q casino eventsOver the near-term, however, there’s a lot riding on the outcome of Tuesday’s US election.“We believe a Biden victory, while not completely resolving the tenuous trade relations btw. Fitch Ratings has downgraded approximately 5 million worth of bonds issued by the New Jersey Casino Reinvestment Development Authority (CRDA). Fitch Ratings has downgraded approximately 5 million worth of bonds issued by the New Jersey Casino Reinvestment Development Authority (CRDA). intertops red casino login“We would expect to see Wynn stock re-rate if Biden wins the presidency.”Prior to Allen’s call, the last two analyst rating actions on Wynn stock were downgrades.Shares of the Encore Boston Harbor operator are lower by almost 48 percent year-to-date but are up more than three percent with the help of the Morgan Stanley upgrade.Electoral ImplicationsIn the wake of the coronavirus pandemic, operators with exposure to Macau continue struggling, as visits to the world’s largest gaming center remain slack, pinching gross gaming revenue (GGR) in the process.That, coupled with President Trump’s heavy-handed approach to relations with China, are among the factors weighing on Wynn stock this year. “We would expect to see Wynn stock re-rate if Biden wins the presidency.”Prior to Allen’s call, the last two analyst rating actions on Wynn stock were downgrades.pechanga casino 4th of july fireworks 2020

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cashman casino downthe US and China, would at least help mitigate the extreme bear case that WYNN’s concession would not be renewed,” the analyst said. Bonds issued by New Jersey’s Casino Reinvestment Development Authority have been downgraded by Fitch Ratings. “The Negative Outlook at the ‘BBB’ rating level reflects heightened uncertainty about the strength of taxable activity through the recovery period and the vulnerability of receipts to further pressures, including those posed by prolonged public health concerns.”Online DamageInternet gambling in New Jersey has skyrocketed during the coronavirus pandemic. poker casino tipsOver the near-term, however, there’s a lot riding on the outcome of Tuesday’s US election.“We believe a Biden victory, while not completely resolving the tenuous trade relations btw. (Image: Press of Atlantic City)The credit agency lowered its CRDA rating from BBB+ to BBB. the US and China, would at least help mitigate the extreme bear case that WYNN’s concession would not be renewed,” the analyst said. morongo casino owner

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harrah s casino telephone number(Image: Press of Atlantic City)The credit agency lowered its CRDA rating from BBB+ to BBB. That’s a 15.1 percent drop compared with September 2019.The CRDA is funded through a 1.25 percent Investment Alternative Tax on GGR. That’s because the gaming company depends on Macau for 75 percent or more of its earnings before interest, taxes, depreciation and amortization (EBITDA) and revenue in normal quarters.As such, in advance of tomorrow’s US elections, some gaming analysts are saying a victory by former Vice President and Democratic nominee Joe Biden will benefit Macau operators, including Wynn. “We would expect to see Wynn stock re-rate if Biden wins the presidency.”Prior to Allen’s call, the last two analyst rating actions on Wynn stock were downgrades.BBB ratings indicate a low default risk, but “adverse business or economic conditions are more likely to impair this capacity.”The downgrade of CRDA’s luxury tax revenufirekeepers casino reopene bonds to ‘BBB’ from ‘BBB+’ reflects the severity of pledged revenue declines in 2020, the likely slow trajectory of the recovery for casino and other entertainment activity in Atlantic City, and thus luxury tax receipts, and the resulting higher vulnerability of the structure to revenue volatility in the near term, relative to our pre-pandemic expectations,” Fitch said in its note.Founded in 1984 by the New Jersey State Legislature, the CRDA facilitates economic and community development throughout Atlantic City by leveraging assets and revenues with private investment capital.City Casinos StrugglingFitch explains that its downgrade on the CRDA bonds is due to the economic damage Atlantic City’s nine casinos are enduring as a result of COVID-19. That’s a 15.1 percent drop compared with September 2019.The CRDA is funded through a 1.25 percent Investment Alternative Tax on GGR. winstar world casino dreb code