Casinos to see ‘all-time high’ revenue in Q2

The casino sector is slated to see an “all-time high” in earnings in the second quarter, according to JP Morgan Securities (Asia Pacific) Ltd. As cited in a GGRAsia report, the institution estimated that the sector-wide EBITDA margin peaked at 26% during the period. Citing the brokerage’s figures, second-quarter EBITDA were likely to stand at USD1.7 billion, 47% more than those recorded in the first three months of the year. “The quarter should not only drive continued beat-and-raises [by investment analysts], but also please investors with an all-time high margin – 26% versus a historical peak of 24% – thanks to a mix of improvements and cost savings,” analysts DS Kim and Mufan Shi have noted.