How Low Can You Go?

Moody’s Investors Service has again downgraded the Mohegan Tribal Gaming Authority’s credit rating, saying they are at substantial risk for default.

Brian Hallenbeck of The Day, a daily newspaper in eastern Connecticut, has a detailed update on the authority’s finances.

The gambling arm of the Connecticut-based Mohegan Tribe has partnered with the Cowlitz Indian Tribe to operate a casino in Clark County. That project, however, needs to first withstand a challenge in federal court.

While the Clark County project isn’t mentioned in Hallenbeck’s article, he did write that the authority announced plans last week to operate a proposed racetrack casino in New York.