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slotocash real moneyPenn National’s Tropicana sale provides needed liquidity at an important time, says one analyst. 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. In the interim, workers can file for unemployment compensation, which the federal government is increasing by 0 a week through the CARES Act.draftkings casino gift card(Image: Las Vegas Review-Journal)As Casino.org reported last October, some analysts, using other Las Vegas Strip real estate deals as templates, speculated Penn could fetch up to million an acre, or as much as 0 million, for the Tropicantable games at rivers casino gdbja. 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. 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. black bear casino golf packages

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oxford casino rouletteBecause 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. 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. The Nevada Gaming Control Board (NGCB) and the New Jersey Division of Gaming Enforcement (NJDGE) wsunset station casino rewardsThe company also pulled its 2020 financial guidance as a result. “Penn National is a family, and we deeply regret the hardship this will place on you and your loved ones. We are extremely motivated and focused on reopening our properties as soon as it is safe and legal to do so.”We are hopeful this temporary closure will have a positive impact on stemming the tide of COVID-19,” MotorCity said in a statement.The three casinos are scheduled to remain closed through at least April 13. casino near me raleigh nc

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casino etfto Gaming and Leisure Properties (NASDAQ:GLPI) for 7.5 million worth of rent credits, a move one analyst views as vital to the operator’s near-term survival prospects. We are extremely motivated and focused on reopening our properties as soon as it is safe and legal to do so.”We are hopeful this temporary closure will have a positive impact on stemming the tide of COVID-19,” MotorCity said in a statement.The three casinos are scheduled to remain closed through at least April 13. cted Gaming executives of the three commercial casinos said it’s never easy to lay off workers.“This decision was extremely difficult to make for all of us,” said Penn National Gaming CEO Jay Snowden, which owns Greektown. 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. (Image: Las Vegas Review-Journal)As Casino.org reported last October, some analysts, using other Las Vegas Strip real estate deals as templates, speculated Penn could fetch up to million an acre, or as much as 0 million, for the Tropicantable games at rivers casino gdbja. Penn National’s Tropicana sale provides needed liquidity at an important time, says one analyst. twin river casino slots