The fallout from the inquiry into Crown Resorts’ suitability to hold a license in Sydney may have ramifications for the entire industry in Australia, including tighter regulation, Fitch Ratings said in its 2021 outlook.

The focus for regulators is likely to be on the international and VIP segment, it said. However, Australian operators get about 80 percent of their business from the domestic market, which will limit the impact of any changes on casino credit profiles.