poker game in casino royaleBut Bain argues Diller’s company may have paid too much for the privilege.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.Last month, Barry Diller’s IAC paid billion to acquire 12 percent of MGM’s equity, sparking a rally in the stock.riverwind casino employment”With convention traffic all but non-existent and leisure travelers from other regions unwilling to fly to Nevada, the Roth analyst points to Sin City’s dependence on the Golden State as a major near-term vulnerability because California’s own economy is struggling and is home to steep unemployment, owing to the COVID-19 pandemic.“4Q/1Q marks convention season, which is essentially non-existent, leaving MGM’s portfolio dependent on California leisure traffic.It’s been a week of downgrades for MGM Resorts International (NYSE:MGM).clearwater casino deals

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what does brian christopher slots do for a livingThat helped it amass a large cash hoard that kept it afloat during the multi-month shutdown of domestic casinos.org the Isle of Capri’s motor system will require repair work because of the incident.But 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.delaware online casino no deposit bonus“To be clear, we believe IAC ownership is a positive for MGM.“4Q/1Q marks convention season, which is essentially non-existent, leaving MGM’s portfolio dependent on California leisure traffic.BetMGM is a joint venture with GVC Holdings, meaning MGM has to share the economics with its UK-based partner.luckyland slots download app

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u casino san mauro cilentoRaining 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.An analyst downgraded Wynn’s stock today, citing exposure to that market and weakness in Las Vegas.But 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.The 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.But 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.That implies downside from the area at which the stock currently resides.hard rock lake tahoe resort casino