M Casino Little River m Fox News suggests Trump has a tough road ahead. harrah s cherokee casino update In a theoretical Biden vs. the mgm grand casino Brian Christopher Slots First Video Ituu Netherlands Trump matchup, the poll conducted by Braun Research in New Jersey found that the former VP has a 10-point lead on the 45th president. chumba casino dispute Draftkings Casino Live Chat Caij Red Rock Resorts Inc. online slots real money oklahoma (NASDAQ: RRR), the operator of 20 casinos, could be a compelling bet for investors in the future. But at least one analyst sees some difficulties in estimating the impact of the company’s efforts to ramp up the Palms Las Vegas following an expensive renovation of the off-Strip property.

Red Rock’s efforts to ramp up the Palms Las Vegas could prove tricky for the stock. (Image: Palms Las Vegas)Wolfe Research analyst Jared Shojaian initiated coverage of Red Rock Resorts shares with a “peer perform” rating, which is the equivalent of a “hold. roulette casino royale ”In a note out last Friday, Shojaian said Red Rock “is an interesting story, but we’re initiating with a Peer Perform rating largely because of our concerns that consensus estimates may be too aggressive with difficulty forecasting the Palms ramp. resorts casino deposit match ”Las Vegas-based Red Rocks is close to finalizing 1 million in refurbishments at the Palms and the Palace Station, another Las Vegas off-Strip gaming property. desert diamond casino expansion The company acquired the Palms in 2016 for 2. 5 million and the effort to add new clubs and dining options while updating the venue’s gaming floor and guest rooms has proven costly.

Key Insights and Expert Analysis

“RRR is now entering harvest mode – on our 2020 estimates we calculate a robust 14% free soaring eagle casino event centercash flow yield,” said Shojaian. oxford casino rewards “However, there is inherently more forecast error forecasting (sic) the ramp at Palms, returns on the renovation could disappoint given it’s more of a hybrid property, and we fear there is risk out-year estimates could be too aggressive,” he added. big fish casino vip levels Near-Term RisksAs Shojaian points out, Red Rock derives 14 percent of its earnings before interest, taxes, depreciation and amortization (EBITDA) from managing the Graton Resort & Casino, a tribal gaming property near Rohnert Park, California. clearwater casino images That management deal expires in November 2020 and Shojaian does not see it being renewed. Red Rock’s Graton pact could be replaced with a similar accord to run a new project known as North Fork, a proposal by California’s Mono tribe to build a casino off highway 99 near Madera. resorts casino 100 free spins code Online Casino Wv Cxef North Fork has been slowed by legal wranglings and may not even come to fruition. black oak casino winners 2020

Over the near-term, Red Rock may prioritize deleveraging its balance sheet, according to Shojaian. little river casino mi clearwater casino summer concerts 2021 At the end of the first quarter, the company had 9. free real casino slot games 2 million in cash on hand, but billion in debt. “In the near-term we also expect RRR to prioritize deleveraging,” said the Wolfe Research analyst. “Historically RRR has not aggressively returned capital, and we may see additional development opportunities take priority over share repurchases. ”Like many of its larger peers, Red Rock pays a dividend, but the quarterly payout of 10 cents a share has not increased since it wsoaring eagle casino event centeras started in 2016.

Bet On Boyd In a separate note, Shojaian started coverage of Boyd Gaming Corp. old club player casino (NYSE: BYD) with an “outperform” rating and a price target, well above last Friday’s close of . Ruby Slots Redeem Codes Xwoc 36. The analysts sees Boyd — whose properties include the Cannery, Fremont, and Sam’s Town in Las Vegas — as offering the most attractive valuation among regional gaming companies and growth catalysts, such as strong demand in Las Vegas and the possibility to acquire assets that Caesar’s Entertainment Corp. (NASDAQ: CZR) could sell if it is acquired. Shojaian also forecasts a double-digit free cash flow yield for Boyd with the potential for what the analyst called aggressive return of capital.

Boyd is already doing that, having recently boosted its