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Penn National has additionally set aside . island view casino buffet 7 million for the company’s COVID-19 Emergency Relief Fund. 7 card poker games free online More than 1,000 employees have received financial assistance through the program. free keno slot machines Century Casinos (NASDAQ:CNTY) is selling its eponymous gaming establishment in Calgary, Canada for . 5 million. While the price tag free online slots playis 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. free casino slots games no download no registration (Image: Colorado Springs Gazette)Under the terms of the agreement, an entity known as 2267166 Alberta Ltd. online casino iowa is paying . cache creek casino arcade Can You Play Free Online Poker Whba 5 million, based on July 31 US dollar/Canadian dollar exchange rates, to purchase Century Casino Calgary.

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A three-year quarterly earnout is also part of the deal. casinos online 888 free casino games slot machines The Calgary casino is one of our smaller operations, contributing . 4 million in net operating revenue and . cliff castle casino mask policy 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. pechanga casino floor map But Century already received the . kansas star casino buffet 5 million in cash for the purchase price, which isn’t refundable. Tiger King Casino Free Slots Fsoo 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. clearwater casino win lob statement

First, wringing . 5 million out of one property isn’t too shabby for a company with a market capitalization of less than 0 million. lucky tiger casino bonus codes july 2021 Roulette Casino Simulator Oecp Second, Century Resorts Alberta, the unit of the operator that’s selling the Calgary casino,free online slots play 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. best online casino real money slots 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. 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