Bank of America has expressed doubts about Las Vegas Sands’ ability to offload its casino assets given a dearth of potential buyers due to the pandemic. The bank says there is a very small pool of buyers able to make a $6 billion acquisition and at the moment access to capital market finance is also less favourable.
Some analysts see LVS using a REIT model similar to the one MGM used to sell off some of its assets.
This Dossier results from the “Life After POGOs” editorial project by Asia Gaming Brief which culminated with a pop-up digital forum on 9th December to discuss potentials ramifications in the industry.
Macau Chief Executive Ho Iat Seng said Sunday that the Covid-19 pandemic has further delayed legislative works for revising the local gaming law and extending the current gaming concessions was just one of many options being considered.
Over the years, many of the answers have been remarkably prescient in their forecasts for the near-term direction of Asia’s gaming industry. However, we can safely say that no one came anywhere close to guessing
what 2020 may have had in store.
While nowhere in the world has escaped the economic fallout from the Covid-19 crisis, Macau has been hit harder than most, with forecasts for gross domestic product to shrink more than 50 percent this year.