Wednesday, April 1, 2020
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Covid-19 turns out lights in most of Asia’s casinos

From India to Australia, casinos across the Asia Pacific region have closed their doors in response to efforts to combat the spread of the coronavirus, with little to no visibility at present as to the evolution of the situation.

Singapore casinos tighten entry requirements

Singapore’s two integrated resorts have restricted public access to the casinos to prevent the spread of the coronavirus.

Moody’s sees downgrade risk for LVS

Moody’s has placed the ratings of Las Vegas Sands on review for a downgrade given the steep drop in gaming revenue at its Macau and Singapore operations as a result of the coronavirus.
Resorts World Sentosa

Genting Singapore execs agree pay cuts, Genting Malaysia closes property

Genting Singapore said its executives and senior management have agreed to pay cuts to help to offset the impact of the coronavirus on its earnings, which it warns is likely to be significant.
China Stocks

Nerves of steel and a long-term view needed for stock investors

Asia’s gaming stocks have been pummelled by the outbreak of the coronavirus, but with signs China may be bringing the disease under control, is it nearing the time to re-enter the market?

Genting Singapore switches to half-yearly reporting

Genting Singapore has announced it will no longer be reporting its financial results on a quarterly basis, following changes to the listing rules of...

IRs to get tax break for 2020, but higher entry levy stays

Singapore’s government has granted tax breaks and other incentives to the industry to help offset the impact of the Covid-19 virus on travel, though has chosen not to reduce its entry levy for locals. 

Singapore IRs step up virus prevention measures

Singapore’s two integrated resorts have stepped up precautionary measures to limit the spread of the coronavirus, whilst rolling out promotions to draw more local...

Economic toll deepens, but underlying optimism intact

The Coronavirus, now renamed as Covid-19, has devastated the near-term outlook for Asia’s casino operators, though analysts still expect demand to snap back sharply once the outbreak is under control. The big question is when that might be.

Genting Singapore “pessimistic” as it reports 9 percent decline in 2019 profits

Genting Singapore declared itself “pessimistic” about the coming months under business impact of the Covid-19 outbreak in China, as it announced full year financial...

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Australia casinos expected to join global closures this week: JPM

Australia’s casinos are expected to be forced to close their doors later this week, prompting analysts at JP Morgan to slash their earnings forecasts for the operators.

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