n an industry outlook report released Tuesday, it said Resorts World Malaysia's monopoly operation has been unaffected by competition from the new casinos in Singapore due to its monopoly status and domestic focus.
In Singapore, Moody's said the partial opening of the Marina Bay Sands and Genting's Resorts World this year have led to encouraging results. "The two are still ramping up operations, while the sustainability of their strong initial performance remains unproven," it said.
For Asia Pacific's gaming sector, Moody's Investors Service has maintained a stable outlook for the sector as robust levels of intra-regional travel and consumer spending continued to support steady growth in gaming revenues.
Moody's rated four leading casino operators in the region between Baa1 and B3. The operators are located in Australia, Macau and Malaysia. "Looking ahead, we expect Macau's gaming revenue to extend its growth in the next 12-18 months, supported by China's still-booming economy. “But the growth would be balanced by two mega resorts scheduled to open next year," said Moody's Assistant Vice-President and analyst Kaven Tsang.
Over the medium-term, Moody's said the regional gaming market would grow further in capacity as many operators seeked opportunities in light of the recent strong performance.
"The liberalisation and development of gaming markets elsewhere in Asia are also a possibility, but these are more medium-to-long term challenges with no impact in the foreseeable future," it added.