Macau's VIP market won't fully recovery any time in the foreseeable future and gross gambling revenue in 2023 is still expected to be lower than the levels of 2015, Bernstein Research said in a note.
The indicators are lining up and pointing to a positive future for Macau, however, without the improvement of visa processing in China, the recovery is likely to continue at its current steady pace.
Singapore's Prime Minister Lee Hsien Loong said he believes it will take several years to return to normal after Covid-19 and travel is likely to take another two years to fully recover.
The COVID-19 pandemic has left the global gaming industry bruised and maimed and there are five key factors to suggest the recovery may face significant headwinds. By Sudhir H. Kalé, Ph.D.
Aristocrat has introduced Aristocrat Assist – a global program designed to help its customers through the journey to recovery. This program was designed to...
While the green shoots of recovery are still far from becoming a forest, the raft of earnings reports from Asia’s operators on Tuesday all gave grounds for optimism that recovery is taking root.
Almost as soon as the world was plunged into the Covid-19 pandemic, many voices within the Asian gaming industry began talking about “recovery” and mapping exit strategies back to financial health.
On an earnings conference call last Thursday, Wynn Resorts Chief Executive Officer Matt Maddox made clear his firm’s view that the golden age of Macau junkets has definitively passed, and it is not likely to return as the Covid-19 pandemic subsides.
Summit Ascent Holdings, the operator of the Tigre de Cristal, said slot handle in the two and a half months of the quarter its resort was open exceeded pre-pandemic levels at 103 percent, while mass drop was 96 percent of pre-closure levels. VIP was affected by closed borders.
SJM Holdings reported a loss attributable to shareholders of HK$1.03 billion ($132.8 million) in Q3, compared with a profit of $738 million a year earlier, but said it has seen signs of a pick up towards the end of the quarter.