kansas star casino air supplyThe 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.Those 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. As a result, Harrah’s North Kansas City notched revenue of just million, down from million a year earlier, according to the Star. pechanga casino concerts 2021Gaming 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. 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. roulette casino odds

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mountaineer casino numberThose 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. Gaming properties apparently are favoring informal sports-focused restaurants servinVICI-owned Harrah’s Las Vegas. soaring eagle casino events todayThroughout 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. The REITs operate under a long-term triple-net lease structure ranging from 30 to 50 years, with highly predictable income streams that push most financial and operational variables to their tenants,” said Moody’s. As a result, Harrah’s North Kansas City notched revenue of just million, down from million a year earlier, according to the Star. seminole casino bluegrab

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casino quackity(Image: KTNV.com)The three publicly traded casino landlords are Gaming & Leisure Proprties (NASDAQ:GLPI), MGM Growth Properties (NYSE:MGP), and VICI Properties (NYSE:VICI). 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. The real estate company owns the property of all MGM Las Vegas assets except the Bellagio.Of the three, GLPI is least exposed to Sin City. As of August, fiscal 2021 year-to-date admissions to all casinos in the state are lower, including a nine percent decline for Harrah’s.As of the end of August, adjust gross slot revenue at the Caesars venue is higher by 2.3 percent, making it the only casino in the Kansas City market that can make that claim. GLPI was the first of the trio to go public following a spin off from Penn National Gaming (NASDAQ:PENN) in 2013. 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. free online poker computer