Singapore’s GGR stable, but analysts pick no growth

Singapore’s gross gaming revenue (GGR) has been consistently around $6 billion per year since 2011, when two large casinos - Marina Bay Sands and Resorts World Sentosa - first started operations.
Macquarie said in a note, “We think the Singapore gaming market cannot grow," And OCBC analyst Carey Wong says, "Gaming revenues in Singapore have already plateaued," a report by CNBC quoted her as saying.
Macquarie said "After three big years, tourist arrivals in Singapore have started to decline (down 3 percent year-to-July) and, most importantly, Chinese visitors who form more than 50 percent of Singapore VIP volume have fallen by 29 percent year-to-date”. VIP volumes make up around 80 percent of the city-state's total gaming volume, it said.
The bank cites a strong Singapore dollar and the setting up of new casinos in other Asian countries as other factors inhibiting growth.
OCBC’s Wong also cites the slowdown in China and crackdown on corruption, but he expects the slowdown to be temporary. “Once things die down, we'll see the return of these high rollers," he said.