Tachi Palace Casino Theater first quarter and into the early part of the June quarter, credit rating agencies were quick to lower grades and outlooks on a broad swath of gaming entities, including integrated resort operators, device manufacturers, and sportsbook firms. foxwoods resort casino reservations For its part, Moody’s says it’s lowered ratings on 900 corporate debt issues across all sectors this year, with 797 of those bonds already residing in junk territory prior to the 2020 reduction. Hotel Y Casino Bellagio Ddwt The research firm said of the other 103 downgrades 70 retained investment-grade status, while 33 lost that designation and moved to the high-yield space. Among the familiar gaming names Moody’s tagged with lower grades or “negative” outlooks this year are MGM Resorts International (NYSE:MGM), William Hill (OTC:WIMHY), and Penn National Gaming (NASDAQ:PENN), among others. Of interest to fixed income investors considering the gaming industry that are clinging to investment-grade marks, Moody’s says 88 percent of the 33 issues it lowered to junk for the first time carried “negative” outlooks prior to those downward revisions. Not All Bad NewsFor any company, gaming or otherwise, carrying high-yield bond ratings increases financing costs because if these firms tap debt markets, investors demand higher interest payments for what they perceive as elevated risk. harrah s casino anderson indiana citizen jackpot casino free slot machines However, in the COVID-19 climate, the Federal Reserve is backstopping the junk bond market, restoring investors’ faith in the asset class while pushing the yield on the Mam resorts casinorkit iBoxx USD Liquid High Yield Index down to 4. 42 percent.

Specific to the gaming industry, companies aren’t having issues raising capital even as the pandemic punishes profits. Whether it’s selling bonds, tapping credit revolvers, or issuing new equity, casino operators, gaming real estate firms, device makers, and sportsbook operators are finding receptive audiences in the investment community for their capital-raising efforts. desert diamond casino news Underscoring that point is the fact that the bulk of the cash raised by gaming entities occurred while US casinos were shut down, confirming investors are willing to roll the dice — as long as they’re compensated for the risk — on the industry bouncing back. thunder valley casino roseville Tony Rodio led the former Caesars Entertainment corporation through its . table games at belterra casino 3 billion merger with Eldorado Resorts. Now, the gaming executive is leading the newly formed group’s efforts to win approval to build a casino resort in Danville, Va. Former Caesars CEO Tony Rodio (far left) celebrates with Wayne Newton at the reopening of Caesars Palace. Gambler Ben Laparne was the first casino guest to roll the dice on June 4.

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(Image: Denise Truscello/Caesars Entertainment)It became official last week that voters in Danville will be asked during the November 2020 election whether they wish to authorize a commercial casino establishment in their city. peppermill casino promo code lucky creek casino payout Danville Circuit Court Judge Joseph Milam issued the ballot referendum order after the Danville City Council voted in favor of m resorts casinothe action. Rodio — who was replaced by former Eldorado Resorts CEO Tom Reeg following the merger of the casino companies — is now leading the new Caesars Entertainment push to expand into Virginia. fantasy springs casino login Pechanga Casino Wiki Skid This week, he unveiled Caesars for Danville, a campaign that hopes to convince area voters to approve the casino resort. Mgm Casino Rooms Zfow The campaign is led by Rodio and four committee co-chairs, including Virginia Delegate Danny Marshville (R-Danville), Danville Mayor Alonzo Jones, Averett University President Dr. mountaineer casino near me Tiffany Franks, and Tammy Wright-Warren, a minority investor in the project. nearest mgm casino casino roulette gratuit 777 Chumba Casino Terms And Conditions Ppgx Netherlands Casino CampaignVirginia Gov. Ralph Northam (D) signed legislation in April that allows cities to seek approval from their residents regarding a casino.

The bill is designed as an economic driver for downtrodden towns. seminole casino events Danville is one of the five qualifying cities. free casino slot games online no download But to move forward with a casino, voters must first lend their support. royal ace casino 2020 no deposit bonus codes Only a simple majority backing is needed. Rodio says the Caesars for Danville campaign will lake tahoe casinos mgm