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Penn National has additionally set aside . Gold Coast Casino Gym Kqfk 7 million for the company’s COVID-19 Emergency Relief Fund. free casino slot games with bonus rounds real money More than 1,000 employees have received financial assistance through the program. cache creek casino restaurants Century Casinos (NASDAQ:CNTY) is selling its eponymous gaming establishment in Calgary, Canada for . 5 million. free casino slot machine games to play While the price tag doubledown casino on facebookis small by industry standards, the company is earning praise from one analyst. cool cat casino withdrawal rules Century Casinos is selling its Calgary venue, seen here, in what one analyst is calling a creative deal. (Image: Colorado Springs Gazette)Under the terms of the agreement, an entity known as 2267166 Alberta Ltd. is paying . 5 million, based on July 31 US dollar/Canadian dollar exchange rates, to purchase Century Casino Calgary. phone number of san manuel casino

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A three-year quarterly earnout is also part of the deal. The Calgary casino is one of our smaller operations, contributing . 4 million in net operating revenue and . n gage win casino no deposit bonus 2 million in adjusted earnings before interest, taxes, depreciation and amortization (EBITDA),” said Century co-CEOs Erwin Haitzmann and Peter Hoetzinger in a statement. The sale, which is expected to close in the fall of this year, must be approved by the Alberta Gaming, Liquor and Cannabis Commission. But Century already received the . 5 million in cash for the purchase price, which isn’t refundable. Those proceeds bolster the operator’s balance sheet, according to Haitzmann and Hoetzinger. Creative TransactionA . 5 million price tag for a gaming industry transaction usually isn’t eye-catching, but in this case, it’s notable for a few reasons.

First, wringing . 5 million out of one property isn’t too shabby for a company with a market capitalization of less than 0 million. brian christopher slots new today Thunder Valley Casino Tribal Council Uqmd Second, Century Resorts Alberta, the unit of the operator that’s selling the Calgary casino,doubledown casino on facebook is retaining ownership of the sports bar, bowling, and entertainment amenities at the venue, and is keeping the real estate, meaning the buyer will be paying Century rent. The lease terms are 8,102 annually for three years. In reiterating a “buy” rating on Century, Union Gaming analyst John DeCree said Century’s Calgary deal is one of the industry’s most creative since the coronavirus pandemic started. The investment community is placing added emphasis on gaming industry balance sheets in the current environment, and DeCree added that Century parting with the Calgary casino for immediate cash is more prudent than borrowing capital at punitive interest rates, as some operators have during the pandemic. island resort and casino island club Small Company, Big PotentialThe analyst sees Century as one of the best ideas among smaller gaming operators. Wednesday’s transaction announcement is a key incremental positive, as it alleviates potential concerns about liquidity, avoids any long-term liabilities or dilution, and is cash flow neutral