, Singapore

Genting's VIP business feared to sink into the red as bad debt provisions surge

VIP volumes will decline by 35%.

There was a time when high-rolling gamblers provided Genting its bread and butter. But after several difficult quarters, it is apparent that those good times are now a thing of the past.

According to Macquarie Securities, Genting's VIP segment is expected to run into losses in 2015 and 2016, with VIP volume feared to decline by a steep 35%.

Macquarie expects Genting's bad debt provisions to balloon to $300m in 2015 and 2016, up from just $262m in 2014 and $184m in 2013.

Macquarie also expects further declines in the group's non-gaming revenue and forecasts only a modest growth in the group's mass-market segment.


 

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!