Jackson Rancheria Casino Location  a share, above the consensus estimate of 20 cents. Strat owner Golden Entertainment reported decent Q4 results, but investors are focused on coronavirus impact. (Image: Twitter)The company reported revenue of 2. Brian Christopher Slots 2016 Rwrz 13 million for the last three months of 2019, easily topping Wall Street’s forecast of 0. admiral casino and lodge Encore Casino Near Me Rrnz 13 million. But on Friday, investors appeared to be focusing on how frequently Golden management mentioned COVID-19 on the earnings conference call and the impact of the outbreak on the operator’s business. twin river casino reservations Mgm Grand Casino Hotel Detroit Gsth

Obviously, at this time, it is tough to handicap the duration and severity of the coronavirus. choctaw casino hr But we aren’t seeing any impact to our business that is remotely proportionate to the impact on our equity valuation,” said CFO and President Charles Protell on the call. Las Vegas-based Golden operates 10 casinos, nine of which, including the Strat, are in Southern Nevada. chinook winds casino is it open The other is the Rocky Gap in Maryland. Nevada Coronavirus ImpactThe bulk of Golden’s Silver State properties outside of the Strat cater to locals, a segment many analysts viewed as sturdy prior to the outbreak of the coronavirus in the US. Local and regional casinos account for about 80 percent of Golden’s earnings before interest, taxes, depreciation and amortization (EBITDA).

Key Insights and Expert Analysis

Alone, the Strat accounts for 20 percent of the company’s property level EBITDA. roulette casino tunisie Doubledown Casino Offline Npxx Protell notes that last weekend, the Strat was entirely booked, and just seven percent of that property’s guests hail fromslot casino 2021 outside the US. Still, the emphasis on catering to locals at Golden’s other venues could be challenging in today’s COVID-19 environment. The number of confirmed cases of the respiratory illness in the Silver State rose to 11 on Thursday, prompting Gov. online gambling market share Steve Sisolak to declare a state of emergency. Las Vegas Mayor Carolyn Goodman offered a fiery rebuke of media coverage surrounding COVID-19, saying the press is keeping tourists away from Sin City, claiming that “the media is absolutely destroying us. mohegan sun casino free drinks brian christopher slots yesterday

”Reassuring InvestorsLike other gaming stocks, Golden has been slammed this month, entering Friday down 61. 74 percent since March, and more than 66 percent below its 52-week high. But CEO Blake Sartini looked to reassure skittish investors on the call. miami casino club “I’d like to remind everyone I am the largest shareholder of Golden Entertainment and have an obvious interest, along with all other shareholders, to see our valuation grow,” he said. is mohegan sun casino open in connecticut “I can’t control the coronavirus and unfortunately don’t have a cure. ”Sartini reiterated that while Golden owns the Strat, it’s not a Strip company, and that it has one of the highest free cash flow yields in the industry.

In terms of liquidity, a hot topic in the gaming sector at the moment, Golden has 2 million in cash on its balance sheet and access to a 0 million credit revolver, which the operator currently hasn’t drawn against. viejas casino hotel san diego Atlantic City officials are requesting authorization from the New Jerseyslot casino 2021 Superior Court to force billionaire Carl Icahn to immediately demolish the shuttered Trump Plaza on the Atlantic City Boardwalk. hard rock casino rockford jobs Atlantic City Mayor Marty Small says Trump Plaza presents an immediate threat to public safety and should be demolished. (Image: Wayne Parry/AP/Casino. oxford casino hotel org)The property has sat vacant since 2014. black oak casino concerts 2021 The billionaire activist investor acquired the former casino in his 2016 takeover of the bankrupt Trump Entertainment Resorts. soaring eagle casino net worth

Icahn stalled the demolition process in hopes of receiving millions of dollars from the state’s Reinvestment Development Authority, but that never came to fruition. During a Thursday news conference at Jim Whelan Boardwalk Hall, Atlantic City Mayor Marty Small (D) said the government has filed paperwork seeking a court order to require Icahn to bring the deteriorating property down. Today, we are saying to Carl Icahn that we want this building torn down,” the mayor declared. “We chinook winds casino careers