Feb 27 Fitch Ratings said on Wednesday that New
Jersey's legalization of online gaming was a credit positive for
Borgata Hotel Casino & Spa and Caesars Entertainment Corp.
Fitch also noted that the move by New Jersey, which on
Tuesday legalized online gaming within the state, showed that
online gaming was picking up traction as more states consider
offering gambling over the Internet.
While Nevada and Delaware have recently allowed some form of
online gaming, New Jersey's may become the "most meaningful"
U.S. state to pass such legislation so far, in part because of
its larger population base, Fitch said.
Fitch rates Borgata's issuer default rating a B-minus with a
stable outlook. It rates Caesar's IDR a CCC with a negative
Marina District Finance Co. is the issuing
entity for the Borgata, which is owned by Boyd Gaming Corp.