If you're not a risk taker, you should get the hell out of business.
—Ray Kroc
| INVITE FRIENDS! |
| A record low |
Figures on casino entry levies show that gamblers are losing interest in Singapore's two integrated resorts.
How are the numbers doing?
The latest annual report issued by the Singapore Tote Board shows total casino entry levies of S$134m in the 12 months ending March 31, 2017. This is significantly lower than the S$145m entry level total registered in fiscal year 2016-2017.
That is alarming.
We're not yet done with the bad news. In fact, the 2017 entry fee total is the lowest since Las Vegas Sands' Marina Bay Sands and Genting's Resorts World Sentosa opened in 2010.
What could be the cause of the decline?
Two things seem to cause the decline: the casino entry fee imposed to punters and the intervention extended to problem gamblers. Singapore requires local residents to pay a daily levy of S$100 (US $75) or annual levy of S$2k in order to access the casinos' gaming floors. Also, the city-state allows the kin of problem gamblers to have their relatives banned from entering casinos.
The entry levy had disenfranchised punters.
Gamblers are seeking out other gambling options like levy-free shipboard casinos and unauthorized online gambling sites to avoid paying the entry fees in casinos.
Is all lost in Singapore's gambling industry?
No. Singapore's lottery and sports betting proved to be one of the market's bright spots, with turnover up 2.5% year-on-year to S$7.2B.
Takeaway
The government and the integrated resorts owners should sit down and devise a solution to curb the decline of patrons entering the casino floors.
| FEATURED VIDEO |
SiGMA 2017 day 1 recap
Talk about delivering on a promise! Now in its third year, SiGMA, “Summit of iGaming Malta," has absolutely grown up into one of the must-attend iGaming conferences of the year.
| FROM COINGEEK.COM |
Users lose $3M funds to elaborate SegWit Gold scam
The MyBTGWallet asked users to send their private keys to import SWG from BTC seed, noting that the tool works "with BIP44/BIP39, so it's compatible with wallets like Jaxx, Mycelium, or Copay."
| GLOBAL ROUND UP |
| ASIA |
In a 7-5 vote, the Cebu City Council (CCC) has backed the bid of Philippine property developer Universal Hotels and Resorts Inc. (UHRI) to construct an integrated resort in the city's Kawit Island.
| EUROPE |
A bookmaker has been arrested for suspected violations of local gambling law concerning fixed odds betting terminals.
| NORTH AMERICA |
The British Columbia Lottery Corporation (BCLC) announced that it will update its operational services agreement (OSA) to curb rampant money laundering in casinos.
| FACT YOU NEED TO KNOW |
SuperData, a gaming and technology research firm, estimates that ads and direct consumer spending on game video content will reach $4.6 billion in 2017.
| TIP OF THE DAY |
If you're in a sector which makes content marketing difficult and it is tough to convince influencers that your content is worth sharing, the only solution is to produce something great. It's either you go big or go home.
| PRESS RELEASE |
Eurobet roll out Expanded Virtual Football Suite with Betradar
Eurobet will be the first operator in Italy to roll out Betradar’s Virtual Football League and Virtual Football Nations Cup across its retail, online and mobile platforms.
| SHOUT OUT |
Congratulations to Lotto Warehouse for getting the Lottery Product of The Year award at this Malta iGaming Awards. The Saint Julian-based company received the award at a ceremony held at the Island’s MFCC Convention Centre.
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