Brokerage Morgan Stanley estimates that gaming concessionaires may end this year with EBITDA shortfalls of around $800 million, when expectations were more positive at the beginning of the year. Gross revenues for the pasta segment in the first half of the year fell nearly 40 percent
The partial confinement enacted by the authorities is changing the rules of the game again regarding casino results for this year. According to a report by brokerage Morgan Stanley, quoted by the Macau News Agency portal, casinos are expected to reach the end of the year with a negative EBITDA [earnings before tax, depreciation, amortization, interest and amortization] of US$800 million.
Also read: Macau casinos subject to new Covid-19 prevention measures
Initially, the forecasts pointed to a positive EBITDA scenario of USD 991 million at the end of the year. However, the reality the gaming industry outlook has been revised downwards, with estimates pointing to declines in gaming revenues falling by around seven billion US dollars this year, down from the 11 billion US dollars of mass gaming revenues recorded last year.
