slots 500 casinoWhile S&P pulled that dubious distinction from Penn, the research firm reiterates a “B” rating — deep into junk territory — with a “negative” outlook on the operator’s debt.49 percent.Namely, Sin City is now highly dependent on leisure travel from neighboring California.palace station hotel casino resort feeFollowing the coronavirus reopening, many regional operators got leaner, trimming headcount and abandoning less profitable offerings while boosting margins to Wall Street’s liking.S&P took a dubious label off the operator’s credit grade today.In the largest US gaming center, Penn operates the Tropicana and the M Resort.play free 3 reel slot machines

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casinos within 50 milesBut Bain sees risks by way of a lack of liquidity among high-end players, new room supply coming to market, and a dearth of Hong Kong dollars flowing into the gaming hub because travel remains limited between the two SARs.However, despite the fact that S&P’s note hit the wires on the same day that the Barstool Sportsbook app launched in Pennsylvania, the ratings agency makes no mention of any of those topics.“Given the lack of domestic/international travel, lack of near/intermediate-term group and business events, the beginning of a long Las Vegas recovery is currently levered to California leisure traffic, which offers little visibility/reason for investor enthusiasm,” said Bain.blackjack online bettingGood news continues piling up for Penn National Gaming (NASDAQ:PENN) investors, as Standard & Poor’s (S&P) removed the casino operator’s debt from the “CreditWatch Negative” group.That’s a negative at a time when the Golden State economy is still reeling from the effects of the pandemic.But its 39 other venues are primarily in regional, not destination markets.mychoice casino status match

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hard rock casino locations(Image: Associated Press)Companies on the CreditWatch Negative list are often financially strained, frequently sport non-investment grade credit ratings, and are at risk of further downgrades.As Bain notes, California accounted for a quarter of all US jobless claims in the last week of August.The slots area at Penn National’s Hollywood Casino in Columbus, Ohio.Bain added that Wynn has less exposure to the Cotai Strip than rivals Las Vegas Sands (NYSE:LVS) and Melco Resorts & Entertainment (NASDAQ:MLCO), a relevant point because border expansions and new capacity could drive traffic to that area of Macau.But Bain sees risks by way of a lack of liquidity among high-end players, new room supply coming to market, and a dearth of Hong Kong dollars flowing into the gaming hub because travel remains limited between the two SARs.5x next year, which is pivotal because that threshold, if topped, could trigger a debt downgrade.boomtown casino westbank louisiana