where is cliff castle casino locatedBut it gave investors a taste of what to expect in a form 8-K filing with the Securities and Exchange Commission (SEC) released earlier today.Macau casinos were temporarily shuttered for 15 days in February and though those venues are now open, business is far from normal and concessionaires there, including MGM China, are burning significant amounts of cash on a daily basis.MGM Resorts International (NYSE:MGM) was likely net income negative in the first quarter, excluding one-time items, as revenue tumbled 29 percent because of gaming property closures forced by the coronavirus.foxwoods casino hotel in ctExcluding the MGM Growth Properties (NYSE:MGP) and MGM China units, MGM Resorts has no debt coming due before 2022.6 billion.78 billion, both of which were significantly better than Wall Street expected.little river casino sportsbook

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hollywood casino marylandWithout that one-time item, the gaming company probably lost money in the January through March period, something Wall Street is expecting, as the consensus analyst forecast on MGM is a loss of 17 cents a share.”The Excalibur operator said it had billion in cash and .Noting that it continues facing significant fixed costs, MGM said it’s slashing at least 50 percent of planned 2020 capital spending, implementing a hiring freeze, and that “certain senior executives and directors voluntarily elected to receive all or a portion of their remaining base salary during 2020 in the form of restricted stock units in lieu of cash.san manuel casino online playPhil Murphy (D) ordered nonessential businesses to close on March 16.5 million per day, which iharrah s cherokee casino promotionss significantly in excess of amounts being earned at those properties,” the company noted in the SEC document.No Better in MacauMGM China, the operator of MGM Cotai and MGM Macau, is on course to report a first-quarter revenue slide of 63 percent to 2 million.black oak casino logo

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island resort and casino mabageReversing Course on CARES ActCongress passed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) on March 27 and initially, it appeared as though MGM would not participate in that program.We’re very concerned about that business as we try to navigate through the summer, which is traditionally the time of year when they have their most profitable months,” Allen explained.“Our Macau properties are incurring cash operating expenses, exclusive of rent, interest, variable gaming taxes, corporate expense and expected capital expenditures, of approximately .The SEC filing indicates the company is rethinking that position.Noting that it continues facing significant fixed costs, MGM said it’s slashing at least 50 percent of planned 2020 capital spending, implementing a hiring freeze, and that “certain senior executives and directors voluntarily elected to receive all or a portion of their remaining base salary during 2020 in the form of restricted stock units in lieu of cash.Reversing Course on CARES ActCongress passed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) on March 27 and initially, it appeared as though MGM would not participate in that program.admiral casino venues