Winstar World Casino Tribe ring a conference call held by the Nevada Resort Association … to mean that events that included food and beverage services could be held to the occupancy standards of restaurants at 50 percent capacity,” the complaint detailed. call harrah s casino cherokee north carolina seminole casino gift cards clearwater casino calendar Casino FinesNevada’s Gaming Commission is collecting fines due to casinos violating COVID-19 protocols. mychoice hollywood casino toledo ohio online casino party poker Along with the ,000 penalty on Sahara and Grand Sierra, the NGCB has recommended the Gaming Commission impose penalties of ,000 on other companies that have allegedly violated orders. The NGCB says Cactus Jack’s Senator Club and Jackpot Crossing has agreed to pay ,000 for mask violations. free online slots vegas world The Board says Hotel Nevada in Ely will pay ,000 for face mask breaches. Century Gaming has agreed to a ,000 penalty for not disabling its bar top games at Cheers in Winnemucca. Bowl Incline is on the hook for ,000 for also not turning off its bar terminals. casino long island thunder valley casino directions Penn National Gaming (NASDAQ:PENN) slumped Thursday after the company said it’s selling 14 million shares of equity. is las atlantis casino safe It’s a move that will raise capital, but also dilute current investors. seven feathers casino reservations On the news, the stock is lower by more than three percent in midday trading.

Slots players at Penn National’s Hollywood Casino in Toledo, Ohio. Penn stock slid today on news of a secondary offering and an analyst downgrade. (Image: Toledo Blade)Underwriters of the transaction also have a 30-day window in which they can purchase an additional 2. 1 million shares, according to a statatlantica golden palace casinoement issued by the casino operator. island view casino dining Assuming Penn sells 16. 1 million shares, it’d raise . the hard rock casino miami 11 billion, based on Wednesday’s close of . Pechanga Casino Ev Charging Jmlh In the aforementioned statement, the company doesn’t say at what price the new shares will be sold. But secondary offerings are usually marketed at prices below current market value. chukchansi casino employment Hence, stocks frequently decline on the news. oxford casino win lob statement

Key Insights and Expert Analysis

Penn is continuing a trend of gaming companies capitalizing on resurgent equity to raise capital via secondary sales. As stocks rallied off the March lows, casino and sportsbook operators sold billions worth of new equity to bolster balance sheets. Penn previously tapped capital markets in May when it sold 0 million worth of bonds and equity. At the end of the second quarter, the gaming company had . 2 billion in cash and . 8 billion in debt. Downstream Casino From My Location Clpr More Thursday TroubleContributing to Penn’s trouble today is a rare analyst downgrade. Macquarie analyst Chad Beynon lowered his rating on the gaming outfit to “neutral” from “outperform,” citing “stretched valuation,” among other reasons. Captain Jack Casino No Deposit Bonus Dec 2020 Echb Beynon also pointed to high leverage, fixed costs Penn faces in the form of property leases, and the likelihood of an “arms race” when it comes to marketing costs, as the company ramps up competition against rivals such as DraftKings and FanDuel. Still, the analyst boosted his price target on Penn stock to , up from . casino slot play

Following earlier life-rafting events in 1Q, PENN made strategic moveatlantica golden palace casinos (Trop LV trade for rent credits, equity/debt raise, cost cutting) to shore up the balance sheet for 2020. Investors became increasingly more comfortable with the core business, while beginning to recognize the Barstool value to the PENN brand,” said Beynon in a note to clients. He’s the second analyst in a month to downgrade Penn on valuation concerns. However, most of the sell-side community is wildly enthusiastic about the name, with some forecasting moves to or . Coushatta Casino Kinder La Chalets Obeb Australia Barstool Sportsbook UpdatePenn’s Barstool Sportsbook mobile app went live across Pennsylvania last weekend, providing Wall Street with another source of excitement. online casino 100 free spins In a filing with the Securities and Exchange Commission (SEC) today, the company said the sports betting app was downloaded 30,000 times last weekend in the Keystone State and 35,000 times during a three-day soft launch. Penn said in