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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. roulette tables Century Casinos (NASDAQ:CNTY) is selling its eponymous gaming establishment in Calgary, Canada for . Online Slots For Money In Michigan Jqek 5 million. online poker las vegas casino While the price tag seminole casino dreb codeis small by industry standards, the company is earning praise from one analyst. 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 . Bicycle Casino Instagram Eamw 5 million, based on July 31 US dollar/Canadian dollar exchange rates, to purchase Century Casino Calgary. lobstermania 2 slots free online

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A three-year quarterly earnout is also part of the deal. roulette casino en ligne gratuit The Calgary casino is one of our smaller operations, contributing . 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. The sale, which is expected to close in the fall of this year, must be approved by the Alberta Gaming, Liquor and Cannabis Commission. But Century already received the . twin river casino spa harrah s casino valet parking 5 million in cash for the purchase price, which isn’t refundable. roulette casino game odds Those proceeds bolster the operator’s balance sheet, according to Haitzmann and Hoetzinger. borgata casino hotel rooms 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. Chumba Casino Sc To Usd Xryw

First, wringing . ruby club slots gift code 5 million out of one property isn’t too shabby for a company with a market capitalization of less than 0 million. online gambling promotions Ruby Slots No Deposit Bonus Codes May 2020 Qvjt Second, Century Resorts Alberta, the unit of the operator that’s selling the Calgary casino,seminole casino dreb code 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. 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. 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. Small Company, Big PotentialThe analyst sees Century as one of the best ideas among smaller gaming operators. choctaw casino 4th of july 2020 boomtown casino jobs 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 harrah s cherokee casino jobs mgm grand casino baltimore maryland