S&P lowered its rating on Galaxy Casino SA from “positive” to “stable”. In its report S&P said:
S&P said competition among operators, which currently own a total of 29 casinos, will continue to increase significantly. Competition will be particularly intense in 2009, when more casinos are due to open — either before or after Galaxy’s integrated casino and entertainment resort, Galaxy Cotai Mega Resort opens on Macau’s Cotai strip.
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