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GGRAsia – Melco Resorts 2021 revenue likely 50pct of 2019: Moody s

Casino operator Melco Resorts and Entertainment Ltd could see its 2021 revenue recover to 50 percent of 2019 levels, says a Thursday note from Moody’s Investors Service Inc. This would probably be “driven by a faster recovery in the mass-market segment than the VIP segment,” said analysts Sean Hwang, Gloria Tsuen, and Keun Woo Park. Melco Resorts’ key market is Macau, where it runs the City of Dreams and Studio City resorts on Cotai, and Altira in Taipa. It also runs the City of Dreams Manila casino resort in the Philippine capital, and has gaming operations in the Republic of Cyprus. Recently-issued Macau government data on the structure of the gaming market in the first quarter, showed that mass-market games – including slot machines – provided 61.4 percent of all Macau’s casino gross gaming revenue (GGR), at MOP14.51 billion (US$1.82 billion).

GGRAsia – Mohegan to cut debt/EBITDA soon says Moody s

United States-based Mohegan Tribal Gaming Authority, which controls casino operator Mohegan Gaming and Entertainment, is likely to be able to reduce its ratio of debt-to-earnings before interest, taxation, depreciation and amortisation (EBITDA) by the end of fiscal-year 2021, says Moody’s Investors Service Inc. But the institution added that the parent would in likelihood still have a level of leverage that leaves it with “a high degree of financial risk”. Mohegan Gaming is the promoter of an under-development casino resort called Inspire Entertainment Resort, in South Korea. Moody’s added: “This risk is compounded by our expectation that there will be continued ongoing operational challenges and earnings and cash flow pressure from efforts to contain the coronavirus, and that there will be a slow recovery to pre-coronavirus volume.”

GGRAsia – Casino cities embrace online play or lose out: experts

GGRAsia – Casino cities embrace online play or lose out: experts
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GGRAsia – Moody s expects MGM, Wynn to pursue large IR development

GGRAsia – Moody s expects MGM, Wynn to pursue large IR development
ggrasia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ggrasia.com Daily Mail and Mail on Sunday newspapers.

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