'Casino Saturation' could be bad for NY
Updated: Wednesday, July 2 2014, 10:35 PM EDT
Investors service Moody's has downgraded its outlook for the US gaming industry from stable to negative.
That means, after analysts took a look at the industry nationwide they found that outside Las Vegas revenue has fallen flat. This despite more casinos opening up around the country.
Just last week, Atlantic City, known for its gaming success showed another sign that the casino industry is becoming saturated after The Showboat Casino shut down. This is the second closure this year, leaving industry experts believing consumers will continue to limit their spending, even as the economy bounces back.
It's a trend that's expected to continue and you can expect lawmakers here in New York will keep a close eye on these reports as they press forward with plans for additional casinos.
CBS6 reached out to Governor Cuomo's office for a response to the news, we haven't heard back.