While Australia’s casino operators have suffered from lower spending by Asian high-roller gamblers, analysts see potential VIP recovery in the 2020 financial year.
In a report from Sydney Morning Herald, analysts from Macquarie Wealth Management said while they have an overall bearish view on the VIP market, they have observed a “U-turn” in mainland Chinese sentiment “which we see flowing into VIP confidence and driving an uptick in volumes.”
“We now include a VIP recovery in the financial year 2020. While we remain cautious on [19H2] VIP volumes, with our view that Macau VIP bottoms in the June 2019 quarter, we are optimistic and now forecast a recovery,” said the analysts.
Source: Asia Gaming Brief
