is chumba casino riggedEven with that, analysts’ estimates for the company’s 2020 earnings per share (EPS) are all over the map.For now, though, investors should take the purportedly ‘consensus’ earnings expectations and price targets with a grain of salt, especially for certain sectors and stocks, where there really isn’t much consensus among analysts,” according to a Barron’s Private equity colossus Blackstone (NYSE:BX) continues forging into the gaming business. In a recent regulatory filing, Melco said it has little visibility regarding when business will return to pre-virus levels in Macau.Amid plunging traveler numbers because of curbs imposed to contain the new coronavirus, Melco scrapped its planned purchase of a second 9.99% stake in Crown from billionaire James Packer in a deal that had already raised regulatory concern,” reports Reuters.Melco’s sale represents the latest in an ongoing saga for Crown investors, one that also included a brief 2019 flirtation with a takeover offer from Wynn Resorts (NASDAQ:WYNN).More Real Estate for BlackstoneFor Blackstone, the deal isn’t as much about potentially making a play to acquire Crown outright, but rather, finding ways to extract value from the gaming company’s enticing real estate assets.Blackstone, the owner of the Cosmopolitan Las Vegas, is a growing force in the cadownstream casino poker tournamentsino real estate business, recently acquiring the Bellagio from MGM Resorts International (NYSE:MGM) and partnering with MGM Growth Properties (NYSE:MGP) to purchase the real estate of Mandalay Bay and MGM Grand.Crown’s Australian property assets are valued at just over billion. blackjack online casino worldAlthough Wynn stock more than doubled off its 52-week low hit in March, it’s still lower by 40.40 percent year-to-date.Wynn Macau, the company’s China unit, already said it expects first-quarter earnings before interest, taxes, depreciation and amortization (EBITDA) to be materially affected by the COVID-19 pandemic. Those include Crown Melbourne and Crown Perth. Much of that inquiry focusing on the operator’s relationship with Ho.Saved by the VirusBy February, the coronavirus was adversely impacting the Asia-Pacific gaming industry, giving Melco a plausible excuse to scrap the Crown deal.Like other gaming companies, the City of Dreams operator is searching for more cash, and the sale of its Crown stake, albeit at a loss, is an easy avenue for bolstering its balance sheet. turtle creek casino new years eve

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youtube brian christopher slots today(Image: Twitter)This year, Wynn is dealing with temporary closures of its two Las Vegas Strip Venues and Encore Boston Harbor by COVID-19. (Image: Reuters)The private equity firm is paying 0 million for all of the Crown shares previously held by the Macau operator, meaning Melco sold that equity at prices that were 37.3 percent below what the company paid for the stock last year.Blackstone paid the equivalent of .31 a share for 67.67 million Crown shares. The company also owns Betfair Australasia, half of Aspers Group, and a 20 percent interest in Nobu, the posh hotel and restaurant consortium.pechanga casino onlineWith the coronavirus outbreak still weighing on the gaming industry, it’s not surprising that analysts are divided on how the health crisis is affecting individual operators’ financial results. It’downstream casino poker tournaments losing roughly .5 million per day, not including 0,000 in interest expenses, to simply keep its two venues there open. Those include Crown Melbourne and Crown Perth. golden nugget casino gold nugget

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paragon casino blackjackAlthough Wynn stock more than doubled off its 52-week low hit in March, it’s still lower by 40.40 percent year-to-date.Wynn Macau, the company’s China unit, already said it expects first-quarter earnings before interest, taxes, depreciation and amortization (EBITDA) to be materially affected by the COVID-19 pandemic. Even with that, analysts’ estimates for the company’s 2020 earnings per share (EPS) are all over the map.For now, though, investors should take the purportedly ‘consensus’ earnings expectations and price targets with a grain of salt, especially for certain sectors and stocks, where there really isn’t much consensus among analysts,” according to a Barron’s It’downstream casino poker tournaments losing roughly .5 million per day, not including 0,000 in interest expenses, to simply keep its two venues there open. Those shutdowns follow a 15-day halt in business in Macau, a market that in any given quarter can account for two-thirds to 80 percent of the operator’s earnings and revenue. The new forecast implies upside of 44.5 percent from where the stock trades at this writing.The company is taking a nearly 10 percent stake in Australia’s Crown Resorts, and is getting those shares from Melco Resorts & Entertainment (NASDAQ:MLCO) at a deep discount. poker yellowhead casino