April 23, 2020 / 3:44 PM / a month ago

BRIEF-Moody's Says U.S. Gaming Forecast Cut Again As Scope Of Coronavirus-Related Strains Emerge Amid Weakening U.S. Economic Environment

April 23 (Reuters) - Moody’s:

* MOODY’S SAYS U.S. GAMING FORECAST CUT AGAIN AS SCOPE OF CORONAVIRUS-RELATED STRAINS EMERGE AMID WEAKENING U.S. ECONOMIC ENVIRONMENT

* MOODY’S, ON U.S. GAMING INDUSTRY, SAYS EXPECT EBITDA TO PLUNGE 60% TO 70% FOR 12 MONTHS THROUGH MARCH 2021

* MOODY’S, ON U.S. GAMING INDUSTRY, SAYS SEE EBITDA DECLINE TO BE EVEN MORE SEVERE IN 2020, LED BY SEVERE DROP IN Q2 WHEN INDUSTRY EBITDA TO LIKELY BE NEGATIVE

* MOODY’S, ON U.S. GAMING INDUSTRY, SAYS WILL TAKE LITTLE MORE THAN 18 MONTHS FOR INDUSTRY TO GET BACK TO GENERATING JUST 60%, ROUGHLY, OF 2019 LEVELS

* MOODY’S, ON U.S. GAMING INDUSTRY, SAYS PROTRACTED TRAVEL CONCERNS ALSO SUGGEST THAT REGIONAL OPERATORS WILL LIKELY REBOUND BEFORE THE LAS VEGAS STRIP

* MOODY’S, ON U.S. GAMING INDUSTRY, SAYS EXPECTS CONDITIONS WILL IMPROVE IN H2 OF YEAR, BASED ON ASSUMED REOPENING OF FACILITIES AROUND BEGINNING OF Q3 Source text for Eikon:

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