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river spirit casino vaccine clinicBut MGM’s strong cash position may allay rent concerns for MGP.When it delivered quarterly results last week, MGM said it has .6 billion in cash on hand and can raise another .4 billion by further monetizing its equity ownership in MGP.For its part, MGP had cash and cash equivalents of .8 billion as of March 31. (Image: YouTube)MGP, the real estate investment trust (REIT) spun off from the casino operator in 2016, said it lost 40 cents a share in the January through March period, That’s a time frame that includes the temporary closures of all domestic gaming properties, which started in mid-March.While we are also cognizant of the severe and unique challenges the COVID-19 pandemic is having on global and domestic economies, we are pleased that our tenant has continued to make rental payments in full,” said MGP CEO James Stewart in a statement.Unlike rivals Gaming and Leisure Properties (NASDAQ:GLPI) and Vici Properties (NYSE:VICI), MGP depends on a single tenant – MGM Resorts – for its rental revenue.Decent OutlookFollowing a recently closed transaction in which the company partnered with Bla3 reel free slots ewmlckstone REIT (BREIT) to acquire the land assets of the Mandalay Bay and MGM Grand, MGP owns all or part of the real estate of most MGM gaming venues.On the Las Vegas Strip, MGP’s porfolio includes the two aforementioned properties, as well as the Excalibur, Luxor and Mirage, among others. MGM Resorts has named Melonie Johnson the next president of Borgata. slot machine casinos in floridaBut MGM’s strong cash position may allay rent concerns for MGP.When it delivered quarterly results last week, MGM said it has .6 billion in cash on hand and can raise another .4 billion by further monetizing its equity ownership in MGP.For its part, MGP had cash and cash equivalents of .8 billion as of March 31. Excalibur owner MGM Growth Properties collected all April rent and doesn’t expect problems on that front this month. The resort, fully owned by MGM since it acquired Boyd Gaming’s 50 percent stake in 2016, reported casino win of 7.82 million last year. chukchansi gold resort casino zoominfo

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intertops casino no deposit bonusShe’s served in that capacity at the .4 billion integrated casino resort since November of 2017.Borgata also elevated Hugh Turner to chief financial officer. What that means is second-quarter earnings and revenue for operators will be challenged at best. But the most important takeaway may just be that the company’s lone tenant – MGM Resorts International (NYSE: MGM) – paid all of its April rent. sam s town casino bowling alleyFor example, Vici management said last week it collected all April rent and that it’s working with five unidentified tenants on financing issues.To this point, neither MGP nor Vici are mentioning anything about clients seeking rent adjustments or concessions.MGM Resorts executive Melonie Johnson is moving from MGM National Harbor to the Borgata in Atlantic City. MGM Resorts has named Melonie Johnson the next president of Borgata. restaurants in wynn casino las vegas

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wild casino withdrawal timeBut Stewart doesn’t expect MGM to miss payments.“Based upon its publicly reported liquidity position, we believe our tenant’s liquidity position is suffi3 reel free slots ewmlcient to cover its expected rental obligations,” said the MGP chief executive.That jibes with recent commentary from rival gaming REITs. But the most important takeaway may just be that the company’s lone tenant – MGM Resorts International (NYSE: MGM) – paid all of its April rent. What that means is second-quarter earnings and revenue for operators will be challenged at best. MGM Resorts has named Melonie Johnson the next president of Borgata. MGM Growth Properties (NYSE:MGP) reported first-quarter results earlier Tuesday. Excalibur owner MGM Growth Properties collected all April rent and doesn’t expect problems on that front this month. casino near me tennebee