RE:RE:RE:Why haven't Evergreen Gaming Casinos reopened? If the Casino in which you're referring was a tribal casino, they weren't included in the shut down order from the State.
Subsequent to December 31, 2019, the World Health Organization declared the novel coronavirus outbreak a pandemic. In response to the risks the outbreak presents to the Company’s employees and customers, on March 16, 2020, the State of Washington, through proclamation by the Governor, closed non-tribal card rooms. To the extent that state, federal, or other governments or agencies further restrict or limit access to the card rooms or place restrictions or limits on public travel in general, additional declines in customer traffic may be experienced beyond March 31, 2020.
TNA shutdown mid March and has been closed for most of the second quarter. The current liabilities are around $4.1m against $14.6m in unrestricted cash. The current portion of leases and notes is only $500k so they are solid to sustain themselves until reopening for quite a while.
But, being closed while competitors are open could impact the speed at which patrons return to their rooms and affect their ROE for a while.
It will be interesting to see what the companies carrying costs are over the second quarter.