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chinook winds casino in lincoln cityNevada casinos won just 8.1 million on their floors last month from being closed for nearly half of March because of the COVID-19 pandemic. Every table game saw win tumble, including blackjack and craps – both down 60 percent, and roulette plunging 70 percent. Those who venture from the mainland to Sin City often play high-stakes baccarat. blackjack online helperWe just have not reacha Instinet analyst Daniel Adam believes the property firms are the best bets for investors positioning for an industry resurgence.With the COVID-19 pandemic having resulted in casino closures throughout the world, rather than choose winners and losers among the operators, we consider the Gaming REITs to be a much safer way for equity investors to gain exposure to an eventual recovery in Gaming,” he wrote in a recent note to clients.Some market participants appear to agree with Adam’s assessment, as shares of the three REITs soared off their 52-week lows. None of the Nevada Gaming Control Board’s metered markets posted a year-over-year GGR increase.March’s dismal performance trailed three consecutive months in which Nevada casinos won more than billion in each. casino oxford street london

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hollywood casino waveland msBut Instinet’s Adam reminds investors that even if a tenant were to go belly up because of a prolonged no-revenue setting, gaming REITs have first priority for assets in bankruptcy proceedings.Fortunately for the real estate companies, insolvency for tenants is a way’s off, as even the financially flimsiest of gaming companies hlittle river casinos peojas enough capital on hand to survive at least another year with no money coming in.GLP and Vici have multiple tenants, while MGP is solely reliant on MGM Resorts International (NYSE:MGM) for its revenue stream.Near-Term TestsThe May rent payment cycle could prove telling for the real estate firms, because some analysts believe operators could skirt those obligations for a month or two simply to conserve cash.“There is a real risk that tenants may look to their rent obligations to conserve cash, while their facilities are closed or are operating with minimal business volumes,” said Fitch Ratings in a recent note.GLP and Vici report first-quarter earnings on Friday, May 1. Appearing on ABC’s “Good Morning America,” the Democratic first-term governor said Nevada isn’t ready to ease safety restrictions.Unfortunately, we’re going to have to extend the stay-at-home order a little bit. There’s a chance the companies could comment on payments for the fifth month. resorts casino phone numberThat prompted some concern in the investment community regarding the ability of the gaming REITs to collect April rent. The NCAA’s March Madness men’s college basketball tournament, one of the busiest little river casinos peojtimes of the year for oddsmakers, was called off because of the health crisis.Sisolak Extending ClosuresToday, Nevada’s governor revealed what most Nevadans were expecting: the odds favor him extending the state’s stay-at-home order past April 30. MGP steps into the earnings confessional on May 5, meaning it might have more clarity on how tenant obligations are looking for the month.m casino las vegas nevada

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what year did thunder valley casino openThe Las Vegas people might be strong, but Nevada casinos were weak in terms of revenue last month. Those who venture from the mainland to Sin City often play high-stakes baccarat. Penny slots won just .3 million, a decline of 33 percent.Nevada sportsbooks took just 1.2 million in wagers, the smallest March handle since 1993. On the Strip, revenue from that table game fell more than 17 percent in March to .46 million.Baccarat wasn’t alone. None of the Nevada Gaming Control Board’s metered markets posted a year-over-year GGR increase.March’s dismal performance trailed three consecutive months in which Nevada casinos won more than billion in each. The Las Vegas people might be strong, but Nevada casinos were weak in terms of revenue last month. encore casino boston update