Fitch Ratings Inc has forecast a 10% increase in Singapore’s casino revenues in 2024 from this year’s figure. The estimate is contained in a fresh report on the global outlook for the gambling industry.
We expect revenues to be driven by an increase in [the number of] foreign visitors in 2024, as arrivals in October 2023 were about 25% lower than in 2019. Singapore continues to perform above expectations as customer growth diversifies outside of China, the agency said.refurbished rooms in the first nine months of 2023, and Genting Singapore Ltd provided loans to customers during 2023.
Rating Agency also analyzed the situation with the casino industry in Macau. Fitch Ratings forecasts that the number of visitors to the region will grow in 2024 – even as China’s economy weakens. This will be facilitated by the recovery of airport capacity in Hong Kong and Macau and the continued growth in air travel.
The Fitch Ratings report also includes an outlook for Malaysia’s only casino, Resorts World Genting, which is operated by Genting Malaysia Bh