SINGAPORE, Nov 11 (Reuters) - Earnings by Genting Singapore
Genting Singapore posted earnings before interest, taxes, depreciation and amortisation (EBITDA) of S$347.6 million in the third quarter, down from S$503.5 million in the three months ended June.
The Singapore casino recorded revenues of S$731.8 million in the third quarter, a decrease from S$860.8 million in the second quarter.
Singapore legalised casino gaming in 2005 and its two multi-billion-dollar casino-resorts began operating earlier this year -- Resorts World in February and Las Vegas Sands'
CLSA estimates the size of Singapore's casino market could match the Las Vegas strip by next year.
The brokerage expects Singapore's casino market to be worth $6.5 billion by 2011, matching the Las Vegas Strip, before surpassing Sin City in 2012 with a market size of $8.1 billion, said Jon Oh, an analyst at CLSA.
"Both Las Vegas Sands and Genting understand the Asian market better than others and they both know how to deepen spending at their casinos," Oh said. (Reporting by Kevin Lim and Charmian Kok, editing by Raju Gopalakrishnan)
((charmian.kok@thomsonreuters.com; +65 6403 5666; Reuters Messaging: (charmian.kok.reuters.com@reuters.net) ((If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com)) ($1=1.287 Singapore Dollar) Keywords: GENTINGSINGAPORE/