INTERVIEW-UPDATE 1-IGT in talks to supply machines to Singapore
* In talks to supply machines for Singapore's two casinos
* Expects market share for Singapore to be larger than Macau
(Adds quotes and details throughout)
By Sui-Lee Wee
MACAU, June 2 (Reuters) - The world's biggest slot-machine maker International Game Technology (IGT.N) (IGT) said on Tuesday it is in talks with Las Vegas Sands (LVS.N) and Genting International GNTG.SI to supply slot machines for Singapore's two upcoming casinos.
"We expect the market share (in Singapore) to be higher than Macau," Kurt Quartier, vice-president of IGT's international casino markets, told Reuters on the sidelines of a gaming conference in Macau.
Quartier declined to be more specific, but said its market share in Singapore would be less than 50 percent. IGT has a market share of less than 20 percent in Macau. It competes with Australian machine maker Aristocrat Leisure (ALL.AX), which has about a 55 percent share of Macau's slot market.
Sands is building a $5.4 billion mega-casino resort in Singapore, which is set to be ready by late 2009 or early 2010.
Malaysia casino operator Genting Bhd's (GENT.KL) unit, Genting International is developing Resorts World, which is located on the Singapore resort-island of Sentosa.
MACAU SLOWS DOWN
Macau's market for slot machine has seen "almost no activity", Quartier said. "People will change a few machines but a lot of operators are preserving cash."
The firm's outlook on Macau will improve once casino operators resume building their projects, he said.
Firms such as Sands and Galaxy Entertainment (0027.HK) have delayed their projects due to financing problems and the economic downturn.
Sales have fallen on a year-on-year basis, Quartier said.
IGT posted a 44 percent drop in second-quarter profit in April as the recession continued to hurt its casino customers.[nN21482523]
So far this year sales in Latin America are up from the same period a year ago, but the firm has seen a significant slowdown in Eastern Europe including countries such as Russia and Ukraine, he said.
Shares of IGT have soared 49 percent so far this year. Last Friday, its stock hit an eight-month high.
(Editing by Chris Lewis and Rupert Winchester)
((suilee.wee@thomsonreuters.com; +852 2843 6314; Reuters Messaging: suilee.wee.reuters.com@reuters.net))
((If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com)) Keywords: IGT/
(C) Reuters 2009. All rights reserved. Republication or redistribution ofReuters content, including by caching, framing or similar means, is expresslyprohibited without the prior written consent of Reuters. Reuters and the Reuterssphere logo are registered trademarks and trademarks of the Reuters group ofcompanies around the world.nTP197511
