ID :
147868
Fri, 10/29/2010 - 03:11
Auther :
Shortlink :
https://oananews.org//node/147868
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ASIA-PACIFIC GAMING OPERATORS ARE ON A WINNING STREAK, SAYS S&P REPORT
KUALA LUMPUR, Oct 28 (Bernama) -- The performance of casino operators in the
Asia-Pacific region has been strong, to date, in 2010.
Going forward, the steadily growing Chinese economy, resilient regional
markets with an expanding middle class, and an improving global economy will
support the performance of operators in the region.
That's according to an industry report card titled, "Robust Growth And
Resilient Markets Pave The Way For Casino Operators' Sturdy Performance In
Asia-Pacific," published by Standard & Poor's Ratings Services today.
"Gaming operators in Asia-Pacific have strongly benefited from robust
economic growth and the resilience of markets in the region," said Standard &
Poor's credit analyst, Allan Redimerio.
This is in sharp contrast to operators in other major regions, such as North
America, that continue to face pressures stemming from weak economic activity in
those regions, he said.
He also said Standard & Poor's expects the performance of casino operators
in the region to remain stable for the next 12 months.
According to the report card, the gaming market in Macau has maintained its
strong growth momentum since the second half of 2009, with gross gaming revenue
growth in 2010 likely to exceed Standard & Poor's expectation of 15 per cent.
Singapore's foray into the gaming industry has increased the size of the
market, and the performance of the country's two new integrated resorts has been
encouraging so far, it said.
Moreover, new competition from Singapore has not affected Malaysia's Resorts
World Genting, where the number of visitors in the first half of 2010 was higher
than in the same period last year, it added.
In addition, the United States gaming companies that have a significant
presence in Macau and Singapore, continue to benefit from the robust growth
trend in these markets, it explained.
According to the report, the performance of casino operators in Australia
and New Zealand also remained steady despite the diminished effect of the fiscal
stimulus programme in Australia, and the challenging economic environment in New
Zealand.
Standard & Poor's believes that stronger economic prospects, reasonably
limited competition, and relatively lower financial leverage will support the
performance of casino operators in the Asia-Pacific.
-- BERNAMA
Asia-Pacific region has been strong, to date, in 2010.
Going forward, the steadily growing Chinese economy, resilient regional
markets with an expanding middle class, and an improving global economy will
support the performance of operators in the region.
That's according to an industry report card titled, "Robust Growth And
Resilient Markets Pave The Way For Casino Operators' Sturdy Performance In
Asia-Pacific," published by Standard & Poor's Ratings Services today.
"Gaming operators in Asia-Pacific have strongly benefited from robust
economic growth and the resilience of markets in the region," said Standard &
Poor's credit analyst, Allan Redimerio.
This is in sharp contrast to operators in other major regions, such as North
America, that continue to face pressures stemming from weak economic activity in
those regions, he said.
He also said Standard & Poor's expects the performance of casino operators
in the region to remain stable for the next 12 months.
According to the report card, the gaming market in Macau has maintained its
strong growth momentum since the second half of 2009, with gross gaming revenue
growth in 2010 likely to exceed Standard & Poor's expectation of 15 per cent.
Singapore's foray into the gaming industry has increased the size of the
market, and the performance of the country's two new integrated resorts has been
encouraging so far, it said.
Moreover, new competition from Singapore has not affected Malaysia's Resorts
World Genting, where the number of visitors in the first half of 2010 was higher
than in the same period last year, it added.
In addition, the United States gaming companies that have a significant
presence in Macau and Singapore, continue to benefit from the robust growth
trend in these markets, it explained.
According to the report, the performance of casino operators in Australia
and New Zealand also remained steady despite the diminished effect of the fiscal
stimulus programme in Australia, and the challenging economic environment in New
Zealand.
Standard & Poor's believes that stronger economic prospects, reasonably
limited competition, and relatively lower financial leverage will support the
performance of casino operators in the Asia-Pacific.
-- BERNAMA
