Fitch Ratings-Sydney-24 June 2021: Australia’s gaming operators are facing increased scrutiny following a series of allegations in the media and the associated regulatory responses. These responses pose a risk for operators and Fitch Ratings expects greater regulatory oversight to drive structural change in the sector.
Stricter regulations are not the only source of change facing the sector; international border closures, rising tensions with China, restrictions on domestic gaming and bans on junkets have also significantly affected VIP business. However, mass domestic play continues to demonstrate resilience, underpinning the sector’s strength.
Fitch’s new report, “What Investors Want to Know: Australian Gaming”, discusses the impact that border closures and rising tensions with China will have on the sector, risks posed by greater regulatory oversight and how bans on junkets will affect VIP. We also address how offers for Crown Resorts Limited (BBB/Rating Watch Negative) could change Australia’s gaming landscape.