by Amruth Sundarkumar | May 24, 2023 | High Yield Bonds, Southeast Asia
S&P in a report emphasized its positive outlook on the Macao casino sector as part of its post-pandemic recovery. Macao’s gaming revenue is experiencing a more “robust recovery” than they previously anticipated. In 1Q 2023, gross gaming revenue...
by Amruth Sundarkumar | Feb 24, 2023 | High Yield Bonds, Southeast Asia
Dollar bonds of Macau casino operators like Melco and Studio City rallied by over 2 points after data showed that gambling revenues in Macau surged 82.5% YoY to MOP 11.6bn ($1.4bn) in January. This came after Macau saw about 500,000 visitor arrivals over the week-long...
by Amruth Sundarkumar | Jan 10, 2023 | High Yield Bonds
Dollar bonds of Macau’s casino operators were up by over 2 points as China stopped requiring quarantine for arrivals as part of ending its ‘Covid Zero’ policy. The easing in border comes ahead of the Lunar New Year holiday. Macau’s six...
by Amruth Sundarkumar | Aug 2, 2022 | China, Corporates
Bonds of Macau’s casino operators have risen with Studio City’s and Melco Resorts’ bonds leading the pack. This follows the decision to ease Covid-related restrictions in Macau, in force from today. This news arrives as Macau’s casinos experienced their...
by Amruth Sundarkumar | Oct 14, 2021 | Corporates, Credit Ratings
Wynn Resorts was downgraded to B+ from BB-. S&P expects Wynn’s leverage to remain very high in 2021 and potentially improve to 6.5-7x in 2022 due to a slow recovery in gaming revenue in Macau combined with travel restrictions. Wynn heavily relies on a...
