mgm grand casino in detroitIt’s been a week of downgrades for MGM Resorts International (NYSE:MGM).That implies downside from the area at which the stock currently resides.But Bain argues Diller’s company may have paid too much for the privilege.hard rock casino lake tahoe nevada1 billion in cash, giving it its strongest balance sheet ever.org.Raining on the ParadeIAC getting involved with MGM is much more about the gaming company’s online casinos and BetMGM units than it is about land-based integrated resorts.hard rock casino y hotel

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winstar world casino 4th of july fireworksBut Bain is concerned that the lack of real estate levers to pull means the operator is too levered to Las Vegas, and investors may be overlooking that risk.Fontenot told Casino.Last month, Barry Diller’s IAC paid billion to acquire 12 percent of MGM’s equity, sparking a rally in the stock.river spirit casino eventsThe 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.Fontenot told Casino.Last month, Barry Diller’s IAC paid billion to acquire 12 percent of MGM’s equity, sparking a rally in the stock.aliante casino buffet

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black oak casino check out timeFontenot told Casino.An analyst is concerned about the operator’s exposure to its home city.These casinos were closed temporarily but have since reopened, according to Lt.No Real Estate, More VolatilityLast year, MGM sold Bellagio and Circus Circus, and the real estate liquidation theme continued into January, as the operator parted with MGM Grand and Mandalay Bay on the Strip.“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 12oxford casino games percent stake in MGM,” said the analyst.The stock suffered its second lower revision in three days Wednesday, with the Las Vegas Strip looking like the primary culprit.black hawk casino sacramento