Genting's VIP business feared to sink into the red as bad debt provisions surge

VIP volumes will decline by 35%.

There was a time when high-rolling gamblers provided Genting its bread and butter. But after several difficult quarters, it is apparent that those good times are now a thing of the past.

According to Macquarie Securities, Genting's VIP segment is expected to run into losses in 2015 and 2016, with VIP volume feared to decline by a steep 35%.

Macquarie expects Genting's bad debt provisions to balloon to $300m in 2015 and 2016, up from just $262m in 2014 and $184m in 2013.

Macquarie also expects further declines in the group's non-gaming revenue and forecasts only a modest growth in the group's mass-market segment.

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