While Macau-based properties can seemingly do no wrong, Moody’s Investors Service are downright bearish on the fortunes of many US-based casino companies. (Never mind that just a month ago, Moody’s said the situation had stabilized.) While outfits with a serious Asian presence — like Las Vegas Sands and Wynn — are less vulnerable, others such as MGM Resorts, Harrah’s and Boyd need the overall US economy to do more than just stabilize if they want to renegotiate their debt “on less than onerous terms.” Read more.
MGM increases senior notes offering to $1B
June 18, 2018