Crown Resorts on Monday reported a normalized EBITDA of approximately A$500 million (US$321.6 million) for the period from 1 July 2019 to 23 March 2020, the latter date being the time the company ceased gaming activities and other non-essential services at its Melbourne and Perth locations.
Normalized net profit after tax (NPAT) was approximately A$210 million in the period.
With three more months until the end of the 2020 financial year, JP Morgan analysts estimate Crown Resorts’ revenue to fall 29.5 percent year-on-year in FY20, reaching A$2.2 billion.
EBITDA is estimated to fall 37.6 percent to A$500.5 million, while normalized NPAT is expected to fall 61.6 percent to A$143.2 million.
This Dossier results from the “Life After POGOs” editorial project by Asia Gaming Brief which culminated with a pop-up digital forum on 9th December to discuss potentials ramifications in the industry.
SimplePlay is going to celebrate Christmas with its clients by giving out free spins to their players! From 21 December, the slot provider will be giving out a total of more than 80,000 Free Spins to players round-the-clock for 7 days.
Analysts have turned more upbeat about the prospects for Malaysia’s gambling operators, despite a recent upswing in new Covid-19 cases, saying the sector is good value as stocks are still down between 15 to 26 percent on the prior year.
Over the years, many of the answers have been remarkably prescient in their forecasts for the near-term direction of Asia’s gaming industry. However, we can safely say that no one came anywhere close to guessing
what 2020 may have had in store.
While nowhere in the world has escaped the economic fallout from the Covid-19 crisis, Macau has been hit harder than most, with forecasts for gross domestic product to shrink more than 50 percent this year.