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Synectics warns on revenue as Covid-19 hurts global casino industry

By BFN News | 10:00 AM | Tuesday 29 September, 2020


Security and surveillance system supplier Synectics warned that its revenue in the second half was likely to be lower than in the first, due to a sluggish recovery in the global casino and gambling market. Synectics said the pandemic had continued to hurt what was its largest market sector, with a recovery now unlikely to take place as previously expected. Trading and forecasts in other sectors of the group's business had, in aggregate, remained largely in line with previous expectations. 'The company had expected that easing of travel restrictions and the re-opening in early summer of casinos in the US and Asia would result in some recovery during the second half of this year,' Synectics said. 'However, it has become increasingly evident that the vast majority of planned surveillance system projects and upgrades in this sector will now be delayed beyond 2020.' At 10:00am: (LON:SNX) Synectics Plc share price was -17.5p at 112.5p Story provided by StockMarketWire.com

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