Hit the jackpot: Singapore's gaming revenue up 10% in H1
That is after declining 30% in the past two years.
Singapore's gross gaming revenue (GGR) grew by around 10% YoY in 1H2017, after falling by around 30% over 2015–2016, Fitch Ratings revealed.
GGR is expected to continue growth in 2018, driven by sustained growth in visitor arrivals.
For the first eight months of 2017, visitor arrivals grew by 4%. In 2016, the number increased by 8%.
"We do not believe competitive pressures in the Singapore market will increase in the near term as new licenses are unlikely," Fitch Rating said.
Meanwhile, Chinese visitors were the largest segment by nationality in Singapore in the first eight months of 2017, at 19% of total arrivals.
Fitch Ratings senior director Alex Bumazhny commented, "2018 is set to be a good year for gaming operators and suppliers globally amidst a strong economic backdrop and a relatively benign new supply environment. Whilst many gaming companies will ramp up returns to shareholders, we expect these returns to be balanced with preserving, and in some instances improving, balance sheet strengths."