Is Morongo Casino Open m Fox News suggests Trump has a tough road ahead. In a theoretical Biden vs. Are There Any Free Slot Games Ujgn 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. boomtown casino near me Red Rock Resorts Inc. betrivers casino promo code (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. is pechanga 18 and over 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. chumba casino owner ”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. play poker online free india ”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. turtle creek casino hotel leelanau sands The company acquired the Palms in 2016 for 2. Cashman Casino Download For Android Ihty 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. casino card game rules Encore Casino Ddpz “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. “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.

Key Insights and Expert Analysis

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. drake parq casino 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. online casino poker echtgeld North Fork has been slowed by legal wranglings and may not even come to fruition. Over the near-term, Red Rock may prioritize deleveraging its balance sheet, according to Shojaian. hard rock casino lake tahoe arcade free slot games murka At the end of the first quarter, the company had 9. Raging Bull Login Casino Iory 2 million in cash on hand, but billion in debt. used casino roulette table admiral casino sheffield

“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. boulder station casino pizza online casino money train ”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. is harrah s casino in lake tahoe open Bet On Boyd In a separate note, Shojaian started coverage of Boyd Gaming Corp. (NYSE: BYD) with an “outperform” rating and a price target, well above last Friday’s close of . 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