The current credit profile of Australia-based casino games supplier Aristocrat Leisure Ltd reflects its earnings stability, though Covid-19 remains a drag on its land-based gaming business, said Moody’s Investors Service Inc in a review published on Friday from the ratings firm’s Sydney, New South Wales, office.
Aristocrat Leisure’s credit profile is ranked as ‘Ba1′, the highest Moody’s non-investment grade for fixed-income obligations with an original maturity of one year or more, according to the institution. The obligations rated “Ba” are judged to have “speculative elements” and are subject to “substantial credit risk”.
The current ‘Ba1′ credit profile of Aristocrat Leisure reflects its “geographic diversification”, and its “shift in revenue mix towards recurring revenue allowing earnings stability”, Moody’s said in its latest periodic review. The rating agency also said a ‘Ba1′ credit profile reflected the company’s “organic growth” outlook, relating particularly to its digital product and services segment.
But Aristocrat Leisure’s credit profile is constrained by Covid-19 containment measures on land-based gaming; as well as “evolving regulatory oversight”; “consumer tastes”, and the “competitive nature” of the digital segment, Moody’s said.
Sep 29, 2020A non-executive director at Australian casino firm Crown Resorts Ltd, Michael Johnston, said on Monday that he had not checked whether Stanley Ho Hung Sun, former monopolist in the Macau casino...
Sep 28, 2020
”It will take many years, possibly three… to five years for… international visitor arrivals to return to 2019 pre-Covid-19 levels”
Chief executive of Singapore Tourism Board