black bear casino duluthFortunately for the real estate companies, insolvency for tenants is a way’s off, as even the financially flimsiest of gaming companies has enough capital on hand to survive at least another year with no money coming in.“While we remain optimistic about reopekansas star casino and hotelning, this additional financing ensures we have the financial resources necessary to continue funding operations, servicing our obligations, and pursing organic and strategic growth opportunities through the COVID-19 crisis,” said TRWH CEO George Papanier.also paying million to purchase Bally’s on the Atlantic City, N.is lucky red casino legitSome market participants appear to agree with Adam’s assessment, as shares of the three REITs soared off their 52-week lows.GLP has nearly doubled off its March nadir, while MGP and Vici are higher by 121.Those names could be investors’ preferred avenues for wagering on the industry’s post-coronavirus resurgence, according to one analyst.mgm casino washington dc hours

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big fish casino vip customer supportAt the end of the first quarter, TRWH had 5 million in cash on hand and 0 million in borrowing capacity, giving it one of the stronger capital positions among smaller regional gaming companies.J.J.free slot machines for funAllaying ConcernsDomestic casino closures forced by COVID-19 commenced in mid-March.With May 1 just two days away and US casinos having been shuttered for all of this month, the lease obligation concern is back.(Image: CNBC)This is the first downturn faced by the gaming real estate investment trusts (REITs), because the oldest – GLP – didn’t debut as a public company until 2012, prompting some investors to ponder the fate of companies in what is becoming an extended zero-revenue environment for their operator tenants.coolcat casino sign in

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boulder station casino pizzaThus far, that hasn’t been an issue, with GLP and Vici each saying essentially all tenants paid rent for the fourth month of the year.Near-Term TestsThe May rent payment cycle could prove telling for the real estate firms, because some analysts believe operators could skirt those obligations for a month or two simply to conserve cash.In addition to the favorable pricing – 0 million combined for three casinos is seen as cheap – Wall Street is applauding TRWH’s ongoing effort to increase geographic diversity and reduce its revenue dependence on the highly competitive New England market.“There is a real risk that tenants may look to their rent obligations to conserve cash, while their facilities are closed or are operating with minimal business volumes,” said Fitch Ratings in a recent notThose deals will take some time to close, giving TRWH the ability to repay an existing credit revolver and then borrow on it again in the future.Boardwalk from Caesars Entertainment (NASDAQ:CZR) – another acquisition seen happening at a rock-bottom price.valley forge casino covid