{"id":11752,"date":"2024-04-04T08:39:41","date_gmt":"2024-04-04T08:39:41","guid":{"rendered":"https:\/\/casinous.com\/?p=11752"},"modified":"2024-04-04T08:39:41","modified_gmt":"2024-04-04T08:39:41","slug":"ballys-eyes-petersburg-casino-despite-credit-downgrades","status":"publish","type":"post","link":"https:\/\/casinous.com\/ballys-eyes-petersburg-casino-despite-credit-downgrades\/","title":{"rendered":"Bally’s Eyes Petersburg Casino Despite Credit Downgrades"},"content":{"rendered":"
Paige<\/a> | April 4, 2024 | Updated on: April 4th, 2024<\/p> Casino giant Bally’s Corporation is still interested in building a casino resort in Petersburg, Virginia, even though the company’s credit rating was recently lowered. This is despite facing financial challenges and recent downgrades from all three major credit rating agencies: Moody’s, S&P, and Fitch Ratings.<\/p>\n <\/p>\n Bally argues that the credit rating downgrades won’t affect their ability to compete for the Petersburg casino license. The company remains confident in its proposal for a world-class resort, but approval hinges on being chosen by the city council and getting the green light from voters in a referendum.<\/p>\n \u201cWe remain confident in our proposal to construct a world-class casino resort in Petersburg,\u201d Bally’s communicated via email to a Petersburg news organization.<\/p><\/blockquote>\n The downgrade, shifting Bally\u2019s outlook from \u201cB+\u201d to \u201cB,\u201d reflects concerns about the company’s financial stability. However, this hasn’t deterred Bally\u2019s from seeking opportunities in the gaming industry. With plans for a $1.1 billion casino resort in downtown Chicago<\/a> and a smaller casino near Penn State University in Pennsylvania, Bally\u2019s is actively expanding its footprint.<\/p>\n<\/span>Bally’s Looking Beyond Petersburg Casino Credit Issues<\/span><\/h2>\n
<\/span>Expanding Horizons in the Gaming Industry<\/span><\/h2>\n
<\/span>Petersburg Casino Project Up for Grabs<\/span><\/h2>\n