Moody's Investor Services has downgraded del Lago's Corporate Family Rating to a negative outlook. Analysts say the resort and casino is about $100M short of expected goal citing too many other casinos close to them. Moody's is a global provider for financial research on bonds issued by commercial and government entities.
A new report is not painting a great picture of del Lago Resort and Casino.
Moody's Investor Services has downgraded del Lago's Corporate Family Rating to a negative outlook.
According to the report, its revenue is well below Moody's expectation.
Analysts expected the casino to make $250 million in the first year, but nine months in, Moody's says the casino will make just $150 million.
One major reason for Moody's outlook, there's too many casino's too close to del Lago.