Tuesday, December 13, 2011

Asia-Pac gaming market to see slower growth in 2012, says S&P

KUALA LUMPUR (Dec 13): Standard & Poor's Ratings Services forecasts the Asia-Pacific gaming market to grow at a slow pace in 2012 after the rapid growth this year.

The rating agency said on Tuesday that it expected the industry to grow at a healthy rate in the next 12 months,

In its industry report card, "Asia-Pacific gaming industry: Growth rates are moderating, but are likely to remain healthy in 2012', it said the outlook on the Asia-Pacific gaming industry was stable.

S&P credit analyst Joe Poon said: 'We expect growth rates in Macau and Singapore, the gaming hotspots in the region, to moderate in the next 12 months."

He added S&P's base-case forecast for the Macau gaming market was an increase in gross gaming revenue of 10%-15% in 2012. As for Singapore, it expected net gaming revenue in Singapore to grow by 5%-10% in 2012.

'The other Asian markets are likely to accelerate their plans to develop licensed integrated casino resorts to spur growth in their economies.

"We expect operators in the region, with their improving financial capacity, to aggressively bid for casino licenses and invest billions of dollars into gaming projects," said Mr. Poon.

Poon said gaming operators were better positioned now than they were in 2008 to accommodate risks associated with investments in new gaming developments and any moderation in gaming demand."

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