The outlook for Asia Pacific’s gaming industry remains challenging next year, with a return to full visitation and pre-pandemic revenues not seen until at least 2023 or 2024, Fitch Ratings forecasts.
In its 2022 outlook for global gaming, the credit rating firm also noted that jurisdictions that rely heavily on inbound Chinese visitation will be particular laggards, as Beijing is not expected to move away from its zero-Covid policy and its borders will remain closed.
In addition, there is likely to be considerable near-term volatility due to strict health codes around the region.
The firm said most of the gaming companies it rates have been taken off the “negative outlook” list, with those remaining predominantly in Asia.
In Asia Pacific, the report focuses on Macau, Australia, Singapore and Malaysia.
Fitch says there is potential for Macau to outperform next year due to pent up demand and because travel visas to the gambling hub aren’t an issue as long as there are no local Covid cases.
Source: Asia Gaming Brief