{"id":16220,"date":"2026-05-08T08:30:00","date_gmt":"2026-05-08T13:30:00","guid":{"rendered":"https:\/\/www.mundovideo.com.co\/en\/?post_type=asia&#038;p=16220"},"modified":"2026-05-08T08:09:19","modified_gmt":"2026-05-08T13:09:19","slug":"casino-bonds-drive-gaming-sector-refinancing","status":"publish","type":"asia","link":"https:\/\/www.mundovideo.com.co\/en\/asia\/casino-bonds-drive-gaming-sector-refinancing\/","title":{"rendered":"Casino bonds drive gaming sector refinancing"},"content":{"rendered":"\n<p>Asian gaming giants <strong>MGM China<\/strong> and <strong>Las Vegas Sands<\/strong> have launched new multi-billion-dollar international bond offerings to refinance debt and extend maturities through 2033, highlighting how major casino operators are increasingly using global capital markets to restructure balance sheets while Macao continues its post-pandemic recovery.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><a href=\"https:\/\/www.mundovideo.com.co\/landing\/multigame-link\/\" target=\"_blank\" rel=\" noreferrer noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"700\" height=\"700\" src=\"https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2024\/08\/multigame-diamod-III-700-eng.jpg\" alt=\"\" class=\"wp-image-9622\" style=\"width:840px;height:auto\" srcset=\"https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2024\/08\/multigame-diamod-III-700-eng.jpg 700w, https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2024\/08\/multigame-diamod-III-700-eng-300x300.jpg 300w, https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2024\/08\/multigame-diamod-III-700-eng-150x150.jpg 150w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/a><\/figure>\n\n\n\n<p>MGM Resorts International announced an international offering of senior unsecured notes aimed at professional investors worth approximately <strong>US$750 million<\/strong>, maturing on <strong>15 May 2033<\/strong> with a coupon near <strong>6.25% annually<\/strong>. The proceeds will primarily be used to repay part of its <strong>2025 Revolving Credit Facility<\/strong>, a <strong>HK$23.4 billion<\/strong> banking line signed in April 2025.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"273\" src=\"https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2026\/05\/casino-bonds-drive-gaming-sector-refinancing2.jpg\" alt=\"\" class=\"wp-image-16223\" srcset=\"https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2026\/05\/casino-bonds-drive-gaming-sector-refinancing2.jpg 1000w, https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2026\/05\/casino-bonds-drive-gaming-sector-refinancing2-300x82.jpg 300w, https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2026\/05\/casino-bonds-drive-gaming-sector-refinancing2-768x210.jpg 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/figure>\n\n\n\n<p>Days earlier, Las Vegas Sands confirmed another <strong>US$1 billion<\/strong> issuance split into two tranches: notes at <strong>5.300% due 2031<\/strong> and notes at <strong>5.650% due 2033<\/strong>, aimed at refinancing existing 2026 debt while preserving corporate liquidity. A bond essentially works as a loan made by investors to a company. The casino operator receives immediate cash and, in return, commits to making periodic interest payments until the full principal is repaid at maturity. In this case, bondholders will receive interest payments for roughly seven years while assuming the operator\u2019s credit risk.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"641\" src=\"https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2026\/05\/casino-bonds-drive-gaming-sector-refinancing3.jpg\" alt=\"\" class=\"wp-image-16222\" srcset=\"https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2026\/05\/casino-bonds-drive-gaming-sector-refinancing3.jpg 1000w, https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2026\/05\/casino-bonds-drive-gaming-sector-refinancing3-300x192.jpg 300w, https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2026\/05\/casino-bonds-drive-gaming-sector-refinancing3-768x492.jpg 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"562\" src=\"https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2026\/05\/casino-bonds-drive-gaming-sector-refinancing4.jpg\" alt=\"\" class=\"wp-image-16221\" srcset=\"https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2026\/05\/casino-bonds-drive-gaming-sector-refinancing4.jpg 1000w, https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2026\/05\/casino-bonds-drive-gaming-sector-refinancing4-300x169.jpg 300w, https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2026\/05\/casino-bonds-drive-gaming-sector-refinancing4-768x432.jpg 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/figure>\n\n\n\n<p>The <strong>BB-<\/strong> rating assigned to MGM China by Fitch indicates speculative but stable debt: higher risk than investment-grade issuers but still supported by current cash flow and Macao\u2019s gaming recovery. Las Vegas Sands, meanwhile, maintains a <strong>BBB<\/strong> investment-grade rating, allowing it to borrow at lower interest rates. Banks play a dual role in these transactions, because they provide revolving credit facilities while also acting as bookrunners and underwriters, connecting institutional investors with casino operators.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.mundovideo.com.co\/mve-ads\/?lang=en\" target=\"_blank\" rel=\" noreferrer noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"575\" src=\"https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2025\/10\/mundo-video-ads-to-attend-g2e-las-vegas-2025-to-strengthen-partnerships-and-boost-brand-visibility-in-the-gaming-industry3.jpg\" alt=\"\" class=\"wp-image-14037\" srcset=\"https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2025\/10\/mundo-video-ads-to-attend-g2e-las-vegas-2025-to-strengthen-partnerships-and-boost-brand-visibility-in-the-gaming-industry3.jpg 1000w, https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2025\/10\/mundo-video-ads-to-attend-g2e-las-vegas-2025-to-strengthen-partnerships-and-boost-brand-visibility-in-the-gaming-industry3-300x173.jpg 300w, https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2025\/10\/mundo-video-ads-to-attend-g2e-las-vegas-2025-to-strengthen-partnerships-and-boost-brand-visibility-in-the-gaming-industry3-768x442.jpg 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/a><\/figure>\n\n\n\n<p>The surge in gaming bond activity reflects a strategic shift across gaming, less dependence on traditional bank borrowing and greater reliance on capital markets to refinance liabilities, maintain liquidity and support long-term operations in a gaming hub that generated approximately <strong>US$28.3 billion in GGR during 2024<\/strong>, equal to around 77.5% of pre-pandemic levels.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Asian gaming giants MGM China and Las Vegas Sands have launched new multi-billion-dollar international bond offerings to refinance debt and extend maturities through 2033, highlighting how major casino operators are increasingly using global capital markets to restructure balance sheets while Macao continues its post-pandemic recovery.<\/p>\n","protected":false},"author":1,"featured_media":16224,"menu_order":0,"comment_status":"closed","ping_status":"open","template":"","format":"standard","meta":{"inline_featured_image":false,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[1],"tags":[2323,5061,57,1192,15,4812,4960,1438,1685,105],"class_list":{"0":"post-16220","1":"asia","2":"type-asia","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-sin-categoria","8":"tag-asia","9":"tag-bonds","10":"tag-casinos","11":"tag-china","12":"tag-gambling","13":"tag-ggr","14":"tag-ir","15":"tag-macau","16":"tag-mgm","17":"tag-sports-betting","18":"entry"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.6 - 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