Moody’s Investors Service Inc says it expects casino operators MGM Resorts International and Wynn Resorts Ltd to pursue new “large, high profile” development opportunities “around the world,” which would require “significant” investment and debt. The comments were part of updates published on Wednesday on credit issuers linked to companies with operations in Macau.
The ratings agency said it expected MGM Resorts to “actively pursue other large integrated resort [IR] development projects (e.g., Japan) that would require significant equity investment and debt to finance construction and will continue to expand its domestic operations.”
MGM Resorts and its local partner Orix remain the only qualified consortium in the request-for-proposal (RFP) process of Japan’s Osaka prefecture, concerning the metropolis’ tilt at having a casino resort.