Del Lago Casino’s Bond Rating Reduced

The Del Lago Casino in Tyre, Seneca County has had its bond rating reduced by Moody’s Investor Services. The bond rating was lowered to Caa2 with a negative outlook. The $440 million casino was expected to achieve revenue of $250 million per year, but the current rate is only $150 million. Moody’s does believe that Del Lago can pay the interest payments on its debt at this time. Del Lago is about 85 miles north of Tioga Downs.