MACAU GAMING REVENUE COLLAPSES 87.8% IN FEBRUARY | WHAT REALLY HAPPENED X-Frame-Options: DENY X-Frame-Options: SAMEORIGIN

MACAU GAMING REVENUE COLLAPSES 87.8% IN FEBRUARY

Analysts continue to see the near-term outlook as “murky”. JP Morgan estimates a 24% decrease in gross gaming revenue for the year, based on a 70% drop in March and a 35% decline in the second quarter.

The same analysts said in a March 1 note: “We do not think COVID-19 will curb gamblers’ enthusiasm in a sustainable way, so its impact on the industry’s sustainable earnings power should be limited.”

It continued: “Looking at the glass half-full, we feel it could have been worse given the extensive level of disruption suffered.”

Yeah, good thinking. After all, revenues could have been down 100%.

Tyler Durden

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