admiral casino and lodgeFactors that could lead to an upgrade include:Improved liquidityFurther reductions in expendituresDiversification of the economic baseMaterial improvement in tax base and resident wealth and incomeImprovement in the State of New Jersey’s ratingOn the contrary, if the gaming industry fails to support the nine casinos and one or more closes over the next year, Moody’s could downgrade its Atlantic City credit rating.Atlantic City’s long-term issuer credit rating is being upgraded by Moody’s Investors Services from Caa3 to B2.PPB said it estimated some 30 percent of bets were coming from New York State residents.harrah s casino restaurantsGovernor Phil Murphy (D) had campaigned on the promise of handing back its governance, but said in September of his decision to retain control, “I don’t want to see this great and historical city on the mat again.The outlook remains positive,” Moody’s declared.(Image: Hard Rock Atlantic City)Moody’s defines B2 as “being speculative and a high credit risk.online video slots real money

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free online slots guruMoody’s adds that the city’s recent tax dispute settlements, as well as the continued “strong oversight by the State of New Jersey,” were the driving rationale behind the credit modification.” On pace for its third consecutive year of gross gaming revenue growth, and the introduction of two new casinos, and Moody’s is upgrading the credit rating for Atlantic City.Crucially, though, there was “no indication of cannibalization” of DFS revenues since the advent of sports betting.fanduel casino partnersCrucially, though, there was “no indication of cannibalization” of DFS revenues since the advent of sports betting.”Future FactorsIn its ratings release, Moody’s pointed to a host of factors that could lead to either another upgrade during its next review, or a downgrade.” But that’s better than Caa3, which is described as “poor quality and very high credit risk.jamul casino poker

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