river spirit casino inside mapThose 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. Domestic 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. Moody’s says gaming REITs look sturdy. royal ace casino no deposit bonus july 2021VICI-owned Harrah’s Las Vegas. Moreover, the real estate companies aren’t having issues collecting rent. Throughout 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. casino jobs

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harrah s casino parking garagevenues 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. “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. river spirit casino promotionsThe 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.Gaming properties apparently are favoring informal sports-focused restaurants servin“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. lucky creek casino no deposit bonus codes 2021

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encore casino everett mabachusettsAs a result, Harrah’s North Kansas City notched revenue of just million, down from million a year earlier, according to the Star. 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. 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. Moody’s says gaming REITs look sturdy. 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. Domestic 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. morongo casino images