Recovery for gaming seen in 2022

TheStar Thu, Aug 05, 2021 09:00am - 2 years View Original

UOBKH said the casino sub sector is poised for an eventual comeback beyond a “desolate second quarter” this year. UOBKH said the casino sub sector is poised for an eventual comeback beyond a “desolate second quarter” this year. “Before Genting Malaysia stages a sharp financial turnaround in the fourth quarter of 2021 it is expected to post a RM400mil loss in the second quarter, with Resorts World Genting being forced to close again since May 26, 2021 due to the government’s nationwide lockdown.

KUALA LUMPUR: Gaming companies are expected to announce lackluster earnings in the upcoming corporate results season, due to operations being disrupted by the nationwide lockdown to curb the Covid-19 pandemic.

Nevertheless, the accelerating pace of the nation’s vaccination programme is expected to generate meaningful capital appreciation for gaming companies by 2022, said UOB Kay Hian (UOBKH).

“The gaming sector is a main beneficiary to the upcoming economic reopening as the pandemic eases, taking cue from the recoveries in the United States and the United Kingdom after mass dispensation of Covid-19 vaccines there.

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