Downstream Casino Logo sterday’s sell-off in the stock may have been a case of investors pricing in the effects of COVID-19 closures that hampered the company’s first-quarter performance in Illinois and Pennsylvania, where gaming venues were closed for part of January. Additionally, Penn’s Zia Park in New Mexico didn’t reopen until early March. gold coast casino gift days Still, analysts like what they see. Pent-up demand from their brick and mortar customers is impressive, and has yet to fully roll out across PENN’s entire portfolio,” said Stifel’s Steven Wieczynski in a note to clients. ““Results in the less-restricted South segment outpaced the broader PENN portfolio and bodes well for states still yet to pare back restrictions on casinos to the same degree,” Wiezynski continued. Wieczynski still rates Penn a “buy,” but trimmed his price forecast to 8 from 4, to reflect a more conservative posture on the company’s internet casinos exposure and Barstool Sportsbook. The operator is aiming to have the mobile betting app live in eight states by the start of NFL season, and 10 states by the end of 2021.

Penn Keeping Costs in CheckAs is the case with many regional gaming operators, Penn is proving adept at boosting margins against the COVID-19 backdrop. sunset station casino winners The company estimates long-term margin expansion will approach 90 percent of 2019 revenue. go wild casino 50 free spins Cost management is another point in favor of Penn stock, notes Wieczynski. “PENN’s customer acquisition costs are well-below market rates, whillittle river casino and resorte advantages on customer retention are likely underappreciated at this stage of the game,” said the Stifel analyst. jamul casino shopping event black bear casino no smoking “PENN noted their blended CPA is running below 0/customer, which compares to peers running 0 to 0 at this time. ”While investors may be fretting about the sustainability of Penn’s stellar margin trends, the analyst says he’s confident that Penn management can run the business in a leaner fashion even as demand trends return to pre-pandemic form. UPDATE: Steven L.

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Scheinthal, executive vice president and general counsel for Golden Nugget, says the casino company is not threatening any legal action in Virginia. He tells Casino. 888 poker casino login Fanduel Casino Error 6 Kbiw org, “We submitted a response to an RFP and did not prevail. lake tahoe casinos open There were multiple bidders and can be only one winner. 5dimes casino no deposit bonus We lost and accept that result. ”A casino proposal from Golden Nugget was one of three bids that the City of Richmond, Va. , rejected in March. island view casino drink menu

Golden Nugget owner Tilman Fertitta speaks during a meeting with restaurant industry executives at the White House last year. Free Slot Machines Online No Download Pysr His casino unit recently lost a bid to develop a resort in Richmond, Va. (Image: AP)In late March, Richmond Mayor Levar Stone’s office announced that three of the six casino bids for the city’s lone gaming permit had been rejected. mohegan sun pocono casino phone number Poker Casino For Sale Axaw Along with Golden Nugget, pitches from Virginia’s Pamunkey Indian Tribe and Wind Creek Hospitality were no longer being considered. chumba casino illinois Richmond’s Department of Economic Development formed anlittle river casino and resort Evaluation Panel to handle each review. play free casino video slot games The agency said those rejected were done for various reasons, including lack of site control, concerns regarding the likelihood of financial revenue projections, deficiency of the bid, and lack of organizational experience. jamul casino shopping event Dennis Cotto, who has practiced law in Virginia for three decades and is an expert in procurement laws, argues Golden Nugget’s rejection was wrong. royal ace casino free play caesar windsor casino hours Mohegan Sun Pa Casino Mfsw

Cotto was a partner in Golden Nugget’s Richmond casino ambitions. Cotto says Richmond ignored state procurement laws and did not allow the casino company to address or appeal to the city’s concerns in rejecting its application. online gambling dangers Competitive Bidding RulesProcurement laws as they relate to government biddings are designed to make sure the city gains the best bid for the buck, and the process is free of corruption and arbitrary decision-making. Procurement regulations are additionally bidders’ rights to a fair progression of the