2024.07.19
free slots blue wizardPrivate equity colossus Blackstone (NYSE:BX) continues forging into the gaming business. With 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. Private equity colossus Blackstone (NYSE:BX) continues forging into the gaming business. underground casino near me(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. 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 cais brian christopher marriedsino 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. But when it comes to Wynn Resorts (NASDAQ:WYNN), there’s nothing close to a consensus. foxwoods online sports book casino and resort choctaw duranthard rock casino n.jThose 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. It’is brian christopher marrieds losing roughly .5 million per day, not including 0,000 in interest expenses, to simply keep its two venues there open. (Image: Twitter)This year, Wynn is dealing with temporary closures of its two Las Vegas Strip Venues and Encore Boston Harbor by COVID-19. encore casino in boston hoursAlthough 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. (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. 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 cais brian christopher marriedsino 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. no deposit club player casino reapertura de viejas casinoluckyland slots casino appThe company also owns Betfair Australasia, half of Aspers Group, and a 20 percent interest in Nobu, the posh hotel and restaurant consortium.(Image: Twitter)This year, Wynn is dealing with temporary closures of its two Las Vegas Strip Venues and Encore Boston Harbor by COVID-19. Although 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. The company also owns Betfair Australasia, half of Aspers Group, and a 20 percent interest in Nobu, the posh hotel and restaurant consortium.The company also owns Betfair Australasia, half of Aspers Group, and a 20 percent interest in Nobu, the posh hotel and restaurant consortium.Dispersion data indicate no one knows what to expect with Wynn 2020 earnings. twin river casino management bicycle casino starbucks |