Stable outlook for Singapore's gaming sector in 2016: Fitch

Singapore

THE outlook for Singapore's gaming sector is stable even amid muted economic growth and flagging tourist arrivals, according to Fitch Ratings.

After sliding 10 per cent to US$4.8 billion this year, the city-state's gross gaming revenue will plateau next year, the ratings agency reckons. The earlier slowdown was attributed to the clampdown on corruption in China, the depreciation of certain regional currencies as well as weaker economic growth in the region. In addition, there is rising competition from integrated resorts in the Philippines and South Korea.