Genting Malaysia budgets RM1b capex, said to be proposing US dollar bonds theedgemarkets.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theedgemarkets.com Daily Mail and Mail on Sunday newspapers.
Casino operator Genting Malaysia Bhd should be able to “deleverage in one or two years” thanks to “gradual” recovery in demand following the Covid-19 pandemic, and thanks to maintaining financial discipline and operating flexibility, coupled with moderating capital expenditure, says a Tuesday note from Fitch Ratings Inc.
Fitch expects Genting Malaysia’s earnings before interest, taxation, depreciation and amortisation (EBITDA) to return to pre-pandemic levels and net debt/EBITDA “to fall to below three times by end-2022 on healthy demand,” it stated.
On the outgoings side, “Genting Malaysia budgets MYR1 billion [US$242.0 million] of capital expenditure in 2021, and MYR500 million to MYR600 million annually thereafter, mainly for maintenance capex,” noted Fitch.
NY Senate Downstate Casino Plan Offers Slight Edge to Existing Racinos casino.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from casino.org Daily Mail and Mail on Sunday newspapers.
Tangos and Waltzes for the Big Apple and Windy City
By Ken Adams, CDC Gaming Reports
March 14, 2021 at
8:00 pm
New York and Chicago appear to be getting closer to a hometown resort. Chicago is currently taking a step down that road. The city is expected to release an RFP soon. Mayor Lori Lightfoot says the city would like premium casino companies to bid for a Windy City resort. The mayor went so far as to hope the companies applying would have a Las Vegas return address on their proposal. A casino in Chicago has been a dream of the city’s mayors since Illinois legalized casino gambling in 1990. Former Mayor Richard Daly advocated for a land-based casino in the city. In Daly’s plan, the city would own the casino and lease the operations to a casino operator, much like a REIT. Unfortunately for the mayor, he could never convince the Illinois Legislature to endorse his plan.