Moody's lifts Riverside Casino view to positive

Moody's Investors Service said it changed the outlook of Riverside Casino & Golf Resort, LLC to positive from stable; all ratings remain unchanged.

The outlook change reflects Riverside's on-time and on-budget property opening and the first few months of revenue performance, which has met management's projections, the agency said.

Moody's noted, however, that operating margin has been below the anticipated levels due to some higher-than-expected opening expenses and labor costs. Upward rating momentum will depend on Riverside's ability to maintain or to improve its operating margin and on the market's ability to absorb the Isle of Capri-Waterloo casino resort, which is scheduled to open in the second quarter.

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