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Nagacorp, the operator of Cambodia’s NagaWorld, has undoubtedly been one of Asia’s integrated resort success stories, though credit ratings agency Moody’s is now sounding a note of caution about its expansion plans.
Melco Resorts & Entertainment is the best-positioned stock with exposure to Macau given its focus on the premium mass segment and lower-risk status.
Suncity Group Holdings said it had received a 60-year license to operate the Hoiana integrated resort in central Vietnam.
Melco Resorts & Entertainment swung to a loss in Q1 due to the impact of the coronavirus, but said it remains committed to its development plans, including a bid for a license in Japan.
Genting Singapore posted a decline in Q3 profit and revenue amidst what it described as a “confluence of events.”
Genting Singapore Q1 results topped expectations, mainly helped by a higher luck factor, though analysts say they are cautious about near-term prospects.
Nagacorp said that after discussions with the Hong Kong Stock Exchange it is clarifying that its $3.5 billion expansion plan for Naga 3 counts as an acquisition of assets under listing rules.
Suncity Group Holdings has bought a further 24.68 percent stake in Summit Ascent Holdings for HK$717.8 million ($91.5 million) as it seeks to build an “integrated tourism-related platform.”
Singapore’s two integrated resorts will cast a longer reflection on the island state but new shadows cloud the horizon across the southern shoreline.
Genting Singapore’s S$4.5 billion plan to expand its non-gaming attractions will only have a modest impact on its leverage and earnings and therefore its credit rating remains unchanged, Fitch Ratings said in a report.
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