“We understand most Malaysian VIPs are high-net-worth individuals with business or investment interests in Singapore. We also understand that most Malaysian mass-market gamblers are part of the 250,000 to 300,000 Malaysians who live in Johor but cross the Causeway daily to work in Singapore,” Yin adds.
The gaming sector is set to benefit from the Johor-Singapore Special Economic Zone (JS-SEZ). With the Rapid Transit System (RTS) Link expected to increase the number of Malaysian day commuters to Singapore, integrated resort (IR) operators in Singapore could see a boost in visitors and gamblers.
Based on ground checks in Singapore’s IRs, analyst Yin Shao Yang of Maybank Investment Bank found that Malaysians account for 20% to 30% of the city-state’s total gross gaming revenue (GGR). In his April 16 report, Yin noted that in 2023, the blended VIP and mass market GGR mix in Singapore was 36:64.
