The casino segment covers all gambling activities within casino establishments, such as card games, roulette, and slot machines located in casinos; tips and admission fees are included, but additional revenues such as food, drink, and accommodation sales are excluded.
Singapore is the third biggest market in the Casino industry. The market size of the casino sector in Singapore reached a value of $1.8 billion in 2021, accounting for 1.5% of the global market size. It is the biggest market in Asia-Pacific, accounting for 4% of the market size in the region.
Earlier in the year 2020, the COVID-19 outbreak greatly impacted the sector as the casinos were forced to shut their business for most of the year due to the government’s restrictions and lockdowns. As a result of this, in the year 2020, the market value of casinos in Singapore saw a de-growth of 6%, and later in the year 2021, it saw a further de-growth of 50%, accounting for almost $2 billion. Due to this, Singapore lost its second place in the global Casino market to France.
Even after the restrictions were eased and the Casino sector was witnessing a global recovery in demand, Singapore was one of the few regions with negative growth.
As a result of this, the casino market in Singapore grew at a CAGR of negative 19% during the period 2017-2021. The primary reason for this is that the people became more cautious with their spending post-pandemic which hampered the demand for casinos in this region which was already on a downhill before the pandemic hit.
Many games provided by the casino require attendants to be in proximity to each other or be played between groups of people. Thus, when casinos were open, they needed to adjust their games and follow the government’s coronavirus safety measures, thereby decreasing demand for the sector in general.
The major companies that have a strong presence in Singapore’s casino market include Marina Bay Sands Casino, Aegean Paradise Cruise, and Crockfords Tower among others.
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Malaysia
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