Seneca Niagara Casino Update ring a conference call held by the Nevada Resort Association … to mean that events that included food and beverage services could be held to the occupancy standards of restaurants at 50 percent capacity,” the complaint detailed. Casino FinesNevada’s Gaming Commission is collecting fines due to casinos violating COVID-19 protocols. Along with the ,000 penalty on Sahara and Grand Sierra, the NGCB has recommended the Gaming Commission impose penalties of ,000 on other companies that have allegedly violated orders. fanduel casino iowa The NGCB says Cactus Jack’s Senator Club and Jackpot Crossing has agreed to pay ,000 for mask violations. draftkings casino texas The Board says Hotel Nevada in Ely will pay ,000 for face mask breaches. Century Gaming has agreed to a ,000 penalty for not disabling its bar top games at Cheers in Winnemucca. clearwater casino resort Bowl Incline is on the hook for ,000 for also not turning off its bar terminals.

Penn National Gaming (NASDAQ:PENN) slumped Thursday after the company said it’s selling 14 million shares of equity. Gamble Online Real Money Slots Zjxq It’s a move that will raise capital, but also dilute current investors. On the news, the stock is lower by more than three percent in midday trading. resorts world casino uk Slots players at Penn National’s Hollywood Casino in Toledo, Ohio. free casino slot games real money wild casino mage 2020 Penn stock slid today on news of a secondary offering and an analyst downgrade. (Image: Toledo Blade)Underwriters of the transaction also have a 30-day window in which they can purchase an additional 2. 1 million shares, according to a statborgata casino towelsement issued by the casino operator.

Key Insights and Expert Analysis

Assuming Penn sells 16. palace station casino careers casino yakuza like a dragon 1 million shares, it’d raise . 11 billion, based on Wednesday’s close of . In the aforementioned statement, the company doesn’t say at what price the new shares will be sold. But secondary offerings are usually marketed at prices below current market value. Hence, stocks frequently decline on the news. Penn is continuing a trend of gaming companies capitalizing on resurgent equity to raise capital via secondary sales. wpt bicycle casino 2019

As stocks rallied off the March lows, casino and sportsbook operators sold billions worth of new equity to bolster balance sheets. island view casino near me blackjack ballroom casino uk Penn previously tapped capital markets in May when it sold 0 million worth of bonds and equity. At the end of the second quarter, the gaming company had . resorts casino bonus codes 2 billion in cash and . used casino roulette table 8 billion in debt. More Thursday TroubleContributing to Penn’s trouble today is a rare analyst downgrade. free online poker real money prizes golden nugget casino downtown vegas Macquarie analyst Chad Beynon lowered his rating on the gaming outfit to “neutral” from “outperform,” citing “stretched valuation,” among other reasons.

Beynon also pointed to high leverage, fixed costs Penn faces in the form of property leases, and the likelihood of an “arms race” when it comes to marketing costs, as the company ramps up competition against rivals such as DraftKings and FanDuel. Still, the analyst boosted his price target on Penn stock to , up from . nearest casino to charlotte nc Following earlier life-rafting events in 1Q, PENN made strategic moveborgata casino towelss (Trop LV trade for rent credits, equity/debt raise, cost cutting) to shore up the balance sheet for 2020. Sam S Town Casino Shreveport La Woep Investors became increasingly more comfortable with the core business, while beginning to recognize the Barstool value to the PENN brand,” said Beynon in a note to clients. Borgata Online Casino Games Ftxa He’s the second analyst in a month to downgrade Penn on valuation concerns. However, most of the sell-side community is wildly enthusiastic about the name, with some forecasting moves to or . Barstool Sportsbook UpdatePenn’s Barstool Sportsbook mobile app went live across Pennsylvania last weekend, providing Wall Street with another source of excitement. Casino Slot Wins 2021 Bbfy

In a filing with the Securities and Exchange Commission (SEC) today, the company said the sports betting app was downloaded 30,000 times last weekend in the Keystone State and 35,000 times during a three-day soft launch. Penn said in the filing