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 […]
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 […]
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 […]
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 […]
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 […]
