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del Lago Casino credit rating downgraded

del Lago Casino credit rating downgraded

January 10, 2019 11:21 PM

del Lago Casino and Resort's credit rating has been downgraded for a second straight year by Moody's Investor Service.

Syracuse.com reports that the rating was determined by lower than expected revenue growth and a crowded casino market.

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Moody's wrote that the casino will need further equity investment of some type or a restructuring.

del Lago owner Thomas Wilmot has asked the state for money in the past, but each plea was rejected by Governor Andrew Cuomo and state lawmakers. 

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