golden nugget casino reno(Image: Getty Images)In a note to clients today, Bain lowered his rating on the Encore operator to “neutral” from “buy,” while trimming his price target to .”Risks mentioned by the Roth analyst include ongoing geopolitical volatility between the US and China, and concession renewal risk for US operators in Macau, among others.“Given the lack of domestic/international travel, lack of near/intermediate-term group and business events, the beginning of a long Las Vegas recovery is currently levered to California leisure traffic, which offers little visibility/reason for investor enthusiasm,” said Bain.desert diamond casino near meThe analyst points out that a VIP-led recovery in Macau may not materialize to the extent market observers previously believed, and that could weigh on Wynn equity.“To be clear, we believe IAC ownership is a positive for MGM.That’s because investors are enthusiastic about Diller’s reputation for helping small consumer online assets become internet behemoths.harrah s casino new jersey

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turtle creek casino michiganBain added that Wynn has less exposure to the Cotai Strip than rivals Las Vegas Sands (NYSE:LVS) and Melco Resorts & Entertainment (NASDAQ:MLCO), a relevant point because border expansions and new capacity could drive traffic to that area of Macau.“The cyclical, competitive, capital-intensive nature of the Strip combines with a basket of well-known macro/specific travel and Las Vegas negatives, seemingly dismissed by investors since IAC took a 12 percent stake in MGM,” said the analyst.Namely, Sin City is now highly dependent on leisure travel from neighboring California.poker cash game casino deauville”Risks mentioned by the Roth analyst include ongoing geopolitical volatility between the US and China, and concession renewal risk for US operators in Macau, among others.“To be clear, we believe IAC ownership is a positive for MGM.BetMGM is a joint venture with GVC Holdings, meaning MGM has to share the economics with its UK-based partner.gold coast casino winners

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online slots real money south africa book of raRisky BusinessBy Bain’s estimate, Wynn derives 68 percent of its earnings before interest, taxes, depreciation and amortization (EBITDA) from the world’s largest gaming center, adjusting for its ownership stake in Wynn Macau.An analyst downgraded Wynn’s stock today, citing exposure to that market and weakness in Las Vegas.Additionally, the business will generate just 0 million in revenue this year, with profitability three years away, according to the Roth analyst.That implies downside from the area at which the stock currently resides.Additionally, the business will generate just 0 million in revenue this year, with profitability three years away, according to the Roth analyst.Shares of Wynn Resorts (NASDAQ:WYNN) are lower by more than two percent Wednesday after Roth Capital analyst David Bain downgraded the gaming operator, citing, among other factors, risk in the marquee Macau market.high 5 casino poker