Table Games At Seminole Casino Increasing Independence is PositiveUnder pressure from activist investors to wring some value from its property holdings, MGM spun-off MGP in 2016. foxwood resorts casino 301 Since then, the parent company maintained a large stake in the REIT, preventing Wall Street from viewing the property firm as truly independent. Borgata Casino Rooms Zcbi However, the Mirage operator’s financial stake in the real estate company is decreasing, something analysts view as a long-term positive for MGP. slot casino zoo “Upon completion of the 0 million operating partnership units redemption in May 2020, MGM Resorts has approximately 172 million units, or a 56. can a casino rig a roulette table Raging Bull Casino Free No Deposit Bonus Codes 2021 7% economic ownership in MGP, down from 67.

7% at year-end 2019,” according to Moody’s. “MGM Resorts has 0 million remaining under its agreement with MGP to purchase up to . 4 billion of MGP’s units for cash through February 2022. lucky tiger casino download We expect future redemption to reduce the ownership to below 50%. downstream casino events today ”When MGM’s position in the REIT drops below 30 percent, an arrangement kicks in whereby costs to enhance properties incurred by the operator will be reimbursed by the landlord in exchange for increases to master lease terms.

Key Insights and Expert Analysis

UBS is revising lower its 2020 gross gaming revenue (GGR) forecast for Macau nearly four months after the coronavirus forced a 15-day shutdown of casinos there. free slots huff n puff UBS analyst Robin Farley, seen here in a 2010 CNBC interview, is cutting her 2020 Macau revenue forecast. (Image: CNBC)In a recent note to clients, UBS analyst Robin Farley projects a 44 percent de7 live asia casinocline in revenue this year for the world’s largest gaming center, down from a prior estimate calling for a 31 percent contraction. z casino jobs We are lowering gross gaming revenue estimates on slower visitor recovery in Macau, as we expect a partial resumption of the Individual Visit Scheme from June/July in Guangdong, later than our May expectation earlier,” she said. The individual visit scheme (IVS) is a vital travel permit used by citizens of mainland China to enter Macau, and many of them are considered premium mass players or high rollers.

Beijing froze IVS issuance late last year in advance of President Xi Jinping’s visit to the peninsula. sycuan casino job openings But experts believed the halt would be lifted early this year. free online slots spartacus The coronavirus pandemic subsequently altered those plans. 7 card hold em poker Still Struggling With Travel BansAfter dealing with a 93. 2 percent decline in GGR last month, Macau concessionaires continue struggling with travel restrictions that are keeping visitors away from the gaming mecca. lucky dragon net games caesar casino atlantic city phone number Sunset Station Casino Concerts Fkzi

Dealing a blow to the peninsula’s recovery efforts, Hong Kong earlier this week extended to July 7 a 14-day quarantine policy for anyone arriving there from Macau. Mainland China, Hong Kong, and Taiwan combine for about nine of every 10 visitors to Macau. miami club casino no deposit peppermill casinos inc properties “Guangdong, Macau, and Hong Kong have discussed allowing cross-border travels with mutually recognized health-monitoring measures, so the potential convenience of that would be a positive for Macau gaming, though timing is unclear,” said Far7 live asia casinoley. Guangdong is the mainland province nearest to Macau. Experts believe if that province relaxes travel restrictions with the gaming hub, other mainland regions will rapidly follow suit. casino in philadelphia

Some Good NewsThere are some indicators that Macau gaming numbers will bounce back later this year. For example, VIP traffic is somewhat steady on the peninsula, and there’s belief that Chinese gamblers won’t venture far from home in the coming month. mychoice casino sign up Farley, the UBS analyst, says the combination of travel bans and no COVID-19 vaccine will keep Chinese gamblers away from other markets, such as Las Vegas and Singapore, which is to the benefit of Macau operators. Hotels Near Hard Rock Casino Lake Tahoe Ikvz She also highlighted the strong cash positions of Macau concessionaires, noting most have ample cash on hand and access to more capital, if needed, to endure what’s now a trying operating environment. As just two examples of lenders’ willingness to