online casino apps michigan(Image: Shutterstock)Deutsche Bank gaming specialist Carlo Santarelli is troubled that while some states are reporting better than pre-pandemic brick-and-mortar casino revenues, Pennsylvania is not. “Said differently, the entertainment dollar lasts twice as long in the iCasino environment.”Deutsche Bank research concluded that land-based casinos in Pennsylvania are spending nine percent less on promos than they did during the same time period in 2019.iGaming Expansion OddsThe potential cannibalization of brick-and-mortar casino gambling caused by online platforms, Santarelli believes, will caution other states in moving to legalize internet gambling. One gaming analyst says some play might have permanently moved online. free slot games you tubeThe headlines, however, read as peachy for Pennsylvania’s gaming industry. “MGM Resorts, for example, reported a 20 percent EBITDAR margin in first-quarter 2021, which compares with a high-20 percent EBITDAR margin pre-pandemic, and continued margin growth likely throughout the year,” according to Fitch.The research firm has a “negative” outlook on MGM’s “BB-” credit rating, noting it and Las Vegas Sands (NYSE:LVS) need to see more recovery in international markets before positive alterations to credit ratings and outlooks can be considered.Pennsylvania is the nation’s second-richest gaming state in terms of total gross revenue. the online casino promo codes

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downstream casino menu“MGM Resorts, for example, reported a 20 percent EBITDAR margin in first-quarter 2021, which compares with a high-20 percent EBITDAR margin pre-pandemic, and continued margin growth likely throughout the year,” according to Fitch.The research firm has a “negative” outlook on MGM’s “BB-” credit rating, noting it and Las Vegas Sands (NYSE:LVS) need to see more recovery in international markets before positive alterations to credit ratings and outlooks can be considered.Compared with 2019, gross gaming revenue (GGR) in 2021 at the state’s 14 commercial casinos was down 12 percent in March, up one percent in April, and down three percent in May. Accordingly, we find the theme of the pandemic making iCasino legalization a likely source of funds for states far less likely now, post bailouts, than perhaps was thepremier theater at foxwoods resort casino mashantucket ct case 6-12 months ago,” Santarelli explained. wynn casino las vegas ownerBut one analyst is concerned that some of the play has moved online permanently in the wake of the pandemic. But beyond Connecticut, the prospects are slim, Santarelli opines. “As such, we think the rollout of iCasino is likely to be a lot more challenging than most expect, and far more challenging than sports betting. free slots quick hit platinum

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little river casino calendar of eventsAs such, Wynn Resorts (NASDAQ:WYNN) recently commenced a 5 million room renovation in response to strong 2022 bookings. But as Pennsylvania emerges from the coronavirus, the trend among many gamblers seems to be staying online, rather than returning to a physical casino.“We think it is worth considering the notion that the presence of iCasino in Pennsylvania could be stunting the casino recovery,” Santarelli wrote. That’s a bullish sign when considering Macau is a far larger market for that company.Other operators, including MGM Resorts International (NYSE:MGM), are highlighting impressive earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs (EBITDAR) margin trends. But as Pennsylvania emerges from the coronavirus, the trend among many gamblers seems to be staying online, rather than returning to a physical casino.“We think it is worth considering the notion that the presence of iCasino in Pennsylvania could be stunting the casino recovery,” Santarelli wrote. (Image: Shutterstock)Deutsche Bank gaming specialist Carlo Santarelli is troubled that while some states are reporting better than pre-pandemic brick-and-mortar casino revenues, Pennsylvania is not. (Image: Shutterstock)Deutsche Bank gaming specialist Carlo Santarelli is troubled that while some states are reporting better than pre-pandemic brick-and-mortar casino revenues, Pennsylvania is not. thunder valley casino free slot play