valley forge casino covid 19Wynn 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.“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.Good 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.jackpot city free slot machinesBain added that Wynn has less exposure to the Cotai Strip than rivals Las Vegas Sands (NYSE:LVS) and Melco Resorts & Entertainment (NASDAQ:MLCO), a relevant point because border expansions and new capacity could drive traffic to that area of Macau.That move could be pricing in upcoming improvements in earnings before interest, taxes, depreciation and amortization (EBITDA).Regional Promise, Improving MarginsLike so many research firms, S&P is enthusiastic about Penn’s status as a regional gaming company with reduced exposure to the Las Vegas Strip.casino games party poker

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foxwoods resort casino facebookBain added that Wynn has less exposure to the Cotai Strip than rivals Las Vegas Sands (NYSE:LVS) and Melco Resorts & Entertainment (NASDAQ:MLCO), a relevant point because border expansions and new capacity could drive traffic to that area of Macau.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.That move could be pricing in upcoming improvements in earnings before interest, taxes, depreciation and amortization (EBITDA).jamul casino facebookBut there are issues, there, too.Some investors like Wynn stock due to Asia-Pacific exposure.As Bain notes, California accounted for a quarter of all US jobless claims in the last week of August.casino resorts east coast

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valley forge casino nearby hotelsHowever, 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.5x next year, which is pivotal because that threshold, if topped, could trigger a debt downgrade.But there are issues, there, too.S&P took a dubious label off the operator’s credit grade today.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.The service cited reopened properties and adequate lease coverage.paragon casino application