Moody’s: hotels, gaming & leisure to see most defaults in 2021
After a dire 2020, things look little better for the gaming industry in 2021 according to a report by Moody’s Investors Service.
US.- A report from Moody’s Investors Service has concluded that business services and hotel, gaming and leisure sectors expected to see the most defaults in 2021.
The group sees these as the most troubled sectors as the Covid-19 pandemic continues to cause state lockdowns, reduced capacity restrictions and a decline in tourism.
Despite the bleak outlook, Moody’s predicts that casinos and restaurants are likely to bounce back quicker than hotel chains and holiday cruise companies.
The report reads: “In terms of gaming and restaurants, they have probably weathered the worst of the pandemic. Nevertheless, they still face risks, such as possible additional closures and more restrictive capacity constraints.”
Meanwhile, a report by Morgan Stanley Research predicts that a further 12 states in the US will legalise sports betting by the end of 2021 in order to compensate for lost revenues due to the Covid-19 pandemic.
