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Moody’s Investors Service revised its outlook on the U.S. gaming industry Monday, downgrading it from stable to negative due to recent declines in gaming revenue.
“The fact regional gaming revenues excluding Nevada remained flat, despite further improvement in the economy and additional regional casinos throughout the U.S., is a strong indication that U.S. consumers will continue to limit their spending to items more essential than gaming, even as the U.S. economy continues to improve,” Keith Foley, a Moody’s senior vice president, wrote in a report.
While gaming revenue declines in April and May were relatively small, Moody’s had expected slight increases.