Casino Is BAck to Normalized
Casino Is Back to Normalized The long-awaited reopening begins Thanks to the increase in vaccination rates and the global transition to the COVID-19 pandemic, the benefits of easing social distancing regulations and lifting travel restrictions are expected to be fully reflected in the profits of casino players. As casino access is completely normalized, full-fledged earnings recovery should be confirmed. Accordingly, we maintain a positive outlook for the sector. The expected recovery of the casino industry is expected to take place in the order of 1) easing social distancing regulations (business normalization) → 2) easing restrictions on movement between countries (increasing demand for Gorollers) → 3) expanding inbound traffic (increasing general VIP and mass visitors). The Japanese government is expected to lift restrictions on cross-border movement around July, but for China, normalization is expected to be relatively delayed due to the prolonged Chinese government's zero-co