Land-based gaming in Asia back on track after a turbulent 2020

Posted: Mar 17, 2021 12:01 Category: Asia , Land-Based ,

The gaming industry is slowly getting back to normal as casinos in Asia start reopening and boast revenue spikes

After a turbulent 2020 for the land-based industry due to the COVID-19 pandemic forcing mass closures of gambling venues worldwide, the Asian industry soars as casinos in Seoul resume work after months of closure, and the average daily rate (ADR) of Macau’s gambling revenue rose 6% for the second week of March.

Grand Korea Leisure Co, the sole foreign casino in South Korea, has opened its doors after months of closure at the hands of the pandemic. The government has granted public casinos to reopen at 20% capacity to mitigate the spread of COVID-19.

According to GGRAsia, Seven Luck casino in Gangnam district has reopened with a 185 daily capacity, while Gangbuk Hilton will allow 148 guests. While this is well below usual capacity, this is a massive set forward for the land-based industry.

Macau’s gambling revenue has reached $34m for the week of 8-14 March, according to Sanford C. Bernstein Ltd. This is a 6% growth in comparison to the week prior, hinting towards a recovery for the casino market in the area. The decrease in revenue was contributed to the travel restrictions, particularly from China, which greatly affected Macau.

JP Morgan analysts on the estimated Macau Gross Gaming Revenue (GGR) shared:

We expect GGR to keep improving sequentially starting March (MOP260m to MOP270m per day) into May (MOP350m to MOP370m per day)

Source: The Gambling Insider

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