According to BBC，The Walt 188bet Company in the United States will stop paying the salaries of 100,000 employees starting this week，Save 0 million per month，Overcoming the difficulties of widespread business closures caused by the new coronavirus epidemic。Company said，The original medical insurance premiums will still be paid for this group of employees，Encourage U.S. employees to apply for relief related to the trillion fiscal stimulus package passed by Congress。

According to disclosure，As early as April 10th local time，188bet enters into a 364-day credit agreement with Citibank，Up to billion，There are currently a total of 172.US0 million credit agreement available。Concurrent debt issuance of more than US billion。

This salary suspension plan includes all 188bet business departments，The management also accepted the salary cut。Proposed by CNBC media researcher Julia，Compared to other media giants Comcast and AT in the US market&T，Theme parks and resorts account for 35% of 188bet’s financial structure，Profit accounts for 45%，In comparison，Comcast only accounts for 5% of its revenue from parks such as Universal Studios.4%，AT&T does not have any theme parks，And these two companies have advantages in the mobile and broadband sectors，respectively accounted for 18% of its revenue last year、44%。

mentioned by CITIC Construction Investment，In terms of 188bet’s business structure，Whether it is measures to maintain social distance or avoid group activities，Almost brought its main business sectors to a complete standstill。

Under the epidemic，Monday，UBS and Credit Suisse downgrade 188bet to neutral。UBS analyst John Hodulik points to theme parks as biggest reason for rating revisions。Credit Suisse’s Douglas Mitchelson optimistic 188bet theme parks will reopen this summer，Shanghai Disneyland may be the first to open。But park operations are expected to take three years to recover，And in the second half，He expects revenue to be only 30% of peak。

April 15th local time，Streaming company Netflix is ​​worth more than 188bet，Reached US7.3 billion，188bet’s current market capitalization is US6.6 billion。

188bet is already actively deploying streaming media。It was announced recently，The number of users of the streaming media platform 188bet+ has reached 50 million since its launch in November，Exceeding market expectations，Nearly double the number compared to February。In addition to the benefits brought by the epidemic，Mainly starting from March, 188bet+ will be launched in European countries such as Britain, France, Germany, Italy, Spain, and India，Officially begins the pace of globalization。

Lei Juncheng, an analyst at Tianfeng Securities, thinks，“Content is king” is the core of the competitive landscape of streaming media，Strong barriers to 188bet’s existing IP library，It is even more valuable now that new content is scarce，The huge international influence of IP represented by Marvel + Pixar Animation is its biggest weapon in expanding its overseas territory。Benefit from streaming growth，It is expected to recover from the epidemic faster，Optimistic about 188bet’s long-term value。

*Source of this article: Financial Associated Press, author: Zhang Heyi, original title:《188bet can’t bear it anymore: it stopped paying 100,000 employees’ salaries and was downgraded by two major investment banks》.