Solid market position in its main resort and gaming business. Moderate level of revenue and earnings diversity. Intermediate financial profile, however, weakening trend with the financing of the Sentosa project. Rising competition from expanding regional gaming markets. Single-site risk of gaming business, albeit improving with the acquisition of overseas gaming businesses. Increased exposure to project-completion risks. The rating on Genting Bhd. reflects the company's firm market position in the resort and gaming business, moderate level of revenue and earnings diversity, and intermediate financial risk profile. Other factors considered in the rating are the potential competitive threats from expanding regional gaming markets, the single-site risk of most of its gaming business, and its increasing exposure to project completion and execution-related risks.
