TEXT-S&P Report: Asia-Pacific Gaming Firms To Keep Up Investments

(The following was released by the rating agency)

HONG KONG (Standard & Poor's) Nov. 13, 2012--Global economic

uncertainties and the lack of new supply in the next 12 months

could start to chip away at growth rates in some Asia-Pacific

gaming markets.

However, casino operators in the region are likely to use

their improving financial capacity to aggressively bid for

licenses and invest billions of dollars in gaming projects.

That's according to an industry report card, titled

"Asia-Pacific Gaming: Likely Revenue Slowdown Won't Derail

Growth Plans," that Standard & Poor's Ratings Services published

today.

"In 2013, we expect revenue to increase only moderately in

Singapore and revenue growth to slow in Macau, with the growth

in both markets coming off high bases. But we anticipate that

growth will remain solid in Australia and in the Philippines,"

said Standard & Poor's credit analyst Joe Poon.

The report analyzes trends in gaming markets in Macau,

Singapore, Australia, New Zealand, and the Philippines. The

Philippines' gaming industry was the fastest-growing gaming

market in the Asia-Pacific after Macau and Singapore last year.

It should continue to grow at a strong pace over the next few

years as operators provide more product offerings and disposable

incomes rise.

Standard & Poor's believes that Asia-Pacific gaming

operators are better positioned now than they were in 2008, when

the global financial crisis began to hit. They are more likely

to accommodate the risks associated with investments in new

gaming developments and any moderation in gaming demand.

"Asia-Pacific gaming operators are generating healthy cash

flows and liquidity has strengthened, even for those with

previously weak liquidity positions. Given the mix of

opportunities and risks, we stand by our stable outlook for the

sector," said Mr. Poon.

RELATED CRITERIA AND RESEARCH

-- U.S. Gaming, Lodging, And Leisure Sectors Will Likely

Maintain Modest Growth Overall Through 2013, Oct. 1, 2012 --

Business And Financial Risks In The U.S. Gaming Industry, Sept.

25, 2008 -- 2008 Corporate Criteria: Analytical Methodology,

April 15, 2008

Source: http://news.yahoo.com/text-p-report-asia-pacific-gaming-firms-keep-230909939--sector.html

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