Online Casino Offers  of 34. Morongo Casino Buffet Open Elxc 6 million as of Sept. hallmark casino bonus codes 2021 Sunset Station Hotel And Casino Las Vegas Reviews Lmfg 30, it looks like Twin River has repurchased approximately 4 million shares of its stock since late July, according to Stifel gaming analyst Brad Boyer. telephone number for scarlet pearl casino roulette casino game strategy Ultimately, we believe the repurchase activity should send a strong message to investors as to how management views the current valuation, and we would expect shares to trade higher,” said Boyer in a note provided to Casino. viejas casino hotel san diego mountaineer casino lbv org. In June, TRWH, which also operates gaming properties in Colorado, Delaware and Mississippi, said it was committing 0 million to paying dividends and a share repurchase program. With Friday’s close at . harrah s casino atlantic city

08, the stock yields 0. 45 percent. intertops casino guru Good TimingRegardless of industry or sector, management teams like deployment share buyback plans because it’s a tax-efficient way of returning capital to shareholders. casino in lake tahoe nevada Investors pay taxes on dividends, but not on share repurchases. Additionally, when a company reduces its shares outstanding, its earnings per share increase. However, historical data indicates companies are often bad at timing their buybacks, opting to skimp on repurchases when their stock is slumping and unveiling large repurchase schemes after the shares have rallied. is santa claran casino open For example, buyback levels among US companies dwindled in 2008 during the global financial crisis, but have surged in recent years as the bull market has aged.

Key Insights and Expert Analysis

Said another way, TRWH is the rare example of a company deploying capital for share buybacks amid a slump in its stock pcasino near me arizonarice. Over the summer, the stock slid as management acknowledged increasing competition from Wynn Resorts’ Encore Boston Harbor in Everett, Mass. That venue opened in late June. Last week, Twin River said table game revenue at its eponymous casino in Lincoln, R. I. plunged 40 percent in August, while slot turnover was off 16 percent on a year-over-year basis. winstar world casino jackpot winners In July, the company reported table and slot revenue declines of 34 percent and 17 percent, respectively.

Boyer said TRWH is being hindered by initial trial play at Encore Boston Harbor and elevated promotional activity, which should “gradually taper off, consistent with what we have seen with other new openings. ”Plenty of FirepowerThe analyst estimates TRWH has about 1 million left it can use for buybacks and dividends. free casino slots machines las vegas games “We believe management not only honored its commitment to return capital, but also sent a clear message to investors as to how it views the shares’ current valuation,” said Boyer. draftkings casino free credits 1 Dollar Slot Machines Fxyt “We positively view the buyback activity and expect it to push shares higher. ”Twin River’s buyback sparked more bullishness from Boyer. blackjack casino machine The Stifel analyst reiterated a “buy” rating on the stock, while boosting his price target on the name to , implying upside of about 36 percent from Friday’s close. hallmark casino free chip code The PGA Tour is in Las Vegas this weekend for the Shriners Hospitals for Children Open at TPC Summerlin.

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