Melco Crown (Macau) Ltd. - S&P Global Ratings’ Credit Research

Melco Crown (Macau) Ltd.

Melco Crown (Macau) Ltd. - S&P Global Ratings’ Credit Research
Melco Crown (Macau) Ltd.
Published May 27, 2015
12 pages (3792 words) — Published May 27, 2015
Price US$ 500.00  |  Buy this Report Now

About This Report

  
Abstract:

Execution risk in new casino projects. Revenue concentration in Macau. Weak short-term growth prospects and intense competition in the gaming industry in Macau. Ability to provide superior entertainment activities. Improving revenue diversity. High capital spending, which is likely to decline. Strong operating cash flows and liquidity. The stable outlook on Melco Crown (Macau) Ltd. reflects our expectation that the company's projects in Macau will be on schedule and within budget over the next 12 months. However, revenue growth of Melco Crown's new projects in Macau and the Philippines could be slow, given the sluggish growth outlook for the gaming industry in Asia-Pacific. The outlook also reflects our view that Crown Resorts Ltd. and Hong Kong-based Melco International Development Ltd. will

  
Brief Excerpt:

...Outlook: Stable The stable outlook on Melco Crown (Macau) Ltd. reflects our expectation that the company's projects in Macau will be on schedule and within budget over the next 12 months. However, revenue growth of Melco Crown's new projects in Macau and the Philippines could be slow, given the sluggish growth outlook for the gaming industry in Asia-Pacific. The outlook also reflects our view that Crown Resorts Ltd. and Hong Kong-based Melco International Development Ltd. will maintain their ownership interests and close strategic relationship with Melco Crown Entertainment Ltd. (MCE), Melco Crown's parent. We take a consolidated view of the MCE group when analyzing Melco Crown's credit profile, because the company is MCE's major operating asset and holder of the group's gaming subconcession....

  
Report Type:

Full Report

Issuer
Melco Crown (Macau) Ltd.
GICS
Casinos & Gaming (25301010)
Sector
Global Issuers
Region
Pacific
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Melco Crown (Macau) Ltd." May 27, 2015. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Melco-Crown-Macau-Ltd-1400494>
  
APA:
S&P Global Ratings’ Credit Research. (). Melco Crown (Macau) Ltd. May 27, 2015. New York, NY: Alacra Store. Retrieved Nov 07, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Melco-Crown-Macau-Ltd-1400494>
  
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