2024.07.18
valley forge casino resort themed roomsBut 2020 is anything but normal, and with a COVID-19 vaccine still months away, the gaming company remains vulnerable to sluggish business traffic and tourists’ reluctance to fly to destination markets.“With no signs that the group/convention business will be recovering anytime soon, we would prefer to stay on the sidelines,” said Stifel analyst Steven Wieczynski in a note oufoxwoods resort casino ownert late Thursday.He rates MGM stock “hold,” with a price target, implying modest upside from the Oct. That’s something MGM is executing in significant fashion, with executives saying the operator found 0 million in reductions, which it expects will remain permanent even as business gradually returns to normal.Following a recent debt sale, MGM had .50 billion in domestic liquidity as of Sept. Then, Penn, strapped for cash at the time, unloaded Tropicana’s real estate and the ground lease of an asset in Morgantown, Pa. desert diamond casino glendale azto GLP for 7.5 million in lease credits.Since then, GLP confirmed it’s open to selling Tropicana. But whether those flirtations result in credible offers for the iconic venue remains to be seen. “We think we own enough of Las Vegas to be open about it. soaring eagle casino outdoor concert rules go wild casino no deposit bonusfree casino slot games appBut whether those flirtations result in credible offers for the iconic venue remains to be seen. (Image: CNBC)The Bellagio operator lost .08 a share on revenue of .13 billion during the July through September period. “We think we own enough of Las Vegas to be open about it. 7 feathers casino phone number“I mean, there’s a lot of tire kickers, not necessarily a lot of check writers. We’re not overly focused on M&A, particularly here in Las Vegas,” he said. It’s still for sale, but owner GLP isn’t in a rush to sell. caesar casino utrecht free slots triple diamondspai gow poker online casinout there’s still work to be done. There’s ample interest among potential buyers for the Tropicana Las Vegas. (Image: CNBC)The Bellagio operator lost .08 a share on revenue of .13 billion during the July through September period. That scenario came about following a transaction earlier this year. First and foremost, Penn National’s financial position is improving, indicating there’s little near- to medium-term risk that the operator will be pinched by its obligations on the venue.Second, the coronavirus pandemic is resulting in depressed pricing on gaming real estate. “I mean, there’s a lot of tire kickers, not necessarily a lot of check writers. sam s town casino in las vegas miami club casino tournaments |