Glimmer of hope for Singapore IRs with Malaysia travel bubble tipped to start from 17 August – IAG

Glimmer of hope for Singapore IRs with Malaysia travel bubble tipped to start from 17 August – IAG

Singapore’s integrated resorts Marina Bay Sands and Resorts World Sentosa are coming in the coming weeks after Malaysian Foreign Minister Datuk Seri Hishammuddin Hussein revealed that a travel bubble between Malaysia and Singapore could be established as early as August 17. A welcome increase is possible.

Hussain announced details of the proposal to local media this week, with the bubble in some ways mirroring the arrangement between Macau and Guangdong province, including mutual recognition of COVID-19 test results.

Under the plan, the two jurisdictions will cooperate through the Reciprocal Green Lane (RGL) and Periodic Commuting Arrangement (PCS) to accept applications for cross-border travel from 10 August.

“I will contact the Foreign Minister, Dr Vivian [Balakrishnan] Tomorrow or the day after tomorrow, because Prime Minister Tan Sri Muhyiddin Yassin has discussed this issue with Singaporean Prime Minister Lee Hsien Loong,” Hussein said.

“So it has to be done on the basis that the people of both countries understand what we’re doing and let them do it responsibly so that it doesn’t compromise their own safety and well-being.”

Hussein added that the successful implementation of the bubble could pave the way for the opening of the border to more nearby countries.

Casinos in Singapore reopened on July 1, but with borders closed and only Singapore citizens and permanent residents visiting IR, Maybank analyst Samuel Yin Shao Yang estimates the current level of business is only 12.5% ​​to 12.5% ​​of pre-closure levels. 25%.

In a research note looking at Resorts World Sentosa, which he now expects to record a S$215 million loss in 2020 – down from a previous forecast of a S$50 million profit – Yin said Malaysians are likely to lose money in other markets. Tourists have seen mass-market gaming, which had previously returned in large numbers to Singapore, recover more quickly than the VIP market, as it “better caters to locals and Malaysians in the nearby hinterland”.

However, Yin also pointed out that casinos in Singapore appear to have adopted stricter social distancing measures than their Malaysian and Macau counterparts after the Singapore Tourism Board (STB) recently announced that venues must limit attendance to no more than 25 percent of capacity.

“The ‘capacity’ we gather, STBs, refers not to the number of tables and electronic gaming machines, but the number of gamblers in the casino at any one time,” he said.

“If true, the social distancing requirements imposed on casinos in Singapore (RWS and MBS) exceed those imposed on casinos in Macau and Malaysia.”

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