28 Feb '13, 4am

PH gambling business seen surpassing Singapore’s $5.6B market by 2018

PH gambling business seen surpassing Singapore’s $5.6B market by 2018 By Doris C. Dumlao Philippine Daily Inquirer 11:55 am | Thursday, February 28th, 2013 MANILA, Philippines—The Philippines’ burgeoning gaming industry may surpass Singapore’s $5.6-billion gaming market by 2018 on the back of a larger local mass market and likely spillover of foreign high-rollers, foreign bank Credit Suisse said. In a new equity research dated February 27, “Let the Games Begin,” Credit Suisse initiated coverage of the Philippine gaming sector with a rosy outlook of 28 percent compounded annual growth rate for the industry over the 2012 to 2018 period. “We view the Philippines as having a potentially larger domestic market in the high-margin mass segment compared to other Asian gaming hubs on the back of favorable demographics,” the report said, noting that the Philippine population of 97 m...

Full article: http://business.inquirer.net/109915/ph-gambling-business-...

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