Weaker ringgit, rupiah dampen S'pore casinos' takings

Singapore

THE Malaysian ringgit's fall to 17-year lows against the Singapore dollar will limit the Republic's mass-market gaming revenues even after the opening of Genting Singapore's new hotel in Jurong, close to Malaysia's border, analysts said.

Singapore casinos derive roughly half their annual gaming revenues - amounting to about US$6 billion in 2013 - from mass-market visitors, who gamble a few hundred dollars in a sitting rather than thousands of dollars a hand like VIP guests.