According to Moody’s, there will be a long-rebound period for the Asia-Pacific gambling industry after the coronavirus pandemic. The credit rating company expects earnings in Singapore, Macau, and other parts of the region to remain depressed.
Macau casinos are still closed, and their revenue dropped by 90 percent for three straight months. Also, China doesn’t allow travelers to cross the border of the territory. As a result, Macau does not have many visitors in recent months.
On the other hand, air travel bookings are up for Las Vegas. There are more than 330 flights booked daily for the US gambling capital. Thus, software sportsbook analysts expect the Asia-Pacific gambling industry to rebound in the first half of 2021. However, it will not have a full recovery during that year.
Asia-Pacific Gambling Industry
Most gambling firms operating in the Asia-Pacific region will lose value before climbing up again. However, there’s a silver lining in Moody’s prediction. It showed that the industry would recover its earning by the second half of the year.
In 2021, things will pick up further. However, investors should not expect things to catch up to levels before the pandemic. However, the recovery can be disrupted due to the second wave of the coronavirus pandemic in the region.
The best sportsbook PPH said that Macau had to close its casinos in February and hasn’t recovered yet. It blames the slow recovery to the air travel ban and the closed borders. Thus, gaming rooms in the territory had to lay off workers.
In Singapore, Resorts World Sentosa and Marina Bay Sands had closed and has since reopened at reduced capacity. Other nations in the region imposed strict restrictions as well. Australia and Malaysia limited air travel. Also, they imposed restrictions on casinos.
The Philippines suspended operations of the offshore gambling industry. Also, there’s a decline in tourism as the government implemented measures to prevent the spread of COVID-19.