Singapore GGR growth forecasts cut as China economy slows

    Gross gaming revenue in Singapore is likely to slow because of the more cautious outlook for the VIP market over the rest of the year and because of the slowing mainland China economy, UBS said in a note. It now expects GGR this year to rise 10 percent, down from its prior forecast for a 17 percent gain. It expects growth of 4 percent in 2015, down from 6 percent previously. UBS says it sees growth in the VIP market slowing to 19 percent from its previous forecasts for 30 percent, while the mass market is likely to be largely flat, compared with prior guidance for a 4 percent gain. The 2015 VIP growth forecast has been cut to 4 percent from 7 percent, with mass likely to grow 3 percent from the firm’s prior 4 percent target. UBS says it expects Las Vegas Sands to maintain its dominant mass market share in Singapore at roughly 54-55 percent this year and in 2015, though it is lowering market share estimates for LVS in VIP to 42-43 percent from 51 percent previously.