Heavy investment is keeping leverage high for major operators, even as Fitch maintains a positive view of the wider sector.
Key takeaways:
- Heavy capital spending and slower-than-expected earnings growth are keeping debt elevated among several Asia-Pacific gaming operators, Fitch notes in a new report
- The report comes after Genting Bhd and Genting Malaysia were downgraded to BBB-, SJM Holdings to B+ and Universal Entertainment to CCC+
A new report from Fitch highlights that Asia-Pacific gaming operators are carrying higher debt for longer as revenue growth fails to keep pace with major capital commitments. The report, APAC Gaming – Peer Credit Analysis, follows downgrades for several key market players,…