Integrated resorts' $9b investment will help Singapore stay ahead of rivals: Analysts

Visitors on the grounds of the Venetian casino resort in Macau. One growth area is the Cotai Strip, a stretch of reclaimed land off the Macau peninsula that is envisioned as a new Mice heavyweight and a high-end gaming hub. Last year, six IRs with al
One of the casino establishments in Sihanoukville, the coastal capital of Preah Sihanouk province in Cambodia. Rival markets like Cambodia, Macau and Vietnam are building more developments. PHOTO: AGENCE FRANCE-PRESSE
Visitors on the grounds of the Venetian casino resort in Macau. One growth area is the Cotai Strip, a stretch of reclaimed land off the Macau peninsula that is envisioned as a new Mice heavyweight and a high-end gaming hub. Last year, six IRs with al
Visitors on the grounds of the Venetian casino resort in Macau. One growth area is the Cotai Strip, a stretch of reclaimed land off the Macau peninsula that is envisioned as a new Mice heavyweight and a high-end gaming hub. Last year, six IRs with almost 10,000 rooms were completed.PHOTO: AGENCE FRANCE-PRESSE

The new $9 billion investment in Singapore's two integrated resorts (IRs), announced this week, will cement their appeal amid stiffening regional competition for a slice of the pie, analysts said.

All eyes are currently on Japan, a potentially lucrative market that last week green-lit standards for up to three planned IRs which must include hotels, conference rooms and shopping malls. The maximum floor space for casinos will be capped at 3 per cent of the total IR area, while residents must pay a 6,000 yen (S$73) levy.

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A version of this article appeared in the print edition of The Straits Times on April 06, 2019, with the headline 'IRs' $9b investment will help Singapore stay ahead of rivals: Analysts'. Print Edition | Subscribe