Good morning. Macau’s six operators have all now reported their 3Q21 earnings, revealing the impact of the latest Covid outbreaks in August and September. In this week’s Face-to-Face, Morningstar analyst Jennifer Song tells us that although not pretty, the results weren’t quite as bad as had been anticipated and she still expects strong pent-up demand when travel restrictions are finally lifted. 

What you need to know

  • Hong Kong travellers will be able to cross into Mainland China without quarantine from the first week of December, earlier than initially expected, the South China Morning Post reports.
  • Playtech, has confirmed that it has a potential third suitor after JKO Play asked the company for due diligence information to assess the terms of a takeover offer.
  • Sportradar announced 3Q21 revenue, beating analysts expectations, with strong growth across all geographies and business segments.
  • Fitch Ratings expects Aristocrat to fully recover its legacy gaming revenues to pre-pandemic levels by 2022, aided by its robust gaming business in North America. 
  • Crown Resorts has received a renewed takeover offer from U.S. private equity firm Blackstone, which is looking to acquire all shares in Crown at a price of A$12.50 cash per share.

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Your Daily Asia Gaming eBrief: Macau operators confident of pent-up demand when restrictions lift

Operators confident of pent-up demand when restrictions lift

Macau’s six operators have just finalized another earnings round, with the figures badly affected by Covid travel restrictions in 3Q21. Despite predictions that the quarter would be a washout, Morningstar analyst Jennifer Song tells us they weren’t as bad as she had expected. In this week’s Face-to-Face interview she tells us about the highlights from the results and discusses the tone of senior management on the accompanying analyst conference calls and expresses confidence there is still significant pent-up demand.

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