blackjack casino machine(Image: Bloomberg)Infinitum Partners, a Miami-based long/short investment firm, says Wynn can surge to 0 a share over the next six to 12 months, more than doubling from the Oct.Twin River’s purchase of the Bally’s brand and plans for that mark going forward could turn it from afterthought to a marquee gaming name.Wynn Resorts (NASDAQ:WYNN) stock more than doubled off its March lows.kansas star casino wedding”The fund manager adds that current valuations on Wynn are below those seen in 2015, when Beijing cracked down on Macau junket operators, citing money laundering offenses.“This is worse than 2008, when many casino operators were declaring bankruptcy due to the debt covenants on their real estate exposure.At one point, it was the highest-grossing casino on the Boardwalk.jamul casino closing

online casino debit card withdrawal

table games at seminole casinoTwin River’s purchase of the Bally’s brand and plans for that mark going forward could turn it from afterthought to a marquee gaming name.The fund manager points out the company has billion in cash, and with Encore Boston Harbor — one of its three domestic venues — complete, capital expenditures should noticeably decrease.Because of the pandemic, the tables on the casino floor that typically have six or seven players sitting side by side in close proximity will be at limited capacity,” he continued.is paragon casino openBecause I believe the VIP gaming segment will come back before mass market.”The fund manager adds that current valuations on Wynn are below those seen in 2015, when Beijing cracked down on Macau junket operators, citing money laundering offenses.But with pending deals, including a recently announced Illinois acquisition, its portfolio will increase to 13 gaming venues in nine states.mgm casino in detroit

luckyland slots tips and tricks

resorts casino boardwalk atlantic city njHowever, one fund manager sees big things ahead for the Encore operator.The Infinitum founder says he prefers Wynn to a basket of gaming stocks, including rivals Las Vegas Sands (NYSE:LVS) and MGM Resorts International (NYSE:MGM), because the former is most exposed to Macau, a market he seeonline gambling debit cards rebounding more rapidly than other marquee casino destinations.He points out that on valuation, Wynn stock is today trading at levels that are more depressed than what was seen during the global financial crisis.Good Deal with WynnYetimoglu argues that the current situation in Macau isn’t nearly as grim as the global financial crisis or the 2015 junket scandal.The brand has an even deeper history in New Jersey, opening as Bally’s Park Place in 1979.Usually, Macau gaming names trade at 15x to 20x EBITDA.winstar world casino online gaming