Analysts say the gambling market may fall in 2020
H2 Gambling Capital has revised its 2020 gambling market forecasts due to the COVID-19 coronavirus outbreak. Analysts believe that industry volumes will decline by 8%.
Experts note that the coronavirus has already had a major impact on gaming markets in China (including Macao and Hong Kong), Singapore, Japan and Italy, and may further affect the industry in other countries. Because of the restrictions imposed by casino regulators and operators, attendance at gambling zones and profits of establishments are falling.
At the same time analysts expect that coronavirus outbreak will positively influence the development of online segment. His share may grow from 13.4 to 14.7%, and if the disease will continue to spread actively on the planet and in the second quarter of 2020, and will exceed 15%. With restrictions on land-based establishments and health risks associated with visiting them, the number of people playing at online casinos from home will grow.
In early February, because of a coronavirus outbreak, Macau authorities closed casinos for a two-week quarantine. The government said this was necessary to avoid the spread of the disease. According to media reports, because of this, revenues of local casinos in February dropped 88% compared to the same period last year, from $3.1 billion to $386 million.