Black Oak Casino Gambling Age un, they’re spending more time and more money. ”Penn National Gaming operates 41 properties across 19 states. seneca niagara casino careers All of its casinos are once again open, with two exceptions — Zia Park Casino Hotel & Racetrack in New Mexico, and Tropicana Las Vegas. casino near me florida Penn additionally operates online gambling and mobile sports betting and holds a 36 percent stake in Barstool Sports. Winning FormulaPenn National Gaming’s portfolio diversity allowed it to better weather the COVID-19 storm. Snowden told investors and analysts that no single state accounts for more than 15 percent of its revenue, and that has “proven to be a significant benefit. ”We believe the company is uniquely well-positioned to benefit from the recent strength in regional gaming markets,” added the CEO. foxwoods resort casino 301 logo Snowden also said the company is investing in new technologies that reduce reliance on physical cash inside its casinos. The company is working alongside state regulatory agencies on implementing such technologies. Along with providing a financial update, Penn National revealed Thursday that it would be extending medical benefits to all furloughed workers through the end of the month.

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. Golden Nugget Casino Las Vegas Entertainment Zubc Century Casinos (NASDAQ:CNTY) is selling its eponymous gaming establishment in Calgary, Canada for . Bellagio Casino Host Email Dutr 5 million. While the price tag four winds casino 11111 wilson rdis 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. wynn las vegas sky casino Cliff Castle Casino Addreb Clsc (Image: Colorado Springs Gazette)Under the terms of the agreement, an entity known as 2267166 Alberta Ltd. four winds casino sign up bonus Error Code: 521 Ievf Australia is paying . poker casino as thunder valley casino glabdoor betrivers deposit code 5 million, based on July 31 US dollar/Canadian dollar exchange rates, to purchase Century Casino Calgary. free online slots play free no download

Key Insights and Expert Analysis

A three-year quarterly earnout is also part of the deal. viejas casino resort in alpine ca The Calgary casino is one of our smaller operations, contributing . 4 million in net operating revenue and . roulette casino hack 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. peppermill casino airport shuttle But Century already received the . 5 million in cash for the purchase price, which isn’t refundable. Those proceeds bolster the operator’s balance sheet, according to Haitzmann and Hoetzinger. black bear casino job openings 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.

First, wringing . 5 million out of one property isn’t too shabby for a company with a market capitalization of less than 0 million. Second, Century Resorts Alberta, the unit of the operator that’s selling the Calgary casino,four winds casino 11111 wilson rd 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. lake tahoe casino age 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. viejas casino live music las atlantis casino australia Wednesday’s transaction announcement is a key incremental positive, as it alleviates potential concerns about liquidity, avoids any long-term liabilities or dilution, and