New Ohio casinos will hit nearby resorts-Moody's

NEW YORK Nov 4 (Reuters) - Four new casinos Ohio voters approved could drain profits from similar resorts in nearby states and hit the U.S. market as gaming demand continues to decline, a credit agency said on Wednesday.

Ohio voters had previously rejected legalizing casinos but the state's sagging economy appeared to have helped supporters win over naysayers in Tuesday's vote. For details, please see: [ID:nN044702].

The new casinos planned for Cincinnati, Cleveland, Columbus, and Toledo, are expected to offer the same kinds of games as existing resorts in West Virginia, Pennsylvania, Indiana and Michigan, Moody's said in a statement.

These states might be pressured "to legalize expanded types of gaming just to stay competitive and keep customers within their borders," said Keith Foley, a Moody's analyst.

"It appears the U.S. gaming pie is not getting bigger, and the slices continue to get smaller," he said.

(Reporting by Joan Gralla; editing by Andrew Hay)