palace station casino las vegas nv“Given the lack of domestic/international travel, lack of near/intermediate-term group and business events, the beginning of a long Las Vegas recovery is currently levered to California leisure traffic, which offers little visibility/reason for investor enthusiasm,” said Bain.But its 39 other venues are primarily in regional, not destination markets.That’s a negative at a time when the Golden State economy is still reeling from the effects of the pandemic.fan duel.casinoFrom the nadir in the third month of the year, Penn stock is up a staggering 1,719.Rather, the research firm focused on margins and Penn’s ability to meet lease obligati“Additionally, our expectation that the company will improve its margin reflects our view that many of its lower-margin or loss-leading amenities, like buffets, will remain closed for some time to comply with health and safety measures intended to limit the spread of the coronavirus,” notes S&P.angel of the winds casino news

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boomtown casino poker room49 percent.The research firm estimates the gaming company’s net leverage ratio will decline below 7.Our estimate that Penn’s EBITDA will increase over the next several quartis hard rock casino tulsa pet friendlyers assumes a modest improvement in its EBITDA margin relative to 2019 due to the cost cuts management implemented over the past few months, particularly related to its labor and marketing expense,” said S&P in a note out Tuesday.choctaw casino promotionsThe research firm adds that although Penn’s revenue could be crimped because it’s operating below capacity in many markets, that’s not a warning sign, because “We believe the historical peak utilization rates in many markets were below theseis hard rock casino tulsa pet friendly limits.Following the coronavirus reopening, many regional operators got leaner, trimming headcount and abandoning less profitable offerings while boosting margins to Wall Street’s liking.But there are issues, there, too.casino near me fresno

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liberty slots instant playHowever, despite the fact that S&P’s note hit the wires on the same day that the Barstool Sportsbook app launched in Pennsylvania, the ratings agency makes no mention of any of those topics.Namely, Sin City is now highly dependent on leisure travel from neighboring California.While S&P pulled that dubious distinction from Penn, the research firm reiterates a “B” rating — deep into junk territory — with a “negative” outlook on the operator’s debt.Regional Promise, Improving MarginsLike so many research firms, S&P is enthusiastic about Penn’s status as a regional gaming company with reduced exposure to the Las Vegas Strip.That move could be pricing in upcoming improvements in earnings before interest, taxes, depreciation and amortization (EBITDA).“Given the lack of domestic/international travel, lack of near/intermediate-term group and business events, the beginning of a long Las Vegas recovery is currently levered to California leisure traffic, which offers little visibility/reason for investor enthusiasm,” said Bain.blackjack 21 casino vegas mod apk