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is draftkings a casino(Image: YouTube)On Friday, shares of the operator of the Atlantis Casino-Resort in Reno, Nevada surged on more than triple the average daily volume, taking a bite out of what had been a March decline of more than 61 percent, after Stifel analyst Brad Boyer dubbed that selloff “irrational.”While MCRI is in no way immune to challenges introduced by the (coronavirus) outbreak, we would argue the company is positioned to benefit from several structural advantages that are currently being overlooked by investors,” said Boyer in a note obtained by Casino.org.Among the Monarch catalysts highlighted by the analyst are one of the best balance sheets in its peer group, low leverage, and easy access to capital via strong cash flow and a million credit facility. Some analysts are noting the pandemonium in casino equities is depressing valuations to the point that some names, including Monarch, may be too tempting to ignore when the chaos ebbs.“All told, while the irrational selloff to the sub-5x 21E earnings before interest, taxes, depreciation and amortization (EBITDA) level has caught our attention, we would prefer to see some level of rationality return to the public equity markets prior to growing more constructive on the shares,” said Boyer.Monarch reported fiscal first-quarter results earlier this week. Some 150 food and beverage venues will close on a rolling basis.An unspecified number of MGM workers’ furloughs and layoffs will commence next week.peppermill lounge casino movieValley Forge Casino Resort is the first coronavirus gaming victim in Pennsylvania. It’s to remain closed at least through Friday, March 27. Valley Forge Casino Resort is the first coronavirus gaming victim in Pennsylvania. miami club casino mobile

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riverwind casino rv parkingOn a recent conference call, management did not indicate the COVID-19 outbreak is delaying enhancements at that venue.On the acquisition front, Boyer notes some footnotes in Monarch’spechanga casino blackjack dlye earnings release indicate the operator was close to buying a rival in recent months, but ultimately elected to pass on that purchase. Spas and salons will close starting on Monday. property is under expansion, something viewed as an important earnings and revenue driver for the company. bovada casino games redditET Friday. Starting in February, Boyd Gaming has been following stringent CDC-recommended protocols at its properties nationwide, including frequent handwashing by team members, increased placement of hand sanitizers, and increased sanitation of frequently-touched surfaces,” Boyd said in a statement.Valley Forge closed at 6 a.m. Those are important traits at a time when many market observers are fearing copechanga casino blackjack dlyempanies could face liquidity crunches if a recession arrives.Waiting For Cooler Heads to PrevailEntering Friday, gaming stocks were under intense selling pressure this month as investors bailed on the group amid fears the COVID-19 pandemic is going to sap earnings and keep gamblers away. borgata casino instagram

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a casino claims that its rouletteWhile the company said there wasn’t a material impact from the coronavirus on those numbers, management noted that, more recently, some older visitors are opting to stay away from the Atlantis and the Black Hawk casino in Colorado because of fears of contracting the respiratory illness.Colorado And M&A OpportunitiesMonarch’s Black Hawk, Colo. (Image: Boyd Gaming)On Thursday, Wolf mandated that all public schools, community centers, and entertainment venues in Montgomery County be closed for two weeks because of an increase in presumptive positive cases of COVID-19.Pennsylvania Gaming Control Board (PGCB) spokesperson Richard McGarvey said the agency was informed by the governor’s administration that casinos fall within the entertainmepechanga casino blackjack dlyent category.“The safety and well-being of our team members and customers is our utmost priority. Valley Forge Casino Resort is the first coronavirus gaming victim in Pennsylvania. Starting in February, Boyd Gaming has been following stringent CDC-recommended protocols at its properties nationwide, including frequent handwashing by team members, increased placement of hand sanitizers, and increased sanitation of frequently-touched surfaces,” Boyd said in a statement.Valley Forge closed at 6 a.m. Those are important traits at a time when many market observers are fearing copechanga casino blackjack dlyempanies could face liquidity crunches if a recession arrives.Waiting For Cooler Heads to PrevailEntering Friday, gaming stocks were under intense selling pressure this month as investors bailed on the group amid fears the COVID-19 pandemic is going to sap earnings and keep gamblers away. However, the combination of the company’s strong balance sheet and depressed stock prices in the industry could compel it to consider acquisitions down the road.“Although the recent global economic turmoil may compel management to take a pause in its pursuit of additional M&A targets, we continue to believe MCRI’s capital structure flexibility and the generally onerous levels of debt incurred by several of its regional operator peers, favorably positions the company to potentially execute thoughtful and accretive M&A transactions at a future date,” said the analyst.Boyer has a “hold” rating and price target on Monarch, implying upside of almost 46 percent from Friday’s close.hollywood casino 9 11