no deposit bonus codes keep what you winThroughout 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. “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. black bear casino golf courseThose 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. Like rival properties throughout the country, it generated no revenue in April and May. Moody’s says gaming REITs look sturdy. twin river casino food

mgm grand casino hours

bovada casino sign up bonusMoody’s says gaming REITs look sturdy. The REITs operate under a long-term triple-net lease structure ranging from 30 to 50 years, with highly predictable income streams that push most financial and operational variables to their tenants,” said Moody’s. As a result, Harrah’s North Kansas City notched revenue of just million, down from million a year earlier, according to the Star. scarlet pearl casino employmentLike rival properties throughout the country, it generated no revenue in April and May. But adjusted gross table revenue is lower by eight percemgm casino hoursnt, according to MGC data.The REIT owns four gaming properties in Southern Nevada, a number that could be trimmed to three if it proceeds with selling the Tropicana on the Strip.pechanga casino location

santa ana casino drive in movie

online casino real money debit cardMGM Resorts International (NYSE:MGM), themgm casino hours largest operator in Las Vegas, is MGP’s only client, tethering that REIT’s fortunes to a Southern Nevada rebound. 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. 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. 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. 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. The REITs operate under a long-term triple-net lease structure ranging from 30 to 50 years, with highly predictable income streams that push most financial and operational variables to their tenants,” said Moody’s. seneca niagara casino new years eve 2020