Moody's: Stable view for Asia Pacific gaming

Moody's Investors Service said it is maintaining a stable outlook for Asia Pacific's gaming sector as robust levels of intra-regional travel and consumer spending continue to support steady growth in gaming revenues.

The agency said it expects Macau's gaming revenue will extend its growth in the next 12 to 18 months, supported by China's still-booming economy.

But the growth will be balanced by the two mega resorts scheduled to open in 2011, Moody's said.

With Australia, the agency said it expects a relatively steady performance from the gaming sector with growth showing quite a close correlation to increases in household income and earnings.

Meanwhile, in Singapore, the partial openings this year of the country's first two casino complexes have led to encouraging results, Moody's said.

Both are still ramping up operations, while the sustainability of their strong initial performance remains unproven.

Finally, in the case of Malaysia, Moody's said it expects the market will extend its stability and resilience due to a stable domestic economy and in the absence of external threats.

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