Recovery hopes in sight for South Korea’s casino sector: NH Investment
There’s light at the end of the tunnel for South Korea’s casino industry, although the recovery in the Chinese VIP market is likely to be slower-than-expected, NH Investment & Securities analyst Hazell Lee said.
Writing in Business Korea, Lee wrote that the portion of junket sales in South Korea’s foreigner-only casinos is in the low single digit range and therefore the direct earnings impact of the imposition of that sector should be minimal.
However, “there is a possibility of a delay in the recovery of sales due to the contraction in overseas gaming demand among general VIPs,” she wrote.