Aliante Casino And Spa Las Vegas un, they’re spending more time and more money. ”Penn National Gaming operates 41 properties across 19 states. online casino ocean All of its casinos are once again open, with two exceptions — Zia Park Casino Hotel & Racetrack in New Mexico, and Tropicana Las Vegas. 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. 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. ”We believe the company is uniquely well-positioned to benefit from the recent strength in regional gaming markets,” added the CEO. island view casino gulfport mibibippi phone number Snowden also said the company is investing in new technologies that reduce reliance on physical cash inside its casinos. casino 36

The company is working alongside state regulatory agencies on implementing such technologies. 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. draftkings casino nj Vip Club Player Casino No Deposit Bonus Codes 2021 Penn National has additionally set aside . 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 . 5 million. While the price tag doubledown casino on facebookis small by industry standards, the company is earning praise from one analyst.

Key Insights and Expert Analysis

Century Casinos is selling its Calgary venue, seen here, in what one analyst is calling a creative deal. (Image: Colorado Springs Gazette)Under the terms of the agreement, an entity known as 2267166 Alberta Ltd. is paying . thunder valley casino to hard rock casino 5 million, based on July 31 US dollar/Canadian dollar exchange rates, to purchase Century Casino Calgary. casino table games list A three-year quarterly earnout is also part of the deal. The Calgary casino is one of our smaller operations, contributing . soaring eagle casino games 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. clearwater casino kt tunstall coushatta casino jackpots

The sale, which is expected to close in the fall of this year, must be approved by the Alberta Gaming, Liquor and Cannabis Commission. mgm casino junkets But Century already received the . 5 million in cash for the purchase price, which isn’t refundable. online casino michigan Error Code: 521 Ukld Switzerland 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. First, wringing . 5 million out of one property isn’t too shabby for a company with a market capitalization of less than 0 million.

Second, Century Resorts Alberta, the unit of the operator that’s selling the Calgary casino,doubledown casino on facebook 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. blackjack casino how to play online slots win real money usa 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. mgm grand casino md Borgata Casino Online Phone Number Eepm 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. choctaw casino events 2021 Big Dollar Casino 100 Free Spins Inza Small Company, Big PotentialThe analyst sees Century as one of the best ideas among smaller gaming operators. best free online slots to play Wednesday’s transaction announcement is a key incremental positive, as it alleviates potential concerns about liquidity, avoids any long-term liabilities or dilution, and is cash flow neutral