-rolling chip volume fell by 16.5% QoQ and 2.4% QoQ, respectively.
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