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Analysts: Singapore Casinos Won't Cut Macau Gaming Revenue

20 April 2005

SINGAPORE – As reported by the Bloomberg News: "Singapore, which lifted its ban on casinos this week, probably won't cut gaming revenue at Macau, dubbed `Asia's Las Vegas' by casino billionaire Sheldon Adelson, because the cities are vying for different markets, analysts such as Karen Tang say.

"`Singapore and Macau target two different groups of gamblers,' said Tang, a Hong Kong-based analyst at Deutsche Securities Asia Ltd. `` will draw the Indonesian Chinese, the Thais and the Malaysians; Macau will get the mainlanders.'

"Mainland Chinese would choose Macau for proximity, and its reputation as a place for `exciting gaming action,' said Manuel Joaquim das Neves, Macau gaming control board director. Aside from Southeast Asian visitors, Singapore's casinos may also draw `more sophisticated travelers' compared with Macau, William Weidner, Las Vegas Sands Corp.'s president, said on March 18.

"… 'Both Singapore and Macau want to become hubs for business conferences,' said Deutsche Securities's Tang. `That's where Singapore might give Macau a run for its money.'"

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