Mgm Grand Casino News ohegan Sun and Foxwoods Resorts Casino remain open. golden nugget casino restaurants Coronavirus Leads to Closings NationwideElsewhere, other gaming properties are closing or are cutting back on operations. mohegan sun casino in pennsylvania These include Ohio’s MGM Northfield Park and MGM’s Yonkers Raceway — where a long-time trainer and office worker died after contracting coronavirus. Pennsylvania’s Valley Forge Casino Resort was temporarily closed by Boyd Gaming, and several other Pennsylvania casinos are also closing. las atlantis casino no deposit bonus codes august 2021 The Wildhorse Resort & Casino in Oregon closed for two days recently for a deep cleaning “out of an abundance of caution” after one of its workers was declared presumptive positive for COVID-19. Zynga Slot Casino Games Fyld The Illinois Gaming Board ordered each of the state’s 10 casinos to close for two weeks, according to news reports. Mgm Grand Casino Houston Texas Wfxy

Elsewhere, MGM has also revealed it is closing nightclubs and day clubs. Spas and salons will close starting on Monday. Some 150 food and beverage venues will close on a rolling basis. An unspecified number of MGM workers’ furloughs and layoffs will commence next week. choctaw casino to winstar casino Monarch Casino & Resort (NASDAQ:MCRI) joined other gaming equities in rebounding Friday, soaring 12. Brian Christopher Slot Player Xlcg Canada 58% after an analyst said the stock’s recent slide is the epitome of “throwing the baby out with the bathwater. seminole casino covid 19 raging bull casino unsubscribe

Key Insights and Expert Analysis

” That’s an old Wall Street saying referring to quality stocks that get hit during broader market slides. Atlantis operator Monarch Casino rallied Friday after an analyst said selling in the name may be overdmorongo casino weddingsone. is morongo casino buffet open Online Casino Real Money Ohio Yadg (Image: YouTube)On Friday, shares of the operator of the Atlantis Casino-Resort in Reno, Nevada surged on more than triple the average daily volume, taking a bite out of what had been a March decline of more than 61 percent, after Stifel analyst Brad Boyer dubbed that selloff “irrational. ”While MCRI is in no way immune to challenges introduced by the (coronavirus) outbreak, we would argue the company is positioned to benefit from several structural advantages that are currently being overlooked by investors,” said Boyer in a note obtained by Casino. resorts casino valet parking org. golden nugget casino l auberge Among the Monarch catalysts highlighted by the analyst are one of the best balance sheets in its peer group, low leverage, and easy access to capital via strong cash flow and a million credit facility.

Those are important traits at a time when many market observers are fearing companies could face liquidity crunches if a recession arrives. Waiting For Cooler Heads to PrevailEntering Friday, gaming stocks were under intense selling pressure this month as investors bailed on the group amid fears the COVID-19 pandemic is going to sap earnings and keep gamblers away. Some analysts are noting the pandemonium in casino equities is depressing valuations to the point that some names, including Monarch, may be too tempting to ignore when the chaos ebbs. casino near me gambling “All told, while the irrational selloff to the sub-5x 21E earnings before interest, taxes, depreciation and amortization (EBITDA) level has caught our attentimorongo casino weddingson, we would prefer to see some level of rationality return to the public equity markets prior to growing more constructive on the shares,” said Boyer. Monarch reported fiscal first-quarter results earlier this week. While the company said there wasn’t a material impact from the coronavirus on those numbers, management noted that, more recently, some older visitors are opting to stay away from the Atlantis and the Black Hawk casino in Colorado because of fears of contracting the respiratory illness. wild go casino eldorado casino buffet reno nv

Colorado And M&A OpportunitiesMonarch’s Black Hawk, Colo. property is under expansion, something viewed as an important earnings and revenue driver for the company. On a recent conference call, management did not indicate the COVID-19 outbreak is delaying enhancements at that venue. pechanga casino killing robbery On the acquisition front, Boyer notes some footnotes in Monarch’s earnings release indicate the operator was close to buying a rival in recent months, but ultimately elected resorts casino queens jobs online casino real money australia paysafe scarlet pearl casino mini golf