Singapore hits plateau, few growth drivers seen

    Published in: Latest IntelligenceSingapore took less than five years to catapult itself to the third spot in the global gambling industry, but that heady early growth now seems to have hit a plateau with few new drivers for growth expected in the short term.Strict government regulation, limited real estate and other resources, cautious economic sentiment, and newly developing regional rivals threaten to stall industry growth in the coming years.“The outlook for the industry in Singapore remains cautious,”  Lucius Jesudason Chong, an analyst at CIMB Research, says. “Government regulation is still the major deciding factor in the growth prospects of the industry.”The government tightened legislation last year, with amendments to the country’s Casino Control Act that include an increase in the maximum financial penalty that casino operators may face, from S$1 million ($800,000) up to 10 percent of annual gross gaming revenue for breaches of regulations.This indicates the government’s...

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