Las Vegas-based Boyd Gaming Corp. is burning about $3.2 million daily during the shutdown and would run out of cash in about 9.4 months at that rate, according to the report. MGM Resorts International is burning $14.4 million daily and would run out in nine months. Penn National is burning $6.4 million daily and has 5.2 months before it runs out. Red Rock Resorts is burning $1.7 million daily and has 13.8 months; Golden Entertainment is burning $1 million daily and has 10.4 months.
Gaming is a little bit different than a lot of other businesses,” he said. “It’s harder for a bank … to take over the building, take over the operations if they run out of cash, but they will all have to downsize, offer discounts and eventually filing for protection. I have only dabbled in this sector, but am keeping an eye on it for consolidation.