Industry
December 2, 2022
Moody’s Is Pessimistic about US Gambling
Ratings and research firm Moody’s doesn’t buy the enthusiasm surrounding the gambling industry’s growth. On the contrary, the company has a grim forecast for the future of casino gaming. Moody’s Predicts Challenges for US Gaming Casino GGR has been experiencing continuous increase in the last few months, with the gaming industry in the USA bracing […]
Business
July 8, 2022
Moody’s Withdraws Crown Resorts Rating over Blackstone Acquisition
Credit rating agency Moody’s Investors Service has stripped Australia-based Crown Resorts Limited from its Ba3 corporate family rating (CFR), following a similar move from credit rating agency Fitch, which a few days ago also downgraded the company’s credit rating. Downgrade Resulting from Blackstone Acquisition The recent changes announced by the two major credit rating agencies […]
Industry
June 28, 2022
Moody’s Downgraded SJM’s Future Outlook to ‘Negative’
One of the six concessionaires in Macau, SJM Holdings, has seen its future outlook changed to ‘negative” by Moody’s Investors Service following a review of its ratings this week. Maintain CFR and Bond Ratings The rating agency also confirmed SJM’s Ba3 corporate family rating (CFR) and the B1 rating on the senior unsecured bonds issued […]
Industry
July 13, 2021
MGM’s Strip Sales and CityCenter Purchase Credit Negative
A recent report released by a top credit rating agency is warning investors about potentially increased risks from contingent lease obligations following a sale-leaseback scheme. Increased Credit Risk The report issued by Moody’s Investor Service considers the sale of the real estates of Aria and Vdara casino resorts on the Las Vegas Strip by MGM […]
Industry
December 3, 2020
Atlantic City’s Rating by Moody’s Remains at Ba3, Outlook Shifts to Positive
Moody’s has put on hold the issuer’s rating of Atlantic City due to the unstable economic situation, increased governance and social risk, as well as income inequality. Despite the ongoing challenges, its outlook has been improved due to the city’s casino property taxes programme, the growth in online gambling and the city’s continued efforts for […]
Casino
June 29, 2020
Moody’s Warn of Long and Precarious Recovery for Asia-Pacific Gaming
Financial services firm Moody’s has cautioned that the recovery of the gaming industry in the Asia-Pacific region will be long and uncertain, as a second wave of the pandemic may upset progress so far. Asia-Pacific’s Recovery to Be Long, Says Moody’s The Asia-Pacific region will see a further decline, says credit rating firm Moody’s which […]
Business
April 23, 2020
Moody’s: Mergers And Acquisitions Is the Future of the Gambling Industry
The ongoing merger between Flutter Entertainment and The Stars Group /TSG/ has a real chance to make the decisive step towards completion this week, after on Tuesday the shareholders of the Irish-based gaming operator have almost unanimously approved the deal, and the stock holders of the Toronto-headquartered company will have their say Friday, April 24. […]