Moody’s: expect 15 pct casino growth for 12 months

Gaming revenue in Macau is expected to grow at about 15 percent year-on-year in the next six to 12 months, Bloomberg quotes Moody’s as saying. This steady growth will strengthen casino earnings and lower debt-funding needs, which will improve casino finances to support expansion in Cotai, the ratings agency says in a report. Still, casinos’ debt leverage will increase over the next two to three years, Moody’s says. Casino revenue was MOP29.5 billion (US$3.69 billion) last month, 20 percent more than at the same time last year. Casino revenue in the first seven months of this year rose by 15.9 percent to MOP200.9 billion.