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Here are today's headlines in the world of gambling and sports betting as they happen - Monday March 30, 2020.
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Asia Casino Visits Could Drop by 60-80% in 2020 First Half
S&P Global Ratings bleak report Friday estimated casino visits in the Asia-Pacific casino market could drop by 60-80% in the first half due to the coronavirus pandemic resulting in temporary closures.
“This is exacerbating weak consumer sentiment and leading to negative cash flows. Gaming equipment makers and lottery/betting operators are experiencing similar pain from the temporary closure of venues,” it said, as reported by BusinessWorld.
“We expect profitability to fall faster than revenue for casino operators because of: (1) their minimum operating expenses; and (2) a faster decline in higher-margin mass-market than for the “VIP” (or high-roller) segment,” the credit rater said.
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- Aaron Goldstein, Gambling911.com
