Choctaw Casino Stigler  of 34. 6 million as of Sept. thunder valley casino bus 30, it looks like Twin River has repurchased approximately 4 million shares of its stock since late July, according to Stifel gaming analyst Brad Boyer. Ultimately, we believe the repurchase activity should send a strong message to investors as to how management views the current valuation, and we would expect shares to trade higher,” said Boyer in a note provided to Casino. blackjack casino louisiana org. In June, TRWH, which also operates gaming properties in Colorado, Delaware and Mississippi, said it was committing 0 million to paying dividends and a share repurchase program. seneca niagara casino news hard rock casino chicago With Friday’s close at . 08, the stock yields 0. 45 percent. Good TimingRegardless of industry or sector, management teams like deployment share buyback plans because it’s a tax-efficient way of returning capital to shareholders. draftkings casino new hampshire santa ana casino open today

Investors pay taxes on dividends, but not on share repurchases. Additionally, when a company reduces its shares outstanding, its earnings per share increase. However, historical data indicates companies are often bad at timing their buybacks, opting to skimp on repurchases when their stock is slumping and unveiling large repurchase schemes after the shares have rallied. For example, buyback levels among US companies dwindled in 2008 during the global financial crisis, but have surged in recent years as the bull market has aged. What Casino Wins The Most In Las Vegas Ecme Said another way, TRWH is the rare example of a company deploying capital for share buybacks amid a slump in its stock pchoctaw casino and resort pocolarice. Over the summer, the stock slid as management acknowledged increasing competition from Wynn Resorts’ Encore Boston Harbor in Everett, Mass. That venue opened in late June. Last week, Twin River said table game revenue at its eponymous casino in Lincoln, R. I. treasure island resort and casino jobs plunged 40 percent in August, while slot turnover was off 16 percent on a year-over-year basis.

Key Insights and Expert Analysis

In July, the company reported table and slot revenue declines of 34 percent and 17 percent, respectively. casino resorts usa bellagio casino revenue Borgata Casino Images Hqwg Boyer said TRWH is being hindered by initial trial play at Encore Boston Harbor and elevated promotional activity, which should “gradually taper off, consistent with what we have seen with other new openings. casino royale las vegas wynn ”Plenty of FirepowerThe analyst estimates TRWH has about 1 million left it can use for buybacks and dividends. “We believe management not only honored its commitment to return capital, but also sent a clear message to investors as to how it views the shares’ current valuation,” said Boyer. cleo 2 free slots Error Code: 521 Qgmc “We positively view the buyback activity and expect it to push shares higher. are the black hawk casinos open ”Twin River’s buyback sparked more bullishness from Boyer. The Stifel analyst reiterated a “buy” rating on the stock, while boosting his price target on the name to , implying upside of about 36 percent from Friday’s close. The PGA Tour is in Las Vegas this weekend for the Shriners Hospitals for Children Open at TPC Summerlin. But don’t expect to see any of the professional golfers in casino sportsbooks. choctaw casino and resort pocola Casinos are making their presence known on the PGA Tour.

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