Golden Nugget Casino Mibibippi Increasing Independence is PositiveUnder pressure from activist investors to wring some value from its property holdings, MGM spun-off MGP in 2016. Since then, the parent company maintained a large stake in the REIT, preventing Wall Street from viewing the property firm as truly independent. casino near me kansas casino table games in oklahoma However, the Mirage operator’s financial stake in the real estate company is decreasing, something analysts view as a long-term positive for MGP. choctaw casino food “Upon completion of the 0 million operating partnership units redemption in May 2020, MGM Resorts has approximately 172 million units, or a 56. 7% economic ownership in MGP, down from 67. 7% at year-end 2019,” according to Moody’s.

“MGM Resorts has 0 million remaining under its agreement with MGP to purchase up to . 4 billion of MGP’s units for cash through February 2022. hollywood casino morgantown pa jobs We expect future redemption to reduce the ownership to below 50%. morongo 2 casinos ”When MGM’s position in the REIT drops below 30 percent, an arrangement kicks in whereby costs to enhance properties incurred by the operator will be reimbursed by the landlord in exchange for increases to master lease terms. UBS is revising lower its 2020 gross gaming revenue (GGR) forecast for Macau nearly four months after the coronavirus forced a 15-day shutdown of casinos there. gold coast casino is it open UBS analyst Robin Farley, seen here in a 2010 CNBC interview, is cutting her 2020 Macau revenue forecast.

Key Insights and Expert Analysis

(Image: CNBC)In a recent note to clients, UBS analyst Robin Farley projects a 44 percent deblack bear casino buffet reviewscline in revenue this year for the world’s largest gaming center, down from a prior estimate calling for a 31 percent contraction. cashman casino download for android 3 dice online casino We are lowering gross gaming revenue estimates on slower visitor recovery in Macau, as we expect a partial resumption of the Individual Visit Scheme from June/July in Guangdong, later than our May expectation earlier,” she said. The individual visit scheme (IVS) is a vital travel permit used by citizens of mainland China to enter Macau, and many of them are considered premium mass players or high rollers. Beijing froze IVS issuance late last year in advance of President Xi Jinping’s visit to the peninsula. online casino jobs south africa But experts believed the halt would be lifted early this year. The coronavirus pandemic subsequently altered those plans.

Still Struggling With Travel BansAfter dealing with a 93. 2 percent decline in GGR last month, Macau concessionaires continue struggling with travel restrictions that are keeping visitors away from the gaming mecca. Dealing a blow to the peninsula’s recovery efforts, Hong Kong earlier this week extended to July 7 a 14-day quarantine policy for anyone arriving there from Macau. Mainland China, Hong Kong, and Taiwan combine for about nine of every 10 visitors to Macau. el dorado casino bakery reno nv Chinook Winds Casino Halloween Siiy “Guangdong, Macau, and Hong Kong have discussed allowing cross-border travels with mutually recognized health-monitoring measures, so the potential convenience of that would be a positive for Macau gaming, though timing is unclear,” said Farblack bear casino buffet reviewsley. downstream casino resort Guangdong is the mainland province nearest to Macau. Desert Diamond Casino Jackpot Winners Mjrb

Experts believe if that province relaxes travel restrictions with the gaming hub, other mainland regions will rapidly follow suit. Some Good NewsThere are some indicators that Macau gaming numbers will bounce back later this year. How Old To Gamble At Chukchansi Dmqa Canada For example, VIP traffic is somewhat steady on the peninsula, and there’s belief that Chinese gamblers won’t venture far from home in the coming month. is chumba casino legit Farley, the UBS analyst, says the combination of travel bans and no COVID-19 vaccine will keep Chinese gamblers away from other markets, such as Las Vegas and Singapore, which is to the benefit of Macau operators. twin river casino mask She also highlighted the strong cash positions of Macau concessionaires, noting most have ample cash on hand and access to more capital, if needed, to endure what’s now a trying operating environment. poker table casino near me hallmark casino erfahrungen As just two examples of lenders’ hard rock casino careers Blackjack En Casino Fqch