The attention of investors has been focused on the reduction of casino revenues at a rapid rate in Macau for 2015, Singapore has also been affected by the anti-corruption draft of China. In Singapore, the gross gaming revenues fell more than 10pc to $4.8bn for 2015 with analysts expecting revenues to fall even further as 2016 begins.

Singapore is the third largest gambling destination in the world, when you are considering revenues, as the area is home to the Resorts World Sentosa and the Marina Bay Sands. Singapore is behind only by Macau and Las Vegas in terms of gambling revenues. However, the two properties can only be of benefit to the market for so long as the venues become dated to visitors.

Back in 2007, Genting Singapore and the Las Vegas Sands were given casino licenses to operate in Singapore, a time period of licensing that will end in 2017. The government has stated that it is not likely they will be granting new licensing after this time frame.

According to analyst group Fitch Ratings, it looks as if a duopolistic market will continue as the government is concerned that new casinos will negatively affect the residents of Singapore, thus seeing an increase of problem gambling. Fitch believes that the framework of the highly regulated industry is creating operating conditions that are difficult in Singapore.

Analysts of Morgan Stanley have noted that the appreciation of the dollar in Singapore when compared to the currencies of Southeast Asia has impacted the spending of tourists, the visitors of casinos. Morgan Stanley has the local currency estimated at a 5pc higher rate year-on-year by the 2016 third quarter. The analysts agree that Singapore will have a weaker economy for 2016 as tourism faced the very first annual decline in a six year time frame for 2015.

This is attributed to the lower number of tourists from China as well as the stronger Singapore dollar. It is believed that spending at the VIP gaming tables will also remain down based on the anti-corruption draft being led by Beijing, where gamblers are being turned away from Singapore and Macau.