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 million was almost three times that of Singapore, Malaysia and Macau combined. Full story
