Research analyst Liu Jinshu said: "The Singapore gaming industry is still in an early stage of growth.
"There's still a very much wider audience to reach globally. And on top of that, you must consider the fact that the integrated resorts are not just marketed as casinos, but also as a family and MICE attraction.
"So when you look at the whole value proposition of our integrated resorts, there are still a lot of areas for development".
According to forecasts by brokerage firm CLSA, Singapore's gaming revenue could hit US$6.5 billion this year, on par with that of Las Vegas, but behind Macau at US$30.1 billion.
By 2012, Singapore is expected to rake in US$8.1 billion, ahead of Las Vegas at US$6.8 billion.
According to analysts, Singapore regulators are expected to award these licences as early as the end of March.
Experts said they do not see any major stumbling blocks for the industry in the short term, and are bullish on its prospects amid rising disposable incomes.
In the three months that ended in December, MBS earned a pre-tax profit of S$391 million from S$717 million in revenue.
RWS garnered a pre-tax profit of S$389.8 million from S$775 million in revenue.
ORIGINAL SOURCE
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