Philippines unlikely to overtake Singapore before end of decade, Fitch says

The Philippines is likely to enjoy double-digit gaming growth until well into 2015, but past that date growth will be difficult to forecast and the country is unlikely to overtake Singapore in terms of gaming revenues before the end of this decade, ratings agency Fitch says in a report. 

It says there are risks that may constrain the Philippine market and those include Pagcor’s dual role as operator and regulator, weak transportation infrastructure, uncertainty over taxes and other legislation and potential border tensions with China disrupting VIP play. The ratings agency also pointed to potential risks from delays to projects by Travellers International Hotel Group and/or Japanese billionaire Kazuo Okada’s Tiger Resorts because of changes in the operating environment.