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The gaming sector has materially outperformed other recreational industries in the U.S. since Q3 of last year and that trend has accelerated into 2021, analysts from Deutsche Bank note.
Reef Casino Trust said rental income from its property of the same name in Queensland was higher than in 2019 and it also expects May to be a strong month.
Maybank has cut its earnings forecasts for Genting Singapore by 59 percent this year due to the slower-than-expected recovery and ongoing closures in key markets.
Genting Singapore has reported a 2 percent increase in casino sales from the final quarter of last year, indicating the pent-up demand that had been driving recovery has largely stalled.
Melco Resorts & Entertainment executives say they remain upbeat about the recovery in Macau and say the mass business is likely to hit 2019 level by the end of the year.
Melco Resorts & Entertainment is unlikely to return to its pre-pandemic revenue levels before 2023, but when it does its margins are likely to be better due to a higher proportion of mass-market players, according to Moody’s Investors Service.
Macau will lead the recovery in Asia this year, while Singapore needs international flights to resume to gain further impetus, executives from Las Vegas Sands told investors on the company’s earnings call.
A full recovery in Macau could be delayed until 2023 as the slow rollout of vaccines prevents a significant easing of travel restrictions, Union Gaming writes.
Macau’s Q1 gross gambling revenue breakdown clearly shows the mass market pulling ahead of the VIP sector, which is struggling to recover from the double-whammy of Covid and policy pressures in China.
SkyCity Entertainment's earnings are recovering faster-than-expected from the Covid crisis, said Standard & Poors in a note raising its credit outlook to stable from negative.
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