Moody’s predicts Asia Pacific gaming to benefit from post-Covid spending, driven by Macau’s recovery
Friday 28 de April 2023 / 12:00
⏱ 1 min read
(Macau).- Moody’s Investors Service has said that the gaming sector in the Asia Pacific region is on course to benefit from the selective spending of consumers on entertainment in the coming months after years of Covid restrictions.
In a note from the credit rating provider yesterday (Wednesday), it was predicted that the global gaming industry would see growth fueled by Macau’s recovery, which could drive growth in earnings before interest, taxation, depreciation, and amortization (EBITDA) as a result.
Moody’s forecasts that gaming industry EBITDA will jump by 20 per cent to 25 per cent over the next 12 to 18 months, compared to 17 per cent in 2022.
“The expected recovery of Macau and continued recovery of Singapore and other Southeast Asian locations are expected to show outsized growth, given the depressed levels seen since 2020,” said the financial service provider.
According to Moody’s, the gaming market in the United States, meanwhile, is expected to experience a moderation in growth after pulling off record gaming revenue in the last two years.
In contrast, China, which had previously slowed down the gaming industry’s recovery, will now have an important role to play.
“China has been a drag on the gaming recovery, but will now help the broader hospitality recovery stick for longer,” it added.
However, Moody’s has also cautioned that the “recovery tide” for general consumer spending on leisure, including casinos, is “ebbing” due to an increasingly difficult economic environment characterised by high inflation and rising interest rates.
Despite these concerns, Moody’s predicted that worldwide gaming sector performance would exceed pre-pandemic levels for the first time in 2024.
By Aries Un
Categoría:Gaming
Tags: Sin tags
País: Macao
Región: Asia
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