Industry Credit Outlook: U.S. Leisure Sectors' Credit Quality Is Generally Stabilizing, In Varying Degrees Oct 10
Standard & Poors, October 2010
Abstract
Although our outlook for the U.S. gaming sector varies somewhat by market, we do not believe any market will experience meaningful growth in 2010. Furthermore, given our economists' current expectation for only modest (2.2%) growth in consumer spending in 2011, the prospects for next year do not seem much more promising. In addition to the outlook for consumer spending, our expectations take into account our economists' latest views about certain other economic measures, including unemployment, which is expect to remain well above 8% into 2012. We believe persistent high unemployment will discourage consumer spending, particularly on such discretionary items as leisure travel or gaming. Operators with a presence in Macau continue to benefit from the very robust growth trend that...
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Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
- Brunswick Corp.
- Eastman Kodak Co.
- Caesars Entertainment Corp.
- Host Hotels & Resorts Inc.
- Mattel Inc.
- Bluegreen Corp.
- Harley-Davidson Inc.
- Hasbro Inc.
- International Game Technology
- Norwegian Cruise Line Ltd.
- Carnival Corp.
- Royal Caribbean Cruises Ltd.
- MGM Resorts International
- Six Flags Entertainment Corp.
- Marriott International Inc.
- Scientific Games Corp.
- Isle of Capri Casinos Inc.
- Boyd Gaming Corp.
- ICON Health & Fitness Inc.
- The Walt Disney Co.
- AMF Bowling Worldwide Inc.
- FelCor Lodging Trust Inc.
- Bally Technologies Inc.
- Mohegan Tribal Gaming Authority
- Affinity Group Holding Inc.
- Ryman Hospitality Properties Inc.
- Ameristar Casinos Inc.
- Speedway Motorsports Inc.
- Pinnacle Entertainment Inc.
- 24 Hour Fitness Worldwide Inc.
- Penn National Gaming Inc.
- Choice Hotels International Inc.
- Starwood Hotels & Resorts Worldwide Inc.
- Waterford Gaming LLC
- Vail Resorts Inc.
- Peninsula Gaming LLC
- International Speedway Corp.
- Choctaw Resort Development Enterprise
- Equinox Holdings Inc.
- Lottomatica Group SpA
- Jacobs Entertainment Inc.
- Circus and Eldorado Joint Venture
- Marina District Development Co. LLC
- Turning Stone Resort Casino LLC
- Motorsport Aftermarket Group Inc.
- MTR Gaming Group Inc.
- Universal City Development Partners Ltd.
- Wynn Resorts Ltd.
- River Rock Entertainment Authority
- Golden Nugget Inc.
- American Casino & Entertainment Properties LLC
- Town Sports International Holdings Inc.
- NCL Corporation Ltd.
- Seneca Gaming Corp.
- Yonkers Racing Corp.
- Seminole Tribe of Florida
- Las Vegas Sands Corp.
- Hyatt Hotels Corp.
- CCM Merger Inc.
- San Pasqual Casino Development Group Inc.
- Chukchansi Economic Development Authority
- Tunica-Biloxi Gaming Authority
- Pokagon Gaming Authority
- Wyndham Worldwide Corp.
- Cedar Fair L.P.
- Oceania Cruises Inc.
- Greenwood Racing Inc.
- Snoqualmie Entertainment Authority
- Great Canadian Gaming Corp.
- Seminole Hard Rock Entertainment Inc.
- Cannery Casino Resorts LLC
- AGS LLC
- Shingle Springs Tribal Gaming Authority
- Zuffa LLC
- Downstream Development Authority
- Indianapolis Downs LLC
- PCI Gaming Authority
- Seven Seas Cruises S de R.L.
- FireKeepers Development Authority
- Interval Leisure Group Inc.
- IMG Worldwide Holdings Inc.
- Rivers Pittsburgh Borrower L.P
- SRAM LLC
- Chester Downs and Marina LLC
- Freedom Group Inc.
- Sugarhouse HSP Gaming Prop. Mezz. L.P.
- Diamond Resorts Parent LLC
- SeaWorld Parks & Entertainment Inc.
- Great Wolf Resorts Inc.
- Midwest Gaming Borrower LLC
- Gun Lake Tribal Gaming Authority
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