Ratings agency Moody’s Investor Service on Friday affirmed Scientific Games’ B3 Corporate Family Racing, B3-PD Probability of Default Rating and changed its outlook from negative to stable.
“The change in outlook to stable from negative reflects the recovery in the company’s gaming operations as the number of gaming facilities open has favorably increased revenue and operating income for the company, following the Q2 2020 closures,” said Moody’s in a note.
However, whilst improvement is expected in 2021, Moody’s expects gaming activity will remain below pre-pandemic levels until at least 2022 with leverage remaining elevated.
Everi Holdings Inc on Monday announced that E. Miles Kilburn, Chairman of the Board of Directors of Everi, has informed the Company he will retire from the Board of Directors and will not stand for reelection at the Company’s 2021 Annual Meeting of Stockholders.
The world is bouncing back, or at least coming to grips with the fact that going forward not much will be the same as before. Commendably, this industry quickly understood the need to adapt to a new normal, and that the days of targeting the low hanging fruit of the VIP sector are gone.
Over the years, many of the answers have been remarkably prescient in their forecasts for the near-term direction of Asia’s gaming industry. However, we can safely say that no one came anywhere close to guessing what 2020 may have had in store.