Singapores gaming firm revealed a digital blueprint, and its income has surpassed pre-pandemic figures.

The government-owned gambling monopoly witnessed its income rebound to over 20% above pre-pandemic levels in 2021-22, increasing from S$8.4 billion in 2018-19 to S$10.1 billion (US$7.2 billion/€6.3 billion/£7.2 billion), the last data before the COVID-19 outbreak.

According to the operator, the surge in sports wagering was the primary driver of revenue growth. Singapore Pools incorporated five new South American soccer leagues into its offerings, and the resumption of delayed matches, particularly the 2021 European Championship, also contributed to additional revenue growth.

Lottery income also recovered to pre-pandemic levels, but horse racing betting remained below trend levels as gambling venues continued to implement COVID-19 prevention measures.

Total funds collected through gambling taxes and levies reached S$2.1 billion, a 30% increase from the previous year, rising from S$1.6 billion to S$2.1 billion, but not yet significantly surpassing pre-pandemic normal levels.

Due to the rise in income and lower operating expenses compared to previous periods, the surplus paid to the Gambling Commission attained a record high of S$464 million, compared to S$456 million in 2019-20 and S$455 million in 2018-19.

Digital strategy

In the wake of the global health crisis, this government-owned branch has encountered both prospects and hurdles brought on by the rise of digital technologies and advancements in technology.

Kay Nagoorwala, head of Singapore Pools, emphasized: “The recent health emergency combined with technological progress has sped up the adoption of digitalization, affecting all facets of life.” “This has enabled Singapore Pools to adopt more digitalization in its business operations to better meet customer expectations, but unfortunately, technology has also empowered illicit actors to reach a wider audience more directly.”

“In an increasingly digital environment, Singapore Pools aims to remain competitive and continues to push for digitalization in its operations under the SP2025 strategic plan, which is overseen by the Transformation Project Office in collaboration with operational departments.”

Nagoorwala outlined how this strategy supports the organization’s human resources initiatives.

“On the human resources front, we are investing heavily in employee development and taking a long-term perspective, believing that people are the core and driving force of the organization, possessing deep inherent knowledge. I am confident that this combined investment in talent and technology will be crucial to Singapore Pools’ success in the years to come.”

In March, Singapore Pools entered into a six-year agreement with IGT Global Services Limited, a subsidiary of International Game Technology (IGT), to provide the operator with the Aurora central lottery system.

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