\nThe potential vaccine availability will allow destination markets like Singapore and Las Vegas to begin recovering more in earnest in the second half of 2021,” Bumazhny said. Fitch forecasts Singapore’s 2021 GGR at its two casinos to reach “only 45 percent” of 2019’s levels.<\/p>\n<\/blockquote>\n
This week, Centers for Disease Control and Prevention (CDC) Director Robert Redfield said a COVID-19 vaccine will be available in the US in the coming weeks and made widely available to the general public, “Hopefully by March.”<\/p>\n
Japan IR Odds Lengthening<\/b><\/h2>\n
Viewed as the largest market opportunity to hit the global gaming industry since Macau welcomed in new commercial casino operators nearly two decades ago, Japan continues to move forward with legalizing gambling. However, enthusiasm for the Land of the Rising Sun is waning.<\/p>\n
“Japan’s IR plans appear increasingly uncertain, as the pandemic exacerbates existing challenges, such as a high gaming tax rate, bureaucratic and regulatory hurdles, and a bribery scandal,” Bumazhny commented.<\/strong><\/p>\nLas Vegas Sands has already withdrawn its consideration for Japan, and Wynn Resorts earlier this year closed its Yokohama office. MGM Resorts, the front-runner for licensure in Osaka, also recently announced its decision to assume a substantially reduced role in investing in Japan.<\/p>\n","protected":false},"excerpt":{"rendered":"
Fitch Ratings expects casino markets that rely on local visitation to recover quicker from the COVID-19 pandemic than tourism-reliant regions such as Las Vegas and Singapore. In a note issued this week by Alex Bumazhny, the Fitch gaming analyst believes destination gaming markets will lag behind regional gaming in their coronavirus recoveries. “Gaming markets globally […]<\/p>\n","protected":false},"author":25,"featured_media":156736,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,18943],"tags":[],"acf":[],"yoast_head":"\n
Fitch Ratings Forecasting Quicker Recovery for Regional Casino Markets<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n