Business
January 24, 2023
Aristocrat Poised for Strategic M&A Deals According to Fitch Ratings
Fitch Ratings has recently evaluated the creditworthiness of Aristocrat Leisure, affirming their Long-Term Issuer Default Rating at “BBB-“. The outlook on the rating is stable. Sound Balance Sheet Will Enable Aristocrat to Pursue M&A Deals The positive assessment is based on Aristocrat’s strong business profile as a global gaming supplier and low gross leverage. The […]
Business
July 6, 2022
Fitch Lowers Crown’s Rating Post-Blackstone Takeover
Crown Resorts, Australia’s largest gaming operator, recently sold its business to The Blackstone Group, a real estate and private equity firm. As a result, Fitch Ratings, a major rating agency, downgraded its rating of Crown’s business. Fitch Changed Its Ratings Soon after Blackstone completed the deal, Fitch lowered Crown Resorts’ Issuer Default Rating from BBB […]
Casino
June 1, 2022
Crown Resorts Financial Profile to Remain Fairly Intact by VGCCC Penalty
The close-to-$60 million (AU$80 million) fine that was slapped on Crown Melbourne in Australia is not very likely to have an immediate negative bearing on the property’s financial results. Following the issuance of the penalty by the Victorian Gambling and Casino Control Commission or VGCCC for its acronym, credit rating agency Fitch looked into the […]
Casino
April 28, 2022
Fitch Happy with Aristocrat Financials as M&As Continue
Rating agency Fitch is confident that Aristocrat Leisure Limited will continue to invest heavily in the mergers and acquisitions (M&A) segment with the company tipped to spend as much as AU$100 million ($71 million) annually in order to maintain its momentum and add valuable assets that will consolidate its standing in the land-based and digital […]
Industry
April 13, 2022
Fitch Moderately Optimistic about Scientific Games Lottery Business
Scientific Games received a “B” default mark from Fitch Ratings on Tuesday with the credit rating company assessing the value of Light & Wonder’s lottery business. Scientific Games demerged from the rebranded Light & Wonder to pursue lottery operations on its own and is now run by Brookfield Business Partners in what was a $6-billion […]
Business
October 15, 2020
Fitch: Las Vegas Faces a Prolonged Way to Recovery
Fitch Ratings published a gambling industry research Wednesday, claiming regional casinos are bouncing back and gradually heading towards pre-closure levels. The rating agency noted, though, that for Las Vegas the road to recovery would be slow, projecting 2024 as the year the gambling Mecca would reach its 2019 revenue levels. Reliance on Convention, Tourism and […]
