clearwater casino bainbridge islandGLPI, 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. “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. 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. roulette casino how toMGM Growth Properties was separated from its parent in 2016, followed by VICI the next year.Collecting Rent, Access to CashAs has been the case throughout theparagon casino gta broader gaming industry this year, landlords are accessing capital, bolstering balance sheets in the process. 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. GLPI was the first of the trio to go public following a spin off from Penn National Gaming (NASDAQ:PENN) in 2013. encore casino video

three rivers casino near me

tropicana laughlin hotel and casinoThroughout 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. 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 sweeps for chumba casinoThe Missouri Gaming Commission (MGC) allowed casinos to reopen in early June.Slippery SlopeCouncilman Richard Stewart detailed the bind the city is in with the request from Harrah’s, stating that other businesses affected by the pandemic, such as restaurants, aren’t asking for tax breaks. That’s an impressive feat, considering operator tenants faced multi-month shutdowns because of the pandemic. GLPI was the first of the trio to go public following a spin off from Penn National Gaming (NASDAQ:PENN) in 2013. walmart near boulder station casino

viejas casino alpine california

morongo casino golfHe 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. The Missouri Gaming Commission (MGC) allowed casinos to reopen in early June.Slippery SlopeCouncilman Richard Stewart detailed the bind the city is in with the request from Harrah’s, stating that other businesses affected by the pandemic, such as restaurants, aren’t asking for tax breaks. “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. 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. MGM Resorts International (NYSE:MGM), theparagon casino gta largest operator in Las Vegas, is MGP’s only client, tethering that REIT’s fortunes to a Southern Nevada rebound. 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. thunder valley casino news today