INSIGHT - ASIA


We are anticipating that governments will take a phased approach to re-opening Macau borders. First, maybe Guangdong province and then, depending on the success of that — customers from other more distant regions in China will be allowed to travel to Macau.


Business certainly will not return to pre-virus levels. Companies that have smaller operations as opposed to those large big box properties may be better positioned to emerge from the virus on a more successful basis due to the latter’s higher fixed costs bigger operating profile. Also, increased automation will be critical component of any post COVID19


business plan. So, we expect to see expedited technology put in place that allows for self- check in, more room service, reduced interaction with casino gaming staff, etc.


I am not saying we are at the stage of robot dealers yet, but we are certainly getting closer.


What about the impact COVID19 has had on other markets in the region?


COVID19 is a black swan for tourism and entertainment related businesses. Any company that requires assembling large groups of people in close proximity as part of their


business plan has been affected.


Terefore operating sustainably post COVID19 will entail putting in place mitigation procedures that require social distancing thereby limiting the amount of customers and sales that can be generated.


So unless companies double their prices or can figure out a way to move some of their operations online, it will be very difficult to return to pre-COVID19 levels. Perhaps Macau will be less affected than Las Vegas, but certainly every company will experience some level of pain from the COVID19 pandemic.


NEWSWIRE / INTERACTIVE / MARKET DATA P47


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