mgm grand casino win lob statementLike rival properties throughout the country, it generated no revenue in April and May. 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. Moreover, the real estate companies aren’t having issues collecting rent. free slots nMGM Resorts International (NYSE:MGM), theblackjack casino goa 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. (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). soaring eagle casino jackpot winners

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borgata online casino phone numberVICI-owned Harrah’s Las Vegas. As a result, Harrah’s North Kansas City notched revenue of just million, down from million a year earlier, according to the Star. 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. free online slots with free coinsThose 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. MGM 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 theblackjack casino goa broader gaming industry this year, landlords are accessing capital, bolstering balance sheets in the process. The 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.foxwoods online promo codes 2021

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are there 2 morongo casino“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 was the first of the trio to go public following a spin off from Penn National Gaming (NASDAQ:PENN) in 2013. 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. “We expect their solid financial positions to help them withstand pandemic-related business disruptions, though the gaming industry today remains in uncharted territory.”COVID-19 is the first big test of gaming REITs’ ability to weather a downturn, because the group didn’t exist didn’t exist during the global financial crisis. Moody’s says gaming REITs look sturdy. He 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. intertops casino legitimate