Crown Resorts is in danger of being forced to repay more than A$175 million (US$135 million) if credit ratings agencies continue to mark down the casino empire. A junk, or “below investment grade,” rating would also make it harder and more expensive for Crown to borrow money.
The world is bouncing back, or at least coming to grips with the fact that going forward not much will be the same as before. Commendably, this industry quickly understood the need to adapt to a new normal, and that the days of targeting the low hanging fruit of the VIP sector are gone.
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.