firekeepers casino table games(Image: CNBC)Battered by casino closures across the US at the hands of the coronavirus, Penn National and other regional gaming stocks are being drubbed this month.Penn National Gaming (NASDAQ:PENN) is extending a jaw-dropping run that has seen the embattled gaming stock more than triple off its 52-week low notched last week, even as Moody’s Investors Service lowered the operator’s credit rating deeper into junk territory.”Moody’s lowered the operator’s credit rating to B1 from Ba3 with a negative outlook.free slots igt no download” That grade is the fourth-lowest in non-investment grade territory on the Moody’s scale.“More specifically, the weaknesses in Penn’s credit profile, including its exposure to travel disruptions and discretionary consumer spending, have lThe CEO is required to attain ownership of the company’s stock equaling six times his annual salary, while that requirement is three times for other executives and three times the annual cash retainer for non-employee board members.black oak casino winners 2021

seven feathers casino oregon

thunder valley casino buffet openEven if the situation is rapidly resolved, that doesn’t necessarily mean gamblers will rush back to casinos.4 million of which was cash.org.borgata online casino promotionsIn 2018, Wynn’s top four executives, including Maddox, received over million in combined compensation, about .“The gaming sector has been one of the sectors most significantly affected by the shock, given its sensitivity to consumer demand and sentiment,” said the ratings firm.Cash ConsiderationsWith a zero revenue environment setting in for gaming companies, Wall Street is growing concerned about the cash positions of operators and their respective survival timelines.casino near me kibimmee fl

chumba casino login

restaurants at eldorado casino reno“These efforts include mandates to close casinos on a temporary basis.Including Maddox, there are nine Wynn board members.t a couple of weeks before the company decided to temporarily close its two Las Vegas Strip properties and Encore Boston Harbor to prevent spreading of the coronavirus.But in recent days, some of the names are rebounding on hopes the federal government will provide stimulus assistance to the travel and leisure industry, and perhaps put cash directly in the pockets of Americans.“The rating also reflects Penn’s high leverage along with longer-term fundamental challenges facing Penn and other regional gaming companies related to consumer entertainment preferences and US population demographics that Moody’s believes will continue to move in a direction that does not favor traditional casino-style gaming.“Penn’s B1 CFR reflects the meaningful earnings decline over the next few months expected from efforts to contain the coronavirus and the potential for a slow recovery once properties re-open,” said the research firm.lake tahoe casinos and hotels