Chumba Casino Table Games first quarter and into the early part of the June quarter, credit rating agencies were quick to lower grades and outlooks on a broad swath of gaming entities, including integrated resort operators, device manufacturers, and sportsbook firms. winstar world casino covid For its part, Moody’s says it’s lowered ratings on 900 corporate debt issues across all sectors this year, with 797 of those bonds already residing in junk territory prior to the 2020 reduction. caesars casino promo code 2021 slot casino to win money The research firm said of the other 103 downgrades 70 retained investment-grade status, while 33 lost that designation and moved to the high-yield space. Among the familiar gaming names Moody’s tagged with lower grades or “negative” outlooks this year are MGM Resorts International (NYSE:MGM), William Hill (OTC:WIMHY), and Penn National Gaming (NASDAQ:PENN), among others. free casino slots penny Of interest to fixed income investors considering the gaming industry that are clinging to investment-grade marks, Moody’s says 88 percent of the 33 issues it lowered to junk for the first time carried “negative” outlooks prior to those downward revisions.

Not All Bad NewsFor any company, gaming or otherwise, carrying high-yield bond ratings increases financing costs because if these firms tap debt markets, investors demand higher interest payments for what they perceive as elevated risk. However, in the COVID-19 climate, the Federal Reserve is backstopping the junk bond market, restoring investors’ faith in the asset class while pushing the yield on the Mam resorts casinorkit iBoxx USD Liquid High Yield Index down to 4. map of golden nugget casino Encore Casino Wire Bgtg 42 percent. Specific to the gaming industry, companies aren’t having issues raising capital even as the pandemic punishes profits. Whether it’s selling bonds, tapping credit revolvers, or issuing new equity, casino operators, gaming real estate firms, device makers, and sportsbook operators are finding receptive audiences in the investment community for their capital-raising efforts.

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Underscoring that point is the fact that the bulk of the cash raised by gaming entities occurred while US casinos were shut down, confirming investors are willing to roll the dice — as long as they’re compensated for the risk — on the industry bouncing back. Tony Rodio led the former Caesars Entertainment corporation through its . Bovada Casino Ipad Lgky 3 billion merger with Eldorado Resorts. Now, the gaming executive is leading the newly formed group’s efforts to win approval to build a casino resort in Danville, Va. Former Caesars CEO Tony Rodio (far left) celebrates with Wayne Newton at the reopening of Caesars Palace. thunder valley casino roseville california

Gambler Ben Laparne was the first casino guest to roll the dice on June 4. desert diamond casino job fair (Image: Denise Truscello/Caesars Entertainment)It became official last week that voters in Danville will be asked during the November 2020 election whether they wish to authorize a commercial casino establishment in their city. jamul casino dining miami club casino coupon codes Danville Circuit Court Judge Joseph Milam issued the ballot referendum order after the Danville City Council voted in favor of m resorts casinothe action. fanduel casino refer a friend live casino annapolis casino games free online poker play Rodio — who was replaced by former Eldorado Resorts CEO Tom Reeg following the merger of the casino companies — is now leading the new Caesars Entertainment push to expand into Virginia. This week, he unveiled Caesars for Danville, a campaign that hopes to convince area voters to approve the casino resort.

The campaign is led by Rodio and four committee co-chairs, including Virginia Delegate Danny Marshville (R-Danville), Danville Mayor Alonzo Jones, Averett University President Dr. soaring eagle casino open Tiffany Franks, and Tammy Wright-Warren, a minority investor in the project. Casino CampaignVirginia Gov. mgm casino lion Borgata Casino Floor Sxlo Ralph Northam (D) signed legislation in April that allows cities to seek approval from their residents regarding a casino. morongo casino football frenzy The bill is designed as an economic driver for downtrodden towns. 6 casino court torquay

Danville is one of the five qualifying cities. But to move forward with a casino, voters must first lend their support. Only a simple majority backing is needed. Rodio says the Caesars for Danville campaign will Paragon Casino Layout Qhph