Harrah S Cherokee Casino New Years Eve 2020 the Fiesta Henderson, Fiesta Rancho, Palms, and Texas Station will reopen, something that could be weighing on the stock today. In reiterating a “hold” rating on Red Rock stock, Stifel analyst Steven Wieczynski said that management could eschew the glitz and frivolities of many non-gaming amenities that are so vital to Las Vegas Strip operators, and focus more on pure gaming. bicycle casino cards Seems like management is starting to think about changing their operating strategy moving forward and going back to more of the old Station Casino model, which focused more on customers and pure gaming versus all the fancy non-gaming amenities,” Wieczynski said. viejas casino 4th july fireworks None of the aforementioned venues are on the Strip. But Station Casinos have exposure to Strip trends, which Wiecynski says could portend a “protracted cash flow recovery” relative to rival regional gaming companies.

Strip ExposureConfounding operators with Strip exposure is that many travelers are reluctant to hop on planes to get to Las Vegas without a coronavirus vaccine. Even under the rosiest of assumptions, that scenario is unlikely to change until at least early to mid-2021. ruby slots mobile download online casino real money mibouri Making matters tougher for the Sin City recovery trajectory is that following initial signs of pent-up demand during the early June reopening period, a second wave of COVID-19 cases hit California and Arizona. silver oak casino instant play That prompted some operators to say demand from vital Las Vegas drive-in markets is declining. black oak casino table games no deposit bonus casino nz As Wieczynski notes, although Red Rock doesn’mgm casino resortt operate Strip venues, the company is levered to the strength of that area.

Key Insights and Expert Analysis

“From a direct perspective, we are keenly focused on the company’s hybrid properties, led by the Palms. wild rose casino in jefferson Liberty Slots Free Bonus Codes Vbac We view the success of these properties as directly tied to the economic vibrancy along the Strip, which, in our view, raises the probability of a protracted recovery,” he said. He adds that one of the company’s core demographics is Strip staffers that frequent Station venues after their shifts. is santa claran casino open Poker Cash Games Holland Casino Rgdn Until the fiscal health of that group improves, it will be difficult for Red Rock to make a full recovery. Problemed PalmsRed Rock management said Tuesday the fate of the Palms and the other still-closed casinos will largely be determined by demand trends at the company’s properties that are currently open. Borgata Casino Phone Number Hcqo

There was no mention of the Palms being sold, a rumor that popped earlier this year, but was subsequently put to rest by management. Wieczynski says it’s anyone’s guess how the investment community will react if the Palms isn’t reopened, or if it’s sold. “We wonder how investors will react if The Palms isn’t reopened or even eventually sold? black oak casino cafe Would they applaud management for cutting ties, or put them in the penalty box because it was a bad use of capital? ” He has a price target on Red Rock stock, implying 16.

6 percent upside from current levels. Virgin Atlantic, the airline founded by British billionaire Richard Branson, has filed for bankruptcy protection in themgm casino resort United States amid the coronavirus pandemic. free casino bonus slots Richard Branson’s investment in Las Vegas will not be impeded by his Virgin Atlantic filing for bankruptcy. (Image: Tania Steere/Virgin)Executives say the move is part of a court process to restructure the company’s finances, and has the support of the airline’s major creditors and owners. harrah s casino tunica ms Delta Air Lines, which holds a 49 percent stake in Virgin Atlantic, has agreed to defer payments it is owned, and hedge fund Davidson Kempner has agreed to loan the airline nearly a quarter of a billion dollars. 3 star online casino cliff castle casino deals

“The approval process is in motion and we expect the recapitalization to come into effect in September,” Virgin Atlantic said in a statement. Branson remains the majority owner in the airliner, the man worth an estimated . 7 billion retaining a 51 percent stake. chinook winds casino overnight parking Santa Ana Pueblo Casino Idww Las Vegas ImpactThe Virgin free online slots pompeii