bovada casino code free chips 2021(Image: Shutterstock)Deutsche Bank gaming specialist Carlo Santarelli is troubled that while some states are reporting better than pre-pandemic brick-and-mortar casino revenues, Pennsylvania is not. But as Pennsylvania emerges from the coronavirus, the trend among many gamblers seems to be staying online, rather than returning to a physical casino.“We think it is worth considering the notion that the presence of iCasino in Pennsylvania could be stunting the casino recovery,” Santarelli wrote. Compared with 2019, gross gaming revenue (GGR) in 2021 at the state’s 14 commercial casinos was down 12 percent in March, up one percent in April, and down three percent in May. free pop slots xpThat’s a bullish sign when considering Macau is a far larger market for that company.Other operators, including MGM Resorts International (NYSE:MGM), are highlighting impressive earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs (EBITDAR) margin trends. “MGM Resorts, for example, reported a 20 percent EBITDAR margin in first-quarter 2021, which compares with a high-20 percent EBITDAR margin pre-pandemic, and continued margin growth likely throughout the year,” according to Fitch.The research firm has a “negative” outlook on MGM’s “BB-” credit rating, noting it and Las Vegas Sands (NYSE:LVS) need to see more recovery in international markets before positive alterations to credit ratings and outlooks can be considered.“As per our findings here, we also think there is some merit to cannibalization of traditional casino operations, which would thereby lessen the desire of certain casino operators that haven’t had success in iCasino, or aren’t well-positioned to succeed in the vertical, to push for legalizationno deposit bonus casino zar

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liberty slots mama bonusPennsylvania is the nation’s second-richest gaming state in terms of total gross revenue. Connecticut, pending federal approval, is set to become the sixth iGaming state by way of its two tribes. But beyond Connecticut, the prospects are slim, Santarelli opines. black bear casino texas holdemBut one analyst is concerned that some of the play has moved online permanently in the wake of the pandemic. In May, Pennsylvania’s set its third consecutive monthly gaming record. Accordingly, we find the theme of the pandemic making iCasino legalization a likely source of funds for states far less likely now, post bailouts, than perhaps was thepremier theater at foxwoods resort casino mashantucket ct case 6-12 months ago,” Santarelli explained. nearest casino resort

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mgm grand online casino Traffic on Pennsylvania casino floors remained light during their reopenings, as made evident in this photo last year of Parx Casino in Philadelppremier theater at foxwoods resort casino mashantucket cthia. Compared with 2019, gross gaming revenue (GGR) in 2021 at the state’s 14 commercial casinos was down 12 percent in March, up one percent in April, and down three percent in May. But beyond Connecticut, the prospects are slim, Santarelli opines. (Image: Shutterstock)Deutsche Bank gaming specialist Carlo Santarelli is troubled that while some states are reporting better than pre-pandemic brick-and-mortar casino revenues, Pennsylvania is not. In May, Pennsylvania’s set its third consecutive monthly gaming record. “Said differently, the entertainment dollar lasts twice as long in the iCasino environment.”Deutsche Bank research concluded that land-based casinos in Pennsylvania are spending nine percent less on promos than they did during the same time period in 2019.iGaming Expansion OddsThe potential cannibalization of brick-and-mortar casino gambling caused by online platforms, Santarelli believes, will caution other states in moving to legalize internet gambling. bovada casino games not working