S&P downgrades Universal Entertainment to B- on Philippine resort performance
S&P Global Ratings downgraded Universal Entertainment from B to B-, citing weaker-than-expected EBITDA linked to its Philippine casino resort business. The agency forecasts company-wide EBITDA of about JPY18 billion in 2025, down from JPY21.2 billion in 2024, and maintains a stable outlook; it said EBITDA weakness or cash reserves below JPY25 billion could prompt another downgrade.
The downgrade and financial forecasts affect investors assessing Universal Entertainment’s credit risk and casino operations.