Good morning. Credit strength is often tested when the construction bill arrives. Moody’s has kept Las Vegas Sands and Sands China on stable outlooks, citing strong liquidity and the future earnings contribution from the Marina Bay Sands expansion, despite substantial development commitments. Meanwhile, International Entertainment expects its annual loss to widen to $64.1 million, largely due to a non-cash charge tied to DigiPlus convertible notes. Genting Berhad also slipped into a second-quarter net loss, even as revenue from its US casino operations jumped 67 percent.
What you need to know
- Strong liquidity and expected MBS earnings supported Moody’s stable credit outlook for LVS despite major development spending.
- International Entertainment expects a $64.1M FY26 loss, largely due to a $54.5M non-cash charge, despite higher gaming revenue.
- Genting Berhad swung to a 2Q net loss despite a 67% rise in US revenue, with contrasting results in New York and Las Vegas.
On the radar
- Macau receives 3.54M visitors in July, overnight traffic falls.
- BetStop registrations top 67,000 three years after Australian launch.
- Macau posts near-flat 0.3% GDP growth in 2Q26 as capital investment falls.
- Gambling logos could remain on Australian sports jerseys until Dec 2031.
AGB Intelligence
SINGAPORE
Moody’s maintains LVS rating on liquidity and MBS growth
Strong liquidity and the expected contribution from the Marina Bay Sands expansion supported Moody’s decision to maintain a stable credit outlook for Las Vegas Sands. Marina Bay Sands recorded an adjusted property EBITDA margin of approximately 50 percent in the first half of 2026, while its expansion is expected to generate considerable additional visitation and earnings. Moody’s nevertheless warned that substantial development commitments and further debt-funded investments could raise leverage and constrain the casino group’s credit profile.
Industry Updates
- SOFTSWISS expands family benefits with International Kids Camp 2026.
- Affiliate Leaders Summit 2026 to explore the next era of affiliate growth.
- BetConstruct AI to present sportsbook & AI at SiGMA North America 2026.
Written by
AGBrief Editorial
The AGBrief Editorial Team is a group of contributors living around the world that are connected to Asia Gaming Brief. They are active members in pursuing the sources of our news, making them reliable and accurate for our readers.
More from AGBrief Editorial →
