Although it might be too early to conclude the state of Asian gambling industry, the casino earnings report indicated a fast recovery for the region. The coronavirus caused massive damage to gambling operators. Thus, sportsbook PPH analysts initially estimated that the industry would need at least three years to recover.
However, the recent earnings report showed that things might be turning around much faster. There’s a slight chance that casinos in the continent could rebound soon than the initial expectation.
Based on the sports betting solution reports, casino operators can be optimistic about their recovery chances. According to Galaxy Entertainment, they produced positive earnings before interest, taxes, depreciation, and amortization in October. Also, they expect November to be on the right track.
Asian Casino Earnings Report
According to sportsbook pay per head experts, Galaxy has the best position to weather the pandemic’s damages. Also, it has a good recovery due to its premium player base. They added that the whole Asian casino industry can adapt to the new normal better than other casino markets.
Insider observers want to see the current casino restrictions relaxed in Macau and other Asian countries. Also, Macau’s Individual Visit Scheme can be a good source of income for the city. There are ongoing policy changes that would make it easier to travel to and from Macau.
Aside from Galaxy, Bloomberry Resorts showed resilience during the pandemic. Its EBITDA was close to breaking even. Also, it showed strong potential in the Philippines. Bloomberry is the operator of the Solaire Resort and Casino in the country.
The strict health restrictions in the Philippines led to lower profits for casinos. However, Bloomberry still reported positive net revenue for the third quarter of 2020. It was a huge rebound to its performance earlier in the year.
Kangwon Land and Paradise Co. reported improvements in their profits. Their casinos in South Korea are showing signs of recovery after being shut down due to the coronavirus.