S&P acts on gaming companies

S&P said it downgraded several gaming companies and placed many of them on CreditWatch with negative implications citing the effects of the coronavirus pandemic on travel and closures of casinos.

S&P cut Wynn Resorts to BB- from BB. The agency lowered Penn National Gaming to B from B+ . Century Casinos was cut to B- from B. S&P downgraded Enterprise Development Authority to CCC+ from B-. Buena Vista Gaming Authority was lowered to CCC+ from B-. S&P cut Downstream Development to CCC from B and sliced Saracen Development to CCC from B-. S&P placed these companies on CreditWatch with negative implications with the exception of Wynn, which was already on negative watch.

The agency placed the following companies on CreditWatch with negative implications: Seminole Tribe of Florida, Las Vegas Sands Corp., PCI Gaming Authority, Churchill Downs Inc., Seminole Hard Rock Entertainment Inc., Scientific Games Corp., Boyd Gaming Corp., Station Casinos LLC, CityCenter Holdings LLC, CCM Merger Inc., AP Gaming Holdings LLC, Everi Payments, Golden Entertainment Inc., Peninsula Pacific Entertainment LLC, Jacobs Entertainment, 18 Fremont Street Acquisition, Affinity Gaming, Century Casinos, Mohegan Tribal Gaming Authority, Mohegan Tribal Finance Authority, Spectacle Gary Holdings LLC and Sugarhouse HSP Gaming Prop. Mezz. LP.

MGM Resorts International remains on negative watch.

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