The declaration came on the same day gaming stock prices crumbled Thursday, along with the rest of the market, during a massive sell-off that saw the Dow fall more than 1,800 points and the Nasdaq drop 527 points.
In a statement, Fitch gaming analyst Alex Bumazhny said the casino industry will experience a “U-shaped” recovery following “considerable” revenue declines in 2020. Fitch analysts expect U.S. regional markets to see revenues fall 30% in 2020 while the Las Vegas Strip will be down 45%. The declines will taper off somewhat in 2021.
