Jennifer Song, equity analyst with Morningstar, speaks with Asia Gaming Brief managing editor Sharon Singleton about visitation to Macau during the recent Chinese New Year period and the outlook for recovery. The longer-than-usual May holiday may be a key catalyst for growth.
Macau GGR recovery will be driven by premium mass, whilst Cambodia’s gaming recovery will be driven by the VIP segment, according to analysts at Colliers International.
Cambodia and Macau are expected to lead the recovery in Asia-Pacific gaming this year, trailed by Singapore and the Philippines, according to a report from Colliers International. Cambodia's gross gambling revenue may hit 60 percent of its pre-Covid base.
This week, we explore the findings of the recently released Pacific Asia Travel Association (PATA)'s Asia Pacific Visitor Forecast 2021-2023 report, which identifies three scenarios of growth and recovery for international visitor arrivals (IVAs) to and across Asia.
Major cruise lines have been pushing back their planned dates to resume sailing as the Covid-19 pandemic drags, helping to dampen a fourth-quarter rally in stocks.
Capacity expansion, Chinese exploration and concession extension are likely to lead to outperformance of Macau’s gaming stocks in the second half of this year after a sluggish start, according to analysis from Morgan Stanley.
Analysts have turned more upbeat about the prospects for Malaysia’s gambling operators, despite a recent upswing in new Covid-19 cases, saying the sector is good value as stocks are still down between 15 to 26 percent on the prior year.
Kenanga Research expects Malaysia's casino operator to rebound more swiftly than its number forecast operators, as border restrictions ease. The sector valuation remains attractive as gaming stocks were still 15-26 percent cheaper than a year ago.
Wynn Resorts CEO Matt Maddox has said the casino industry in Las Vegas could come back like in the Roaring 20's as people seek to have fun after surviving the pandemic, but warns that may take two years to happen.
It's still unknown whether Macau's gaming sector is on the path to recovery, with conflicting reports over the last month signaling both good and bad news over the medium term.