is downstream casino openVICI-owned Harrah’s Las Vegas. “We expect their solid financial positions to help them withstand pandemic-related business disruptions, though the gaming industry today remains in uncharted territory.”COVID-19 is the first big test of gaming REITs’ ability to weather a downturn, because the group didn’t exist didn’t exist during the global financial crisis. Moreover, the real estate companies aren’t having issues collecting rent. seneca niagara casino slot machinesGLPI was the first of the trio to go public following a spin off from Penn National Gaming (NASDAQ:PENN) in 2013. 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. Gaming properties apparently are favoring informal sports-focused restaurants servinpechanga casino slots

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online foxwoods loginDomestic gaming real estate investment trusts (REITs) have the liquidity and balance sheets to weather storms foisted upon tenants by the coronavirus pandemic, according to analysis of the group by Moody’s Investors Service. “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. That’s an impressive feat, considering operator tenants faced multi-month shutdowns because of the pandemic. luckyland slots no deposit bonus 2021The 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. 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. (Image: KTNV.com)The three publicly traded casino landlords are Gaming & Leisure Proprties (NASDAQ:GLPI), MGM Growth Properties (NYSE:MGP), and VICI Properties (NYSE:VICI). black bear casino music

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winstar world casino twittervenues are operating at limited capacity and traffic levels remain below pre-coronavirus levels.In North Kansas City, the city council appears to be in a bind, because it needs the 0,000 owed by Harrah’s, prompting several members to float the idea of extending rent payments rather than erasing the obligation outright.Domestic casinos shut down in mid-March. Moreover, the real estate companies aren’t having issues collecting rent. 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.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. venues are operating at limited capacity and traffic levels remain below pre-coronavirus levels.In North Kansas City, the city council appears to be in a bind, because it needs the 0,000 owed by Harrah’s, prompting several members to float the idea of extending rent payments rather than erasing the obligation outright.Domestic casinos shut down in mid-March. “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. winstar world casino inn