With overall VIP chip trading currently hovering at about 20% of pre-pandemic levels.
This is the opinion of the Hong Kong headquarters branch of financial services giant Goldman Sachs Group, following December when total gaming revenue across Macau fell 65.8% year-on-year to about $978.75 million. 카지노사이트
Financial institutions reportedly declared that SunCity Group's VIP face-to-face business is “relatively light” and “lagging” the entire Macau market, saying reservations for upcoming Chinese New Year celebrations are “relatively light.” Carrie Jiang, Simon Cheng and Alpha Wang of the bank are also quoted as saying that the junket company's post-pandemic recovery has ‘so far lagged behind expectations' that current ‘soft market conditions' have forced it to suspend operations in Australia and South Korea as well as more local rooms, including Sands China Limited's Parisian Macau property, a sub-employee of Las Vegas Sands Corporation.
“Overall, SunCity Group sees the Asian VIP gaming market taking time and gradually recovering.”
Goldman Sachs Group analysts also reportedly described SunCity Group's VIP gambler Target market as being hit hard by the closure of Macau casinos for 15 days after former Portuguese residents recorded their first coronavirus case in February. They declared that the condition eased slightly in August after local authorities began reissuing group travel and IVS (Individual Visit Plan) visas to mainland Chinese residents, but the introduction of travel bans and social distancing protocols later created a “quite cumbersome” situation to return to the city.
Despite all these difficulties, analysts have reportedly speculated that SunCity Group has “no intention” of changing its strategy to “enter overseas markets within the next two to three years” through the construction of its “own integrated resort across Asia other than Macau.” These projects are said to include Russia's ever-growing Tigre de Crystal operations in addition to the $4 billion Hoiana development in central Vietnam, where the official grand opening of the first phase was recently postponed until the second half of the year.
