S&P lowers Universal Entertainment outlook to negative on casino weakness
S&P Global Ratings lowered its outlook on Universal Entertainment from stable to negative, citing weak performance at its Philippine casino resort business and pressure on EBITDA. It affirmed the company’s B- long-term issuer credit and senior debt ratings, while forecasting casino resort EBITDA of about JPY10 billion annually, below its earlier JPY15 billion to JPY16 billion estimate.
The weaker outlook and lower EBITDA forecasts signal continued financial pressure for Universal Entertainment and its creditors.