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Boulder Station Casino in Las Vegas. hard rock casino 4th of july An analyst is bullish on owner Red Rock Resorts. (Image: Las Vegas Review-Journal)Joining some of his sell-side colleagues in doing so, Greff applauded management for a renewed focus on boosting margins in the coronavirus environment. It’s a scenario prompting the operator to keep four of its Southern Nevada venues, including Palms Las Vegas, shuttered until next June. mychoice casino facebook paragon casino resort We like how RRR is managing the business (improved marketing efficiency, shifting from closed properties to open ones in an earnings before interest, taxes, depreciation and amortization (EBITDA) and margin accretive way) and focusing on converting a higher proportion of EBITDA into free cash flow, deploying this to reduce its balance sheet leverage,” said Greff in ablack bear casino lakewood wa note to clients. new casino table games firekeepers casino reviews When the company reported third-quarter results late last month, analysts queried management about the fate of the Fiesta Henderson, Fiesta Rancho, Palms, and Texas Station — the properties that remain closed. gold coast casino telephone number Executives are taking a measured approached to those properties, noting that patrons that usually frequented those venues are making their way to other Red Rock casinos. winstar world casino and resort age limit

Key Insights and Expert Analysis

At the end of September, the operator had almost 9 million in cash on hand and billion in debt. hard rock casino lake tahoe concerts How To Win Quick Hit Slot Machine Utic Positives in the Locals MarketA key constituency for Red Rock is the group known as Las Vegas locals, or LVLs. That segment includes a variety of customers, spanning staffers from Strip casinos to well-heeled retirees that moved to Nevada to enjoy a lower cost of living in their golden years. At the onset of the pandemic, some analysts fretted about operators’ exposure to the LVL group, hypothesizing that mass furloughs and layoffs at Strip resorts would pinch companies like Red Rock dependent on the locals demographic. online casino philippines no deposit bonus There’s something to that theory, because Nevada had an unemployment rate of 9. lucky tiger casino coupon code 15 percent in September, one of the highest in the nation. pictures of lake tahoe casinos Greff, the JPMorgan analyst, sees Red Rock as less dependent on employees from Strip casinos and benefiting from other regional trends.

“We come away impressed with RRR’s resolve in maximizing free cash flow at its simple business model, a focus on one major gaming market, the LV Locals, whose economic underpinninblack bear casino lakewood wags are driven by population growth and less dependency on the health of the LV Strip versus 12 to 15 years ago, when the correlation was relatively high,” he said. online casino 500 welcome bonus Mostly BullishGreff tags Red Rock with a price target, implying upside of about 20 percent from the Nov. Mohegan Sun Casino Scranton Srfq 12 close. He arrives at that forecast based on the estimate of 9. encore casino near me 5x 2022 enterprise value/EBITDA, which he says is attractive relative to the operator’s history. The consensus Wall Street projection on the name is . Nine analysts covered the stock, six with the equivalents of “buy” or “strong buy” ratings. salary of a casino blackjack dealer

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