choctaw casino in durantGood news continues piling up for Penn National Gaming (NASDAQ:PENN) investors, as Standard & Poor’s (S&P) removed the casino operator’s debt from the “CreditWatch Negative” group.” That increases the importabig dollar casino sister casinosnce of drive-in traffic from neighboring states, namely California.Only recently have there been most signs of a pickup in visits.free online games slots 777As Bain notes, California accounted for a quarter of all US jobless claims in the last week of August.Rather, the research firm focused on margins and Penn’s ability to meet lease obligatiS&P took a dubious label off the operator’s credit grade today.casino zone

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chinook winds casino openThat move could be pricing in upcoming improvements in earnings before interest, taxes, depreciation and amortization (EBITDA).“Given the lack of domestic/international travel, lack of near/intermediate-term group and business events, the beginning of a long Las Vegas recovery is currently levered to California leisure traffic, which offers little visibility/reason for investor enthusiasm,” said Bain.S&P and rival credit firms punished Penn’s rating in March, just as the stock was starting to rebound from its coronavirus lows.betrivers casino appS&P and rival credit firms punished Penn’s rating in March, just as the stock was starting to rebound from its coronavirus lows.Some investors like Wynn stock due to Asia-Pacific exposure.Wynn Macau and Wynn Palace, along with the special administrative region’s (SAR) other casinos, were closed for 15 days in February because of the coronavirus pandemic.jamul casino telephone number

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choctaw casino july 4 2021But its 39 other venues are primarily in regional, not destination markets.“Additionally, our expectation that the company will improve its margin reflects our view that many of its lower-margin or loss-leading amenities, like buffets, will remain closed for some time to comply with health and safety measures intended to limit the spread of the coronavirus,” notes S&P.In the largest US gaming center, Penn operates the Tropicana and the M Resort.The slots area at Penn National’s Hollywood Casino in Columbus, Ohio.But Bain sees risks by way of a lack of liquidity among high-end players, new room supply coming to market, and a dearth of Hong Kong dollars flowing into the gaming hub because travel remains limited between the two SARs.However, despite the fact that S&P’s note hit the wires on the same day that the Barstool Sportsbook app launched in Pennsylvania, the ratings agency makes no mention of any of those topics.roulette online casino las vegas