intertops sister casinoEarlier this month, Wynn Macau, the holding company for the two integrated resorts there, said it can’t yet forecast the impact the COVID-19 outbreak will have on 2020 financial results.Even with its recent rally, Penn remains one of the most battered regional gaming stocks.That after the stock surged 24.admiral casino northampton“More specifically, the weaknesses in Penn’s credit profile, including its exposure to travel disruptions and discretionary consumer spending, have lThe downgrade of Penn’s corporate family rating (CFR) is in response to the disruption in casino visitation resulting from efforts to contain the spread of the coronavirus, including recommendations from federal, state, and local governments to avoid gatherings and avoid non-essential travel,” said Moody’s in a note obtained by Casino.56 percent, and 34.2 casinos in texas

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casino near me albuquerquet a couple of weeks before the company decided to temporarily close its two Las Vegas Strip properties and Encore Boston Harbor to prevent spreading of the coronavirus.From current prices, it would need to roughly double to get back to where it was the day the Barstool Sports deal was announced in January, and almost triple to return to its 52-week high.“The rating also reflects Penn’s high leverage along with longer-term fundamental challenges facing Penn and other regional gaming companies related to consumer entertainment preferences and US population demographics that Moody’s believes will continue to move in a direction that does not favor traditional casino-style gaming.boulder station hotel casino las vegas nevadaThe move is the latest in a series of downgrades or warnings that such actions are coming by from ratings agencies on gaming companies.“The gaming sector has been one of the sectors most significantly affected by the shock, given its sensitivity to consumer demand and sentiment,” said the ratings firm.Previously chastened Penn bulls appear undaunted by the Moody’s downgrade, sending the stock higher by almost 42 percent today (at this writing) on volume that is already more than triple the daily average.raging bull casino no deposit

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royal ace casino 300 no deposit bonus codes” That grade is the fourth-lowest in non-investment grade territory on the Moody’s scale.“More specifically, the weaknesses in Penn’s credit profile, including its exposure to travel disruptions and discretionary consumer spending, have lEven if the situation is rapidly resolved, that doesn’t necessarily mean gamblers will rush back to casinos.Cash ConsiderationsWith a zero revenue environment setting in for gaming companies, Wall Street is growing concerned about the cash positions of operators and their respective survival timelines.Staff at Encore Boston Harbor are also being paid while that venue is shuttered.Even if the situation is rapidly resolved, that doesn’t necessarily mean gamblers will rush back to casinos.captain jack casino sign up bonus