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fanduel casino downPenn National Gaming (NASDAQ:PENN) said last Friday it’s selling the real estate assets of the Tropicana Las Vegas and the ground lease of an asset in Morgantown, Pa. The Nevada Gaming Control Board (NGCB) and the New Jersey Division of Gaming Enforcement (NJDGE) wInvestors are punishing the shares, as all operators face a zero-revenue situation because of temporary closures forced by the coronavirus outbreak.Like other operators, Penn, which runs 41 casinos in 19 states, is unable to offer any visibility as to when its venues will reopen. clearwater casino jackpot winnersPenn National’s Tropicana sale provides needed liquidity at an important time, says one analyst. Because of the coronavirus, regulators in New Jersey and other states are postponing meetings to discuss the Eldorado/Caesars deal and that’s bad news for both companies. Because of the coronavirus, regulators in New Jersey and other states are postponing meetings to discuss the Eldorado/Caesars deal and that’s bad news for both companies. borgata hotel casino spa 1

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brian christopher slots earningsIndeed, the name is recently volatile, slumping from the 52-week high of .18 to a low of .75 in a matter of weeks.After hitting that 52-week low, the stock proceeded to more than triple, eclipsing a handle, but has since given back about 27 percent of those gains.Favorable Risk/RewardWith the new liquidity lifeline via the Tropicana transaction and an attractive valuation, among other factors, Penn offers investors a compelling risk/reward setup, according to Wieczynski.“We continue to believe a relatively healthy US consumer; a maniacal margin focus; upside from a recently implemented universal player loyalty program; a commitment to reducing lease-adjusted leverage to 5.0x; and an approachable valuation all position PENN to deliver superior shareholder returns over the intermediate to longer term,” he said. “Penn National is a family, and we deeply regret the hardship this will place on you and your loved ones. “Penn National is a family, and we deeply regret the hardship this will place on you and your loved ones. casino poker games free downloadInvestors are punishing the shares, as all operators face a zero-revenue situation because of temporary closures forced by the coronavirus outbreak.Like other operators, Penn, which runs 41 casinos in 19 states, is unable to offer any visibility as to when its venues will reopen. With the 7.5 million price tag, the operator took a modest loss based on the roughly million per acre it paid for the 35-acre property in 2015.Still, Stifel analyst Steven Wieczynski views the transaction as important to bolstering Penn’s near-term liquidity while cementing an already-solid relationship with GLP.More importantly for PENN, even though some might argue they didn’t get the ‘full price’ for their real estate associated with the Tropicana, we believe what is more important right now is firming up additional liquidity and showing the market how long their business is sustainable without operations,” said the analyst.Wieczynski estimated that prior to the Tropicana sale, Penn had 166.7 days worth of liquidity, a number that’s been boosted to 202.6 as a result of the deal. Because of the coronavirus, regulators in New Jersey and other states are postponing meetings to discuss the Eldorado/Caesars deal and that’s bad news for both companies. is sloto cash casino legit

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black oak casino arcadePenn National’s Tropicana sale provides needed liquidity at an important time, says one analyst. That original forecast jibes with what other analysts mentioned regarding the operator’s survival time frame should domestic gaming properties remain closed due to the COVID-19 pandemic.Extreme ScenarioDown almost 54 percent year-to-date, Penn stock is one of the most battered gaming equities. The Nevada Gaming Control Board (NGCB) and the New Jersey Division of Gaming Enforcement (NJDGE) w(Image: CNBC)Rather, gaming authorities in some states – including the big kahunas Nevada and New Jersey – are postponing regularly scheduled meetings because of the coronavirus outbreak. Penn National Gaming (NASDAQ:PENN) said last Friday it’s selling the real estate assets of the Tropicana Las Vegas and the ground lease of an asset in Morgantown, Pa. Investors are punishing the shares, as all operators face a zero-revenue situation because of temporary closures forced by the coronavirus outbreak.Like other operators, Penn, which runs 41 casinos in 19 states, is unable to offer any visibility as to when its venues will reopen. casino near me fresno