cache creek casino website(Image: Treasure Island)Treasure Island and Circus Circus, both owned by the real estate tycoon, have each filed claims with their respective insurance providers for financial damages related to the COVID-19 pandemic. As it nears completion of its acquisition of Caesars Entertainment (NASDAQ:CZR), Eldorado Resorts (NASDAQ:ERI) remains one of the preferred gaming equities among sell-side analysts. As it closes in on completing the Caesars purchase, Eldorado lands more bullish commentary from a Wall Street analyst. big fish casino gamblingNevada casinos won .9 billion during those same two months in 2019.Coronavirus Insurance Coverage?Ruffin has owned Treasure Island since 2009 when he purchased the Strip resort from MGM Mirage for 5 million. Wolfe Research analyst Jared Shojaian recently boosted his price forecast on the soon-to-be casino behemoth. The insurance companies argue that there’s a lack of “physical property damage,” and that “there’s no need for coverage if the virus isn’t there to cause damage.”The legal media outlet cites a case in Michigan where a state judge rejected a lawsuit from a restaurateur that the state limiting the establishment to delivery and takeout resulted in damages that should be covered under the policy.Legal experts say casinos could have a better argument, as they were required to fully close.“Casinos — particularly those in Las Vegas — have been impacted more severely,” attorney Michael Levine, a partner at Hunton Andrews Kurth LLP in Richmond, Virginia, told Bloomberg Law.Casino ClaimsRuffin’s two Las Vegas casinos claim the coronavirus was indeed physically present in his resorts.Filed in the United States District Court of Nevada, Circus Circus argues that insurance company AIG sold it an “all risks” policy that is supposed to cover “direct physical loss or damage to Insured Property.” The casino says the policy provides up to 0 million in coverage for physical loss or damage of property and up to .7 million in coverage for loss of business income.Persons infected with COVID-19 were present at Circus Circus prior to March 18, 2020. jamul casino table games

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seven feathers casino hotel mapIn fact, during the period January 1, 2020, to March 18, 2020, Circus Circus employees recorded more than 1,600 sick days,” the complaint adds. Phil Ruffin — seen here seated on the left next to former MGM Resorts CEO Jim Murren signing the purchase contract for Circus Circus — is suing two insurance companies. That offset some of the weakness in the destination markets of Las Vegas and New Orleans.Sizing Up SustainabilityThe critical question for regional operators, south lake tahoe casinos covidparticularly the combined ERI/Caesars, which will control 52 gaming venues in 16 states, is how sustainable the strength is in these markets.Shojaian notes regional casinos are being propped up by operators’ ability to increase margins and factors things gaming companies can’t control, including government stimulus checks and a dearth of local entertainment options in the wake of COVID-19.“Consumers have received temporary stimulus relief and supplemental unemployment insurance, and many ucasino slot machinesRuffin believes his insurance policies warrant some sort of coverage in relation to the coronavirus emergency.Bloomberg Law reports that insurance carriers have “broadsouth lake tahoe casinos covidly denied” claims for business losses during the pandemic. They were allowed to reopen in reduced capacities and numerous health safety measures in place beginning June 4.Land-based gross gaming revenue (GGR) totaled $content$ in both April and May. That offset some of the weakness in the destination markets of Las Vegas and New Orleans.Sizing Up SustainabilityThe critical question for regional operators, south lake tahoe casinos covidparticularly the combined ERI/Caesars, which will control 52 gaming venues in 16 states, is how sustainable the strength is in these markets.Shojaian notes regional casinos are being propped up by operators’ ability to increase margins and factors things gaming companies can’t control, including government stimulus checks and a dearth of local entertainment options in the wake of COVID-19.“Consumers have received temporary stimulus relief and supplemental unemployment insurance, and many uonline casino new jersey

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chinook winds casino resort zoominfoAs it closes in on completing the Caesars purchase, Eldorado lands more bullish commentary from a Wall Street analyst. The 85-year-old acquired Circus Circus last year from MGM Resorts for 5 million.The timing on the Circus Circus purchase was poor, though the pandemic was entirely unforeseeable. (Image: Treasure Island)Treasure Island and Circus Circus, both owned by the real estate tycoon, have each filed claims with their respective insurance providers for financial damages related to the COVID-19 pandemic. Nevada casinos won .9 billion during those same two months in 2019.Coronavirus Insurance Coverage?Ruffin has owned Treasure Island since 2009 when he purchased the Strip resort from MGM Mirage for 5 million. They were allowed to reopen in reduced capacities and numerous health safety measures in place beginning June 4.Land-based gross gaming revenue (GGR) totaled $content$ in both April and May. As it closes in on completing the Caesars purchase, Eldorado lands more bullish commentary from a Wall Street analyst. cache creek casino phone number