Is Bellagio Open  24 for Circa’s final licensing approval. Brian Christopher Slots Huff And Puff Olyv While the price tag to build Circa has not been announced, ENR Southwest, an engineering and construction trade publication, reported that it is a billion project. MGM Resorts International (NYSE:MGM) was downgraded today by Goldman Sachs, the bank saying it’s concerned about the Las Vegas recovery trajectory, among other issues. four winds casino golf packages caesars casino review The Mirage Las Vegas is open for business, but Goldman Sachs is bearish on MGM stock. (Image: Pinterest)Shares of the Mirage operator resided around in early August, and are trading around today. That’s an impressive rally, to be sure. casinos near kentucky

But Goldman analyst Stephen Grambling sees it as a case of too much, too soon. hearts casino free slot games Harrah S Cherokee River Valley Casino Reviews Atib He lowered his rating on MGM to “sell” from “neutral. pechanga casino temecula ”We anticipate a slower recovery in Las Vegas, which will drive downside to consensus estimates, and fundamental underperformance relative to peers,” he said in a note to clients. fanduel casino ipad 7 Casino Smith River Xblq Since the reopening of Nevada casinos in early June, analysts are frequently saying Sin City will rebound slower than other domestic gaming markets. Some go so far as to say a coronavirus vaccine is necessary to lure business and leisure travelers back to the casino hub. vegas x online casino Compounding that problem for MGM investors is that Goldman’s Grambling believes Michigan and New Jersey – where the operator runs MGM Grand Detroit and the Borgata – are also in the “slow to recover” category.

Key Insights and Expert Analysis

Don’t Believe the HypeMGM is the largest opbetrivers casino reviewserator on the Las Vegas Strip, and recent price action in the stock signals a travel rebound to the biggest domestic gaming market that hasn’t yet materialized. Last month, the company announced layoffs of 18,000 workers, or 25 percent of its workforce. While that move isn’t specific to Southern Nevada, there’s speculation that figure could grow. In its home market, MGM is grappling with a scenario of dual misery: Lost convention traffic in the wake of the coronavirus, and reluctance on behalf of many leisure travelers to get on airplanes. kansas city star casino mulvane black hawk casino covid 19 Riverwind Casino Website Oadc As such, Goldman’s Grambling said the recent move in the stock is overdone. “While MGM is re-rating off of lows, we see the rally as unwarranted, given lower exposure to the outperforming regional segment, only partial ownership of digital, higher exposure to group/convention mix, which we believe will recover slowly; and lowest mobility metrics/highest COVID-19 case count over the past two weeks,” he said.

The analyst said lower earnings estimates and a “valuation de-rating” could present downside of up to 12 percent for his price target on the Bellagio operator. Prefer PennSalting MGM’s wounds, Grambling reiterated a “buy” rating and a price target on rival Penn National Gaming (NASDAQ:PENN). no deposit silver oak casino online gambling ny news The analyst just started covering that name last month, and he’s enthusiastic about the operator’s relationship with David Portnoy’s Barstool Sports. casino table games for beginners Goldman views the combination of Barstool’s loyal fanbetrivers casino reviews base and proficiency in content creation as compelling, because it can lower customer acquisition costs, which is a major hurdle facing companies throughout the sports betting industry. is four winds casino still open Grambling prefers Penn to MGM because of the former’s “exposure to defensive regional markets, cost-cutting opportunities and, for PENN, the upcoming sports betting app launch with Barstool. casino elixir ” A total of 0 million in payments could be delivered by January to relatives and victims in the 2017 mass shooting on the Las Vegas Strip.

A gunman firing from the Mandalay Bay in 2017 killed or injured approximately 900 people. Relatives and victims could receive settlement payouts next year. (Image: NBC News)The payouts from MGM Resorts International and its insurers would be distributed to more than 4,400 relatives and victims of the Oct. choctaw casino hr no deposit bonus casino fair go 1, 2017, massacre, according to the Associated Press. A gunman firing from the 32nd floor of the Mandalay Bay hotel-casino killed 59