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“It becomes too expensive for leisure travellers to come to Singapore.”

Singapore’s market share has increased to 21% since the start of the pandemic, when it held 8%.

The company also saw a 27% rise in its profit after tax compared to the same period in 2022.

Revenue from continuing operations decreased by 5%, while profit from continuing operations saw a drop of 35%.

The state has seen a significant increase in its sports wagering vertical, posting a 44% increase for April and 41% for the year so far.

Following less strict Covid-19 restrictions in Macau, Melco sees its numbers on the rise.

The casino operator sees a renewed interest in Macau, as well as growth in US properties, in profitable first quarter.

The land-based and online casino operator has recently acquired BarStool sports and more than quadrupled its Q1 net income.

The company also revealed that adjusted EBITDA losses were down to $8.7m, the lowest it has been for over 15 months.

However, Caesars has seen a 21% increase in revenue, with its net loss still down on previous quarters.