Moody's Investors Service downgrades outlook for gaming industry

Created: 07/03/2014 12:33 PM WHEC.com

A new report raises concerns about the expanding casino industry in the U.S. The news comes as up to four casinos permits could be built in upstate New York.

Moody's Investors Service downgraded its outlook for the U.S. gaming industry from stable to negative. The forecast is based on a drop in revenue in casinos across the country. The loss in income came as the economy improved.

Analysts say the downgraded outlook is because consumers chose to gamble less, despite having more money to spend freely.

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