Marina Bay Sands has widened its lead over Resorts World Sentosa as Genting Singapore prepares for a decision on the renewal of its casino licence.
Casino revenue at the Las Vegas Sands property exceeded US$2.1bn during the first half of 2026, more than three times the comparable figure generated by Resorts World Sentosa.
The disparity has increased pressure on Genting Singapore to attract more high-value international customers and demonstrate that its S$6.8bn (US$5.3bn) redevelopment can improve the resort’s performance.
Singapore’s Gambling Regulatory Authority granted Resorts World Sentosa a two-year casino licence from February 2025, rather than the usual three-year term, after describing the resort’s tourism performance as “unsatisfactory”.
The regulator is assessing the company’s renewal application and expects to announce its decision before the licence expires in February 2027. Its assessment covers the performance of the entire integrated resort rather than its casino alone.
Marina Bay Sands received a new three-year licence in 2025.
Resorts World Sentosa said it had added attractions and experiences during the past 18 months while improving its gaming and hospitality operations.
“The early signs of progress are encouraging,” the company said, adding that the investment programme was intended to position the resort “for sustainable growth over the next decade”.
Resorts World Sentosa’s share of Singapore’s VIP gaming market fell from a leading position in 2023 to approximately 20% during the first quarter of 2026, according to DBS research.
Its share recovered to 36% in the second quarter after VIP wagering volume increased by 21% from the previous three months. Gaming revenue remained broadly unchanged at S$401m ($313m).
Marina Bay Sands experienced weaker VIP revenue during the quarter, partly because some high-value customers travelled to the football World Cup and diverted spending away from the casino.
Ben Lee, managing partner at gaming consultancy IGamiX, said Resorts World Sentosa had been unable to match the luxury experience offered by its rival.
“I see them losing the battle, and even more market share,” Lee said.
Genting Singapore is undertaking a redevelopment scheduled for completion in 2030. The programme includes a new all-suite hotel, an expanded oceanarium, additional waterfront facilities and Super Nintendo World at Universal Studios Singapore.
Marina Bay Sands is responding with an $8bn expansion incorporating a fourth hotel tower and a live entertainment arena.
Vitaly Umansky, senior analyst at Seaport Research Partners, said Marina Bay Sands had made its property more attractive to higher-value customers.
“Resorts World has a lot of wood to chop in order to try to gain back some of that market share,” he said.
