Ratings agency says land casino industry can sink no lower

TAGs: Las Vegas, moody's investors service

Good news (of a sort) for the beleaguered American casino industry. Analysts at Moody’s Investors Service say that after a couple years of decline, the casino biz has effectively bottomed out, and Moody’s has therefore upgraded its outlook from ‘negative’ to ‘stable’. But considering these same guys are warning investors not to expect anything resembling profits for a couple years, it’s a bit like if BP starts bragging come the day when they finally cap their busted oil well. So, everything’s fine now, right? Right… Read more.


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