Harrah S Casino Metropolis un, they’re spending more time and more money. raging bull casino september 2021 ”Penn National Gaming operates 41 properties across 19 states. Desert Diamond Casino Shows Jusa All of its casinos are once again open, with two exceptions — Zia Park Casino Hotel & Racetrack in New Mexico, and Tropicana Las Vegas. riversweeps online casino app android download for android Penn additionally operates online gambling and mobile sports betting and holds a 36 percent stake in Barstool Sports. Winning FormulaPenn National Gaming’s portfolio diversity allowed it to better weather the COVID-19 storm. fanduel casino bonus codes choctaw casino kinder la Snowden told investors and analysts that no single state accounts for more than 15 percent of its revenue, and that has “proven to be a significant benefit. wild horse pab casino sports book ”We believe the company is uniquely well-positioned to benefit from the recent strength in regional gaming markets,” added the CEO.

Snowden also said the company is investing in new technologies that reduce reliance on physical cash inside its casinos. The company is working alongside state regulatory agencies on implementing such technologies. kansas star casino woodfire grill Along with providing a financial update, Penn National revealed Thursday that it would be extending medical benefits to all furloughed workers through the end of the month. silver oak casino code Penn National has additionally set aside . twin river casino news 7 million for the company’s COVID-19 Emergency Relief Fund. More than 1,000 employees have received financial assistance through the program. Century Casinos (NASDAQ:CNTY) is selling its eponymous gaming establishment in Calgary, Canada for .

Key Insights and Expert Analysis

5 million. mountaineer casino resort west virginia While the price tag is the buffet open at foxwoods casinois small by industry standards, the company is earning praise from one analyst. liberty.slots Century Casinos is selling its Calgary venue, seen here, in what one analyst is calling a creative deal. the lodge cliff castle casino (Image: Colorado Springs Gazette)Under the terms of the agreement, an entity known as 2267166 Alberta Ltd. is paying . 5 million, based on July 31 US dollar/Canadian dollar exchange rates, to purchase Century Casino Calgary. A three-year quarterly earnout is also part of the deal. when will seven feathers casino reopen Bellagio Casino Colombo Owner Zpne

The Calgary casino is one of our smaller operations, contributing . 4 million in net operating revenue and . 2 million in adjusted earnings before interest, taxes, depreciation and amortization (EBITDA),” said Century co-CEOs Erwin Haitzmann and Peter Hoetzinger in a statement. The sale, which is expected to close in the fall of this year, must be approved by the Alberta Gaming, Liquor and Cannabis Commission. But Century already received the . z casino blackhawk 5 million in cash for the purchase price, which isn’t refundable. Those proceeds bolster the operator’s balance sheet, according to Haitzmann and Hoetzinger.

Creative TransactionA . 5 million price tag for a gaming industry transaction usually isn’t eye-catching, but in this case, it’s notable for a few reasons. encore casino free drinks First, wringing . Poker Casino Baden Lcmu 5 million out of one property isn’t too shabby for a company with a market capitalization of less than 0 million. is the lotus hotel and casino real Second, Century Resorts Alberta, the unit of the operator that’s selling the Calgary casino,is the buffet open at foxwoods casino is retaining ownership of the sports bar, bowling, and entertainment amenities at the venue, and is keeping the real estate, meaning the buyer will be paying Century rent. The lease terms are 8,102 annually for three years. In reiterating a “buy” rating on Century, Union Gaming analyst John DeCree said Century’s Calgary deal is one of the industry’s most creative since the coronavirus pandemic started. Chumba Casino Games Nwmk

The investment community is placing added emphasis on gaming industry balance sheets in the current environment, and DeCree added that Century parting with the Calgary casino for immediate cash is more prudent than borrowing capital at punitive interest rates, as some operators have during the pandemic. real cash online casinos Small Company, Big PotentialThe analyst sees Century as one of the best ideas among smaller gaming operators. Wednesday’s transaction announcement is a key incremental positive, as it alleviates potential concerns about liquidity, avoids any long-term liabilities or