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Thread: How long can Vegas casinos stay closed?

  1. #1
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    How long can Vegas casinos stay closed?

    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/

  2. #2
    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.

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    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.

  4. #4
    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.

    https://twitter.com/#!/x/status/1243833705472217089

     
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      Drawingdead: I text these to Todd I think last week. Pretty crazy to see it empty

  5. #5
    hosts are saying they are hoping to reopen 4/17. seems too optimistic to me.

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    Quote Originally Posted by Tellafriend View Post
    hosts are saying they are hoping to reopen 4/17. seems too optimistic to me.
    Iím ready to take advantage of these 40$ round trip airfare tickets. This wonít end until they develop a vaccine. Sadly it might be a year or two of people getting sick

  7. #7
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    Quote Originally Posted by Tellafriend View Post
    hosts are saying they are hoping to reopen 4/17. seems too optimistic to me.
    That would be the end of the 30 day mandatory shutdown. It's subject to re-evaluation by the governor.

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    Would any of you go for the crazy prices? Iíll only go if the poker rooms are open and actually have action.

  9. #9
    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.


  10. #10
    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.

     
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      Shizzmoney: lol

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