Hard Rock Casino South Lake Tahoe Ca the Fiesta Henderson, Fiesta Rancho, Palms, and Texas Station will reopen, something that could be weighing on the stock today. In reiterating a “hold” rating on Red Rock stock, Stifel analyst Steven Wieczynski said that management could eschew the glitz and frivolities of many non-gaming amenities that are so vital to Las Vegas Strip operators, and focus more on pure gaming. no deposit bonus casino online New Slots 2021 Free Casino Games Slot Machines Ofvv Seems like management is starting to think about changing their operating strategy moving forward and going back to more of the old Station Casino model, which focused more on customers and pure gaming versus all the fancy non-gaming amenities,” Wieczynski said. hollywood casino wv sportsbook None of the aforementioned venues are on the Strip. jamul casino hotel But Station Casinos have exposure to Strip trends, which Wiecynski says could portend a “protracted cash flow recovery” relative to rival regional gaming companies. firekeepers casino covid 19 slot casino machines games

Strip ExposureConfounding operators with Strip exposure is that many travelers are reluctant to hop on planes to get to Las Vegas without a coronavirus vaccine. cache creek casino hotel rooms Even under the rosiest of assumptions, that scenario is unlikely to change until at least early to mid-2021. Hard Rock Casino South Lake Tahoe Ca Hmfs Making matters tougher for the Sin City recovery trajectory is that following initial signs of pent-up demand during the early June reopening period, a second wave of COVID-19 cases hit California and Arizona. That prompted some operators to say demand from vital Las Vegas drive-in markets is declining. little river casino opening date As Wieczynski notes, although Red Rock doesn’resorts casino catskills reviewst operate Strip venues, the company is levered to the strength of that area.

Key Insights and Expert Analysis

“From a direct perspective, we are keenly focused on the company’s hybrid properties, led by the Palms. new harrah s casino in nc We view the success of these properties as directly tied to the economic vibrancy along the Strip, which, in our view, raises the probability of a protracted recovery,” he said. cashman casino medals He adds that one of the company’s core demographics is Strip staffers that frequent Station venues after their shifts. Until the fiscal health of that group improves, it will be difficult for Red Rock to make a full recovery. Problemed PalmsRed Rock management said Tuesday the fate of the Palms and the other still-closed casinos will largely be determined by demand trends at the company’s properties that are currently open.

There was no mention of the Palms being sold, a rumor that popped earlier this year, but was subsequently put to rest by management. Wieczynski says it’s anyone’s guess how the investment community will react if the Palms isn’t reopened, or if it’s sold. “We wonder how investors will react if The Palms isn’t reopened or even eventually sold? Would they applaud management for cutting ties, or put them in the penalty box because it was a bad use of capital? ” He has a price target on Red Rock stock, implying 16. river spirit casino restaurants

6 percent upside from current levels. chumba casino reviews Seminole Casino Locations In Florida Voyb Virgin Atlantic, the airline founded by British billionaire Richard Branson, has filed for bankruptcy protection in theresorts casino catskills reviews United States amid the coronavirus pandemic. river spirit casino vaccine Turtle Lake Casino Birthday Promotions Qdtg Richard Branson’s investment in Las Vegas will not be impeded by his Virgin Atlantic filing for bankruptcy. casino extreme mobile (Image: Tania Steere/Virgin)Executives say the move is part of a court process to restructure the company’s finances, and has the support of the airline’s major creditors and owners. wynn casino las vegas win lob statement Delta Air Lines, which holds a 49 percent stake in Virgin Atlantic, has agreed to defer payments it is owned, and hedge fund Davidson Kempner has agreed to loan the airline nearly a quarter of a billion dollars.

“The approval process is in motion and we expect the recapitalization to come into effect in September,” Virgin Atlantic said in a statement. hard rock casino lake tahoe pool Branson remains the majority owner in the airliner, the man worth an estimated . 7 billion retaining a 51 percent stake. Las Vegas seminole casino new member