The answer might surprise you. It appears these casino companies have a good amount of cash on hand Check out this article
https://www.usatoday.com/story/money...wn/2921874001/
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The answer might surprise you. It appears these casino companies have a good amount of cash on hand Check out this article
https://www.usatoday.com/story/money...wn/2921874001/
Casinos are a debt ridden industry. That debt is gonna get down graded too. The issues are myriad. Let’s skip that.
The good news for casinos is that the workers are being supported by you, the taxpayer, while on furlough. Maybe it’s more accurate to say your children pay for that.
So now that the biggest nut is carried by the government, yeah, they can limp along for quite a while. The smart ones sold their buildings and land at the height of the market so they can stiff their landlord too for rent. Very 2020 of them.
Wynn, MGM are also gonna get relief checks from Macau. MGM has been drifting away from the big asset intensive brick and mortar mistake Wynn has bumbled into. More sports and entertainment.
They are NOT as robust as the headline leads you to believe.
It won’t quite be the same either.
Glad I could help.
The only thing you posted related to the burn rate of cash on hand was how Mgm no longer owns their buildings. Cesars did the same thing except to themselves. The article simply says they can stay closed for x number of months without running out of cash.
IDGAF about the government stimulus or what companies are getting cash because that’s a done deal and crying on PFA does nothing. Did you write your senators, show up and protest in Washington...if you didn’t do those things then shut the fuck up about it.
Also the debt getting downgraded, that’s going to be across a lot of industries. If all these business are struggling their banks are going to struggle. Guess what banks are in for a tough year maybe two or three if commodity prices remain low. Once these oil producers start going bankrupt it’s going to be a drag on balance sheets.
June 2021, by then the Governor will lift the statewide emergency and Las Vegas will be back open for business.
Unfortunately, most of the tourists never return and Las Vegas only gets about 30% of the visitors it used to.
hosts are saying they are hoping to reopen 4/17. seems too optimistic to me.
I’m ready to take advantage of these 40$ round trip airfare tickets. This won’t end until they develop a vaccine. Sadly it might be a year or two of people getting sickQuote:
Originally Posted by Tellafriend
That would be the end of the 30 day mandatory shutdown. It's subject to re-evaluation by the governor.Quote:
Originally Posted by Tellafriend
Would any of you go for the crazy prices? I’ll only go if the poker rooms are open and actually have action.
The Governor of Nevada will probably continue statewide emergency shutdown for another month because the worst has not come yet. The number of infected and dead will continue to rise. Nevada casinos will not re-open until May 17th 2020 at the earliest.
https://www.youtube.com/watch?v=etEM4_idZxA
Encore Boston Harbor To Furlough 3,000 Employees Ahead Of Limited Reopening In Phase 3
This $2.4b fiasco was doomed from the first shovel of dirt but Covid will kill the diabetic big fat tub of wretched excess
Never met a financial target
Just stupid.
https://www.boston.com/news/coronavi...g-plan-phase-3Quote:
Drink service will also be limited to those who are seated and actively gambling; in other words, players won’t be able to carry alcoholic beverages around the gaming floor.
:LOL
https://www.rgj.com/story/news/2020/...ns/5428483002/
Quote:
The Palazzo hotel will soon stop taking weekday room reservations.
"In response to travel demand for the summer," said Sands spokesman Keith Salwoski, "we have made a slight adjustment to our hotel operation to better reflect occupancy patterns."
LOL Encore Boston turned the poker room into a slot parlor
Reopen It and They Will Come? Many Say They Won’t Visit Vegas Until There Is a Virus Vaccine.
https://www.barrons.com/t.co/u1rjN2AACx
Would you visit Las Vegas without a vaccine?
65% of people said “no.”
https://static01.nyt.com/images/2020...terAt3x-v2.jpg
S.O.S.: Las Vegas and the Deteriorating State of Nevada
https://www.fool.com/investing/2020/...-of-nevad.aspx
Is it safe to visit Las Vegas?
No, says The Motley Fool.
https://media.lasvegassun.com/media/...b3328710e01e7b
Cellphone Data Shows How Las Vegas Is “Gambling With Lives” Across the Country
https://www.propublica.org/article/c...ss-the-country
Did Las Vegas re-opening cause tens of thousands of people to become infected?
Probably I would say.
https://assets-c3.propublica.org/ima...velers-3x2.jpg
Probably not since everyone's wearing a mask.Quote:
Originally Posted by TheXFactor
State of Nevada Releases Covid Cases By Vegas Hotel, Casino
These cases occurred during the month of August with the Nevada Department of Health and Human Services noting these numbers only represent a fraction as an unknown number of individuals either did not get tested or did so in another state after leaving Nevada. "Every case is contacted, but individuals do have the option to not participate in the interview and the data on location is self-reported by the cases," DHHS spokeswoman Shannon Litz said in an email.
Cosmopolitan: 304
Bellagio: 153
MGM Grand Hotel: 133
The Venetian: 89
Caesars Palace: 86
Aria: 72
Mandalay Bay: 67
Wynn Las Vegas: 65
Paris Hotel: 53
New York‐New York: 51
The D Casino and Hotel: 45
Flamingo Hotel: 41
The Orleans Hotel & Casino: 36
Harrahs Las Vegas: 36
Luxor: 36
Excalibur: 34
Circus Circus: 30
Golden Nugget: 28
Red Rock Casino Resort Spa: 24
Boulder Station Hotel & Casino: 22
The LINQ: 20
South Point Hotel Casino & Spa: 20
The Signature at MGM Grand: 19
Harrahs Laughlin: 19
Tuscany Suites & Casino: 18
Golden Gate Hotel & Casino: 16
Treasure Island: 13
El Cortez Hotel & Casino: 12
Green Valley Ranch Resort Spa & Casino: 12
Bally’s: 12
Definitely interesting stats for those (like me) that are weakening and considering going back to Vegas for a vacation.