four winds casino locations“Occupancy is 100%, and despite pandemic-related closures of gaming properties, rent collection remains nearly spotless.”Concentration ConcernsAs the research firm points out, two risks that could pressure the gaming REITs going forward are tenant concentration and the slow pace of post-pandemic recovery in Las Vegas.While VICI owns Caesars Palace on the Strip and counts Caesars Entertainment as its biggest client, that real estate firm has other tenants, and isn’t as dependent on Sin City for rental income as MGP. MGM Resorts International (NYSE:MGM), thecasino apps largest operator in Las Vegas, is MGP’s only client, tethering that REIT’s fortunes to a Southern Nevada rebound. VICI-owned Harrah’s Las Vegas. river spirit casino valetMGM Resorts International (NYSE:MGM), thecasino apps largest operator in Las Vegas, is MGP’s only client, tethering that REIT’s fortunes to a Southern Nevada rebound. Throughout the second quarter, the worst stretch for casino closures, real estate companies collected nearly all owed lease obligations with minimal problems.“Additionally, the gaming REITs’ business model includes revenue safeguards. Moody’s says gaming REITs look sturdy. soaring eagle casino michigan concerts

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el morongo casino hotelLike rival properties throughout the country, it generated no revenue in April and May. GLPI, MGP, and VICI have .5 billion in combined cash and credit revolver access, according to Moody’s.None of the REITs have any debt maturing prior to 2023. That’s an impressive feat, considering operator tenants faced multi-month shutdowns because of the pandemic. nearest casino in alabamaThat’s an impressive feat, considering operator tenants faced multi-month shutdowns because of the pandemic. VICI-owned Harrah’s Las Vegas. The Missouri Gaming Commission (MGC) allowed casinos to reopen in early June.Slippery SlopeCouncilman Richard Stewart detailed the bind the city is in with the request from Harrah’s, stating that other businesses affected by the pandemic, such as restaurants, aren’t asking for tax breaks. el dorado casino reno buffet

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call the wynn las vegasThe Missouri Gaming Commission (MGC) allowed casinos to reopen in early June.Slippery SlopeCouncilman Richard Stewart detailed the bind the city is in with the request from Harrah’s, stating that other businesses affected by the pandemic, such as restaurants, aren’t asking for tax breaks. The real estate company owns the property of all MGM Las Vegas assets except the Bellagio.Of the three, GLPI is least exposed to Sin City. Those companies combine to own the real estate of about 20 percent of US commercial gaming venues.Gaming & Leisure Properties’, VICI Properties’ and MGM Growth Properties’ combined gross assets grew more than 60%, to over billion, in the second quarter of 2020, up from about billion at their inception a few years ago,” said Moody’s analyst Thuy Nguyen. GLPI was the first of the trio to go public following a spin off from Penn National Gaming (NASDAQ:PENN) in 2013. But adjusted gross table revenue is lower by eight percecasino appsnt, according to MGC data.He added that if the council obliges the gaming operator’s request for rent forgiveness, it would be difficult to explain such a move to other business owners.Data confirms COVID-19 is weighing on Show-Me State gaming properties. winstar world casino hotel discounts