S&P: Galaxy Casino view negative

Standard & Poor's said it revised the outlook on Galaxy Casino SA to negative from stable and affirmed its B+ long-term corporate credit rating and the B+ rating on senior unsecured notes issued by Galaxy Entertainment Finance Co. Ltd. with Galaxy Casino's guarantee.

The outlook revision follows a very weak performance in the first half by Galaxy Casino's parent Galaxy Entertainment Group Ltd., largely stemming from heightened competition in the high-roller segment, according to the agency.

The affirmation reflects the fact that phase 1 of Galaxy Cotai Mega Resort is fully funded and should open on time and within budget.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.