Singapore's gaming revenues likely flat this year: Fitch

CREDIT rating agency Fitch Ratings said in a report on Tuesday that it expects gaming revenues in Singapore to remain at about US$4 billion in 2017 as the high roller or VIP segment remains weak.

Gaming revenues continued to slide in 2016 largely due to a steep contraction in the VIP segment, despite a 12.5 per cent gain in Chinese visitors - the biggest source of VIP revenue - in the first six months of last year, Fitch said.

It added that Singapore's two casinos will face "added competitive pressure" from Macau and the Philippines, and that there was also a risk, albeit low, of the Singapore government awarding additional gaming licences.