nearest casino gaming“The rating also reflects Penn’s high leverage along with longer-term fundamental challenges facing Penn and other regional gaming companies related to consumer entertainment preferences and US population demographics that Moody’s believes will continue to move in a direction that does not favor traditional casino-style gaming.”Moody’s lowered the operator’s credit rating to B1 from Ba3 with a negative outlook.21 percent, 29.live casino rewards73 percent, respectively, in the past three sessions.Even with its recent rally, Penn remains one of the most battered regional gaming stocks.“The rating also reflects Penn’s high leverage along with longer-term fundamental challenges facing Penn and other regional gaming companies related to consumer entertainment preferences and US population demographics that Moody’s believes will continue to move in a direction that does not favor traditional casino-style gaming.phone number for four winds casino

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riverwind casino players club4 million of which was cash.The downgrade of Penn’s corporate family rating (CFR) is in response to the disruption in casino visitation resulting from efforts to contain the spread of the coronavirus, including recommendations from federal, state, and local governments to avoid gatherings and avoid non-essential travel,” said Moody’s in a note obtained by Casino.Even if the situation is rapidly resolved, that doesn’t necessarily mean gamblers will rush back to casinos.twin river slotsPreviously chastened Penn bulls appear undaunted by the Moody’s downgrade, sending the stock higher by almost 42 percent today (at this writing) on volume that is already more than triple the daily average.“More specifically, the weaknesses in Penn’s credit profile, including its exposure to travel disruptions and discretionary consumer spending, have lt a couple of weeks before the company decided to temporarily close its two Las Vegas Strip properties and Encore Boston Harbor to prevent spreading of the coronavirus.black hawk casino facebook

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desert diamond casino and hotel73 percent, respectively, in the past three sessions.“The rating also reflects Penn’s high leverage along with longer-term fundamental challenges facing Penn and other regional gaming companies related to consumer entertainment preferences and US population demographics that Moody’s believes will continue to move in a direction that does not favor traditional casino-style gaming.“The gaming sector has been one of the sectors most significantly affected by the shock, given its sensitivity to consumer demand and sentiment,” said the ratings firm.“Penn’s B1 CFR reflects the meaningful earnings decline over the next few months expected from efforts to contain the coronavirus and the potential for a slow recovery once properties re-open,” said the research firm.The move is the latest in a series of downgrades or warnings that such actions are coming by from ratings agencies on gaming companies.Doing The Right ThingWynn is among the operators that will pay employees over the course of a governor-mandated 30-day closure of Nevada casinos.free casino slots 777