5316 stories by Todd Shriber
San Manuel Extends Casino Closure Through April 11 as California Shelter-in-Place Policy Takes Hold
The San Manuel Band of Mission Indians, the operator of the Southern California gaming property bearing the tribe's name, said it's extending the closure period of that venue through April 11. That's as residents of the Golden State are now subject to...
GLP Yanks 2020 Financial Guidance, Citing Coronavirus, Draws $530 Million on Bank Credit Line
Gaming and Leisure Properties (NASDAQ:GLPI) is withdrawing its 2020 financial guidance, citing the impact the coronavirus pandemic is having on the casino industry. The real estate company said it recently drew $530 million on a bank credit line to increase balance sheet...
Gaming and Leisure Properties CEO Carlino Backs up the Bus, Buys $2 Million Worth of Sagging Stock
Gaming and Leisure Properties (NASDAQ:GLPI) Chairman and CEO Peter Carlino is joining other industry executives in supporting stock prices that have been decimated by the coronavirus pandemic. He recently scooped up 80,000 shares, or $2 million worth of the real estate investment...
Marina Bay Sands Could Experience Singapore Slump as Coronavirus Closures Take Hold
Marina Bay Sands (MBS) and Singapore's other marquee tourist attractions could be in for some near-term pain, as the city-state implements border closures at 11:59 p.m. local time Monday to prevent further spreading of the coronavirus. The border closure is aimed at...
Pechanga Preparing for Lengthier Closure, Staff Reductions Could be Coming in April
The Pechanga Band of Luiseño Indians, the operator of the Pechanga Casino in Temecula, Calif., said it's preparing for a temporary closure announced last week to last longer than previously expected. It added that staff reductions could commence as soon as April....
Gaming REITs Face First Downturn Test as Casino Closures Stoke Rent Questions
Gaming and Leisure Properties, Inc. (NASDAQ:GLPI), MGM Growth Properties (NYSE:MGP), and Vici Properties (NYSE:VICI) – the three gaming real estate investment trusts (REITs) – are facing the specter of operator tenants potentially struggling to make rent on some properties if gaming venues...
Las Vegas Sands, MGM, Wynn, Others Tagged with Negative Credit Outlooks by Standard & Poor’s
Las Vegas Sands (NYSE:LVS), MGM Resorts International (NYSE:LVS), and Wynn Resorts (NASDAQ:WYNN) are among the operators vulnerable to credit downgrades, as the coronavirus imperils the domestic gaming industry, according to new research from Standard & Poor's (S&P). On Friday, S&P shifted the...
Twin River Bolsters Balance Sheet, Prepares for Potentially Long Winter of Casino Closures
Twin River Worldwide Holdings (NYSE:TRWH) is joining rival casino companies in accessing cash, preparing for what could be longer-than-expected gaming property closures. The operator of Rhode Island's two casinos said in a statement out Friday that it fully funded a $250 million...
Macau Table Game Capacity Up to 80 Percent, But Government Slashes 2020 GGR Forecast in Half
Table games at Macau's casinos are now running at 80 percent capacity following a 15-day closure in February. But the Special Administrative Region's (SAR) road back to normalcy is going to take a while after the government slashed its 2020 gross gaming...
Five San Diego Tribal Casinos Temporarily Closing, Critics Say Native American Suspensions Lag Commercial Rivals
Barona, Campo, Jamul, Sycuan and Viejas – San Diego's five tribal casinos – will begin shutting down Friday morning and will remain closed through the end of March, as some tribes step up efforts to prevent the spread of the coronavirus. Closure...
