ATLANTIC CITY, N.J.
A key corporate credit rating firm doubts that proposed changes including smaller casinos, Internet gambling and sports betting will end Atlantic City's four-year slump.
Moody's Investors Service says in a report issued Monday that the
The company says that, instead of invigorating the market by adding new investment, the move to allow casinos with as few as 200 hotel rooms would cannibalize existing properties like the Borgata, Harrah's and the Trump casinos.
And Moody's says Internet and sports betting would likely set off "a casino arms race" with Pennsylvania, New York and Maryland, which would likely allow it as well.
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