Wild Casino Owner Increasing Independence is PositiveUnder pressure from activist investors to wring some value from its property holdings, MGM spun-off MGP in 2016. Since then, the parent company maintained a large stake in the REIT, preventing Wall Street from viewing the property firm as truly independent. However, the Mirage operator’s financial stake in the real estate company is decreasing, something analysts view as a long-term positive for MGP. “Upon completion of the 0 million operating partnership units redemption in May 2020, MGM Resorts has approximately 172 million units, or a 56. 7% economic ownership in MGP, down from 67. 7% at year-end 2019,” according to Moody’s. mountaineer casino hotels

“MGM Resorts has 0 million remaining under its agreement with MGP to purchase up to . casino table games for sale 4 billion of MGP’s units for cash through February 2022. fanduel free casino credit pechanga casino resort pechanga casino floor layout We expect future redemption to reduce the ownership to below 50%. ”When MGM’s position in the REIT drops below 30 percent, an arrangement kicks in whereby costs to enhance properties incurred by the operator will be reimbursed by the landlord in exchange for increases to master lease terms. what casinos open near me UBS is revising lower its 2020 gross gaming revenue (GGR) forecast for Macau nearly four months after the coronavirus forced a 15-day shutdown of casinos there. nearest casino slots chukchansi casino fresno UBS analyst Robin Farley, seen here in a 2010 CNBC interview, is cutting her 2020 Macau revenue forecast.

Key Insights and Expert Analysis

(Image: CNBC)In a recent note to clients, UBS analyst Robin Farley projects a 44 percent dedoubledown casino free chips facebookcline in revenue this year for the world’s largest gaming center, down from a prior estimate calling for a 31 percent contraction. We are lowering gross gaming revenue estimates on slower visitor recovery in Macau, as we expect a partial resumption of the Individual Visit Scheme from June/July in Guangdong, later than our May expectation earlier,” she said. sam s town casino application How Much Is The Buffet At L Auberge Casino The individual visit scheme (IVS) is a vital travel permit used by citizens of mainland China to enter Macau, and many of them are considered premium mass players or high rollers. Bicycle Casino Wiki Ofqt Beijing froze IVS issuance late last year in advance of President Xi Jinping’s visit to the peninsula. peppermill casino careers winstar world casino facebook But experts believed the halt would be lifted early this year. The coronavirus pandemic subsequently altered those plans.

Still Struggling With Travel BansAfter dealing with a 93. 2 percent decline in GGR last month, Macau concessionaires continue struggling with travel restrictions that are keeping visitors away from the gaming mecca. Dealing a blow to the peninsula’s recovery efforts, Hong Kong earlier this week extended to July 7 a 14-day quarantine policy for anyone arriving there from Macau. Mainland China, Hong Kong, and Taiwan combine for about nine of every 10 visitors to Macau. “Guangdong, Macau, and Hong Kong have discussed allowing cross-border travels with mutually recognized health-monitoring measures, so the potential convenience of that would be a positive for Macau gaming, though timing is unclear,” said Fardoubledown casino free chips facebookley. Guangdong is the mainland province nearest to Macau.

Experts believe if that province relaxes travel restrictions with the gaming hub, other mainland regions will rapidly follow suit. river spirit casino check in Aliante Casino Jackpots Ziot Some Good NewsThere are some indicators that Macau gaming numbers will bounce back later this year. coolcat casino bonus codes For example, VIP traffic is somewhat steady on the peninsula, and there’s belief that Chinese gamblers won’t venture far from home in the coming month. oxford casino when will it open Free Slot Games For Kindle Fire Gtfd Farley, the UBS analyst, says the combination of travel bans and no COVID-19 vaccine will keep Chinese gamblers away from other markets, such as Las Vegas and Singapore, which is to the benefit of Macau operators. She also highlighted the strong cash positions of Macau concessionaires, noting most have ample cash on hand and access to more capital, if needed, to endure what’s now a trying operating environment. foxwoods resort casino capacity little river casino news As just two examples of lenders’