Win, lose or draw: Analysing the extension of the two casinos' duopoly

Some analysts think the joke is on the operators for having to invest $9 billion and still pay higher taxes, but that is just insurance to extend the duopoly till 2030

Analysts and commentators have roundly concluded - after the Singapore Government's announcement on April 3 - that the joke is squarely on the two integrated resorts (IRs).

Several analysts, including Morgan Stanley's, quickly declared the Government as the big winner; and JP Morgan decried the "unnecessary large investments" in the decision to extend the duopoly concession to 2030 in return for an additional investment of $9 billion by the two operators.

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A version of this article appeared in the print edition of The Straits Times on April 20, 2019, with the headline 'Win, lose or draw: Analysing the extension of the two casinos' duopoly'. Print Edition | Subscribe