Casino Safety Service Provider Issues Covid-19 Statement Amid Casino Downturn

Casino Safety Service Provider Issues Covid-19 Statement Amid Casino Downturn

A casino safety service provider that is part of a large parent company based in Minnesota; APi Group, has today announced a date next month for the release of its financial earnings report along with issuing a statement on the current and ongoing Covid-19 pandemic.

APi Group is a multi-billion-dollar parent company to more than 40 independently managed companies that specialize in safety solutions, specialty services, and industrial solutions in over 200 locations worldwide.

The group, which has a safety service arm that services the casino and gaming industry, including being a primary contractor for casino establishments in Atlantic City, has stated that its figures will be released and discussed via conference call on the 8th April 2020.

APi Group said:

“APi’s results for 2019 were in line with expectations and guidance and we look forward to reviewing these results as well as the outlook for 2020 on our upcoming conference call. As many other companies have done, and out of an abundance of caution, the Company recently drew down $200 million under its revolving credit facility. We continue to maintain a conservative balance sheet and had total cash on hand of approximately $396 million at March 30, 2020 including the draw down on the revolver.”

One of the groups safety service firm’s also installed life safety systems in Harrah’s Casino Resort and Hard Rock Hotel & Casino Atlantic City, formerly Trump Taj Mahal Casino Resort; a casino and hotel on the Boardwalk, owned by Hard Rock International, initially inaugurated by its then-owner Donald Trump; the 45th and current president of the United States, in 1990.

In response to the coronavirus crisis, the group said that it ‘is actively quoting new work and seeking to accelerate certain service and inspection projects for customers such as schools, hotels, casinos and other customers that may be temporarily operating at less than capacity or closed.’.

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